I found your post really interesting. I didn't know the unbanked were as high as 20%. That may explain why Cash App initially became popular with underserved (poor) communities in the South East of the US. If you can not get a bank account with a traditional bank and are unbanked Cash App would be very popular. Big question is can they jump demographic boundaries and become popular will all the US population. I know they are popular with Gen z and Millennials as the company has stated 70% of their customers are in this age group. I will be watching the Monthly Active Users to see if the are executing on their strategy.
You appear to know a lot about the US banking system. Wondering if you have a bear thesis on what will stop Cash App from growing so fast in the US.
I found your post really interesting. I didn't know the unbanked...
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