# Tether is MANSA's equity investor and the source of roughly 90 percent of its pipeline

Research, a Stabledash show. Jul 22, 2026. Mouloukou Sanoh.
https://live.stabledash.com/shows/research/episodes/tether-backed-mansa-hit-510m-in-stablecoin-cross-border-bJP1hDVnW3s

MANSA's CEO says its settlement business in emerging markets rests on USDT liquidity, on having solved prefunding first and on a Tether relationship that brings in most of its deals.

Mansa, a stablecoin-native cross-border settlement platform, is backed by Tether USDt as an equity investor, and roughly 90 percent of its pipeline comes from that relationship. CEO Mouloukou Sanoh says Tether is the company's largest investor and also helps with its go-to-market strategy and marketing. MANSA has processed $510 million in on-chain volume since launching in August 2024.

## Volume and corridors

Mansa has financed $253 million in payments to clients and is active across 40 corridors, including Nigeria, Kenya, Colombia, the Philippines and Ghana. Mouloukou Sanoh says stablecoins are not really needed in the US or Europe, where Venmo and SEPA transactions are "quick enough". In his view the real bottleneck is in the markets with the most friction.

## Why USDT

Mouloukou Sanoh argues that Tether USDt has the deepest liquidity in emerging markets. He says he could move 10,000,000 USDT in less than ten minutes, while USDC would involve "a lot more friction". He expects USDT to remain the number one stablecoin because it has the most utility. He adds that the chain matters less than local demand: in his account, USDT on Tron converts with less slippage than USDT on Ethereum. MANSA also works closely with Plasma, which he calls a fantastic partner.

## Prefunding and China

According to Mouloukou Sanoh, $4,000,000,000,000 sits locked in correspondent banking and payout partner accounts around the world. Mansa built its own China payment rail, connected to the country's instant payment system Synapse, which settles any inbound payment in 30 minutes. Sanoh says Chinese merchants started demanding payment in USDT because of capital controls, so demand for stablecoin settlement into China has always existed.

## Next rails and advice

Mansa says it will release an India payment rail "incredibly soon", along with a Colombian peso rail and a larger focus on Latin America. Mouloukou Sanoh tells builders to keep things simple and do the hard things first. For MANSA, he says, that meant solving prefunding, which included raising over $100 million in credit from some of the biggest credit funds, something he calls "incredibly difficult".

In Mouloukou Sanoh's account, Mansa grew by taking on prefunding before anything else and by leaning on Tether USDt for distribution and USDT liquidity. He tells founders to build something they can relate to, which he says is what separates missionaries from mercenaries.

## Key takeaways

1. Tether USDt backs Mansa as an equity investor, and roughly 90 percent of MANSA's pipeline comes from that relationship.
2. Mansa reports $510 million in on-chain volume and $253 million in payments financed to clients since launching in August 2024.
3. Mouloukou Sanoh says solving prefunding first, with over $100 million raised in credit, is what MANSA's new payment rails were built on.

## Chapters

- 0:00 MANSA settles emerging market payments instantly with Tether backing
- 3:24 Hosts pause for an audio fix and a sponsor segment
- 5:24 USDT wins because it converts most easily to local fiat
- 8:48 Stablecoins matter most where financial infrastructure has failed
- 12:10 Prefunding is the hidden cost behind so-called instant payments
- 14:10 Chinese trade and capital controls drove emerging market stablecoin demand
- 17:13 Founders should build from personal experience, as missionaries
- 19:40 Local distribution decides which chains and stablecoins succeed
- 23:02 MANSA expands into India and Colombia rails next
- 25:10 Keep things simple and solve the hardest problem first

## Transcript

**Drew Rogers** (0:00)

Yep. Alright. Go for it again. Welcome in.

**Mouloukou Sanoh** (0:03)

Thank you. Thank you guys for having me. Like, I was just bumping the track. What a track. What a track. What an intro. Thank you so much for having me. It's it's an it's an absolute pleasure to be on.

