I am non holder.... and I have question to non-holders who...

I am non holder.... and I have question to non-holders who thinks Z1P will get liquidated.

Personally at a certain price point Z1P/SZL become attractive to Rewards programs like Flybuys, independent banks and larger credit unions who have excess capital.

The missing link for Z1P/SZL is cheap capital, BNPL borrows at 4+ % and lend to make 2% or 3% after cost.
Personally making 2% or 3% is a mugs games, as a standalone business.

However say an institution with excess Tier 1 capitol buys Z1P/SZL at a reasonable multiple and deploy their excess capital making 0.1% in overnight markets to 6% to 7%.... Economics changes.

If it is an Australian institution and sees overseas market as too risky, they can always sell overseas buiness or run it separately to isolate Australian deposits.

Z1P/SZL
7 million Australian users aquisition cost $200 each = $1.4 billion
7 million US users aquisition cost $X each = $? billion

Hence I waiting for SP to stablise