**Zach Fowler** (0:16)

Yeah. Likewise. And I think you mentioned you've been watching the show for a minute, so it's always great to have these these full circle moments. So kinda give us give us the lay of the land. What are you... Who are you? What are you building? Also, like I said, really just interested to dive into Monza. You're you're backed by Tether, which again is an is an interesting dynamic here in this space. So, yeah, kind of give us your give us your intro. We just met you at a conference. What do you do?

**Mouloukou Sanoh** (0:43)

Yeah. For sure. 100. So my name is Willuku. I'm the CEO of the Coconut Mansa. We are the leading stablecoin at the instant settlement platform for emerging markets. We have global fintechs in Africa and Latin America and Southeast Asia settle their payments T plus zero so they can close more transactions, they can work with bigger clients, and they can essentially generate, more revenue.

We've done over $500,000,000, in stablecoin volume over the past, three to two months, which is essentially $250,000,000 in normal USD transactions to some of the toughest markets in Africa, Latin America, and Southeast Asia. We work incredibly closely together with Stetter. They're our largest investor, but also really great partners to help us with our go to market strategy, have helped us, like, with our marketing, especially also, like, insights into

**Drew Rogers** (1:38)

what's happening on the Yeah. I'd love to start there. What... What's it been like? We haven't actually covered anyone yet who has given us a little bit of insight into what it's like to work with Tethr in this way. Tethr's been notably in the last six to twelve months doing a lot more of this, like, seed investing and and putting capital into companies. What's it like having Tether on the cap table and and working directly with them?

**Mouloukou Sanoh** (2:06)

You know, when my cofounder, like, met Heather initially told me that Heather wanted to to, like, take a look at us, I told her there's no one. I told her that she was joking. Right? Because, you know, like, when you think of Heather, like... And this was two years ago. You think of this mysterious company, right, that generates more money than God. But having converted to London over the past few years, you realize that they're one of the most astute and thoughtful people in this space.

They, like, they call themselves a stereocognitive because they think a 100 years ahead. So it's been... They've been the best partner we could afford. I would say that about 90% of our pipeline comes from the head area because the main thing that pain companies, We want to be able to separate. We wanna be able to go from our currencies to USET and in. So they've been really, really great in helping us introduce companies to us. They've also introduced us to other investors, and they've opened doors. Right?

So just merely to be affiliated with the... And it's helped open the. And it's helped create a lot of opportunities that are just... Would have come up with it. And that will just also generate really nice. So I don't... I'm pretty grateful for our continued partnership.

**Drew Rogers** (3:24)

That's awesome. Moe, we're going to kick you back to the green room here real quick just to do a quick audio change. We'll we'll see you in one second, but we'll we'll have you refresh. We're gonna pull you back into the green room just so we can make sure that we're getting clear audio.

**Mouloukou Sanoh** (3:41)

Sure. Is my is my audio lagging?

**Drew Rogers** (3:45)

No. Just just a clarity. Okay. I'll play the Hop Now segment again. I I like seeing this. This is a research segment. We're launching Sableash Research, which is just a conversation for us or an opportunity for us to have conversations specifically around topics. And with Hop Now, the existing sponsor, we're really exploring this idea of global settlement, effects, cross border payments, and how stablecoins fit into that. That's that's very near and dear to the HopNow business.

So we're really grateful to them to be working with them. They're they're a new team. Go back and listen to our conversations that we had both with Brent virtually.

**Zach Fowler** (4:21)

And Zach, you Brent is Brent is but John is part of our our c... We only have 19 videos supposed from CDMX, so I'm just gonna get a few of those live. But that'll be all. That is... You you can go sift through the longer longer live show. I think he was on day two of CDMX. Scratch that. No. He was day one. Yeah. But, I mean, again, when you think about Brett Brett, deep background at Coinbase, John, deep background at Anchorage, at Goldman Sachs. I mean, just these teams with a very high pedigree.

I forget they have a third cofounder. I forget her background as well. But, again, like, this isn't an... And no. Not knocking anybody that may be, you know, 25 years old out of out of y c. But, again, this is a team that's been building in the general payment space for twenty plus years. John was telling me, he goes, man, I was a little nervous for your show. He goes, the last time I spoke was in front of 20... 200 plus investors at Goldman Sachs. He's like, I haven't done any conversation since then.

I was like, oh, well, k. We get to follow that up.

**Drew Rogers** (5:24)

Cool. Moe is back. We're gonna bring him back on and cross our fingers. Moe, I'm gonna unmute you here. How we doing? Gentlemen, can you hear me? So much better. That's so much better. Alright. Cool. Do you see that face? We gotta we gotta we gotta grab that faithful Zach. That's nice. Yeah. Appreciate it. Okay, Moe. So you were telling us about Tether, what it's like to work with them. Maybe just, like, quickly give us the TLDR on that piece again, and then we can dive into what you're building.

And, like, what gaps? So Tether does this extremely well. They need Monza to do

**Zach Fowler** (5:55)

what?

**Mouloukou Sanoh** (5:57)

Yeah. Great question. So I feel like the role that's had a... That had a place for us is irreplaceable. They introduced us to the largest payment companies in the world. They introduced us to some of the biggest investors in the world as well, and they've helped open doors for us that that were previously, like, inaccessible.

So I believe that Monza played a unique part in the USDT ecosystem because we enable payment companies to settle stablecoins into some of the toughest emerging markets, and we make sure that USDT remains the main stablecoin for payments across the key emerging markets where Tether is the biggest. And we hope that they stay the biggest as well.

**Drew Rogers** (6:38)

Yeah. Tell us more about why why is the hope that that is the case? What's the benefits of working with...

**Zach Fowler** (6:44)

Really deeply with one stablecoin versus maybe, you know, integrating many of them? This is this is like... Again, you open your timeline, you see OpenUSD right now. Like, this is A of parts are thinking about this. Conversation as a builder of, like, I wanna align myself with a stablecoin. Do I do USDC? Do I do Tether? Do I open USD? Do I issue my own stablecoin?

**Mouloukou Sanoh** (7:03)

Yeah. How'd you think about that? That's a great question. So a stablecoin is only as good as its ability to move in and out of the fiat currency that you wanna get into. A lot of people, right, like, don't understand that stablecoins are not a magic bullet. They're just a means to an end. What stablecoins do, right, like, really well is that they enable you to move money cross border, like, really well. But in the end, the payment company, the merchant, the beneficiary, they want to see a currency.

So if you look... So the most important thing when considering to work with a stablecoin is the one, how much liquidity is there and how seamless can I move in and out from that stablecoin to where I wanna go? So if you take Nigeria, for example, it's so much... If I wanted to move 10,000,000 USDT, I could do that with very low latency in less than ten minutes. If I wanted to use USDT, if I want to use, like, USDC, it will be a lot more friction.

If I wanted to use Ripple USDT or any other stablecoin, there'd be a lot more friction. So put yourself in the shoes of a payment company that's moving millions of dollars. And they're... You... Usually moving millions of dollars every few minutes. You have to use the stablecoin that is the easiest to go in and out from the local currency, and that's the same thing in Latin America, and that's the same thing in Southeast Asia.

And this is why I believe that USDT will remain the number one stablecoin because that's the one that has the most utility. And people must also remember is that when there's a maker, there must be a taker. There must be somebody on the other side that would take the stablecoin and give you that local fiat currency. And for now, it's USDT, and I think it will remain USDT.

**Zach Fowler** (8:48)

And so with... When we talk about some of these volumes with USCT, I think you... We were talking with your team before. You're active on four... 40 core... Corridors, 253,000,000 in payments financed to clients, 510,000,000 in on chain volume process since your launch in August 2024. Help us kind of break this down, I think, especially by corridor. Right? Because this segment, we're focused around cross border payments effects, and that's a very umbrella term. You know? There's... You're active in 40 corridors.

There's a 150 other currencies out there. There's Latin America. There's Africa. There's Asia. Help us to understand, like, where are you seeing more... Where where are you focusing more as of late, and what do people not understand between, you know, this conversation to even just go live in 40 at 40 corridors?

**Mouloukou Sanoh** (9:36)

Yeah. I think what people, like, also need to understand is... But, like, take a step back and look at why would you use stablecoins. People use stablecoins in markets where the financial infrastructure has failed, where it takes seven days to clear SWIFT, where the fees can go all the way up to, like, 5%. And the dealer recorders of Nigeria, of Kenya, of of Colombia, of of, like, Congo, of of some places in Southeast Asia. And these are exactly the markets where we are focused on.

So in Chinese, there's a saying that the best fish are found in muddy waters. And we have essentially done $510,000,000 in volume across Colombia, across Nigeria, across Ghana, across The Philippines. And we're also heavily moving into other markets in Southeast Asia and in Latin America, and as well as very exotic currencies on the African Continent as well because that's where you have the most friction.

But evidently as well, that's where you have the most demand for stablecoins and where traditional payments has failed. You don't really need stablecoins in The US. Like, the Venmo transactions are quick enough or in Europe where the SEPA transactions are also, like, pretty much quick enough. The real bottleneck exists in places where there's the most friction, and that's where Monster is present. What would you define? Like, kinda... I go... Sorry, Drew. You take the next one. Good. You're good. Really quick.

**Zach Fowler** (11:04)

Exotic currencies. How would you define that?

**Mouloukou Sanoh** (11:07)

So I would say that an exotic currency is a currency that has a parallel market. So if you look at Nigeria where there is the central bank rate and there's the actual bank rate, An exotic currency is a currency where there is low dollar availability, like in places like Kenya and places like Venezuela, in some places in Southeast Asia. An exotic currency is a currency where there's low liquidity. Right? And liquidity is is the most important thing in the world.

The reason why it costs a few bibs to go from USD to dollar is because there is a lot of liquidity. But now start thinking if you wanted to go from GPB to Malawi, Kacha, which is actually what we do, or if you wanted to go from, like, GDP to, like, Indonesian, like, rupiah or or, like, US dollars to Nigeria or, like, US dollars to COP, right, like, so on and so forth. Right?

This is where the system essentially tries to break, and this is where we are focused in helping payment companies seamlessly settle payments in those transactions as quickly as possible... In those corridors as quickly as possible.

**Drew Rogers** (12:10)

Can you talk a little bit about... You're kind of dancing around it a little bit. The the idea of prefunding and how that plays into this conversation. Prefunding accounts seems to be a really key part of the the value offering here. Why is that so important? Yeah. I think people have a huge misconception

**Mouloukou Sanoh** (12:28)

about payments. There's no such thing as instant payments. So instant... The notion of instant payments is just me as a payment company keeping money in all these different accounts all over the world. And then whenever my clients want to send transactions there, it's kept from the money that I actually have there. That's what, like, that's what Western Union, MoneyGram, and all the largest payment companies do.

So there's currently $4,000,000,000,000 locked in in in all these different, like, correspondent banking over to all these different payout partners, like, across the world. So as a payment company, my balance sheet determines how many transactions I could do, how quickly I could do those transactions, and then depending how I, like, rebalance, it determines how many customers I could serve. So Manza so Manza's main value prop is actually you don't have to keep your money in all these places.

We will we will settle your incoming payments instantly, and you can pay us back in twenty four, forty eight, or seventy two hour, like, essentially when you receive your wire. So we have done that for some of the largest payment companies in Africa, in Latin America, and in Southeast Asia. And by virtue of essentially funding all these payments, we see where all these payments are going. And because we see where all these payments are going, we see where the biggest bottlenecks are.

For example, one of the largest bottlenecks was actually payments into China. So what we've done is we've developed our own China payment rail connected to China's instant payment rail called Synapse, where we can settle any payment into China in thirty minutes. And we're doing the same thing in Colombia very soon, and we're doing the same thing in India as well.

**Drew Rogers** (14:10)

Wow. What is it like to build those types of rails with China? I think this was something that Lightspark and David Marcus, we talked about specifically was this this specific corridor.

**Zach Fowler** (14:22)

And e... David from... Dave from Ethiopus was talking about when they were launching their local stable bond for Kazakhstan, two of the main payment rails were going into China and into and into Russia.

**Drew Rogers** (14:33)

Yeah. What's... What are you learning right now with with China, or what what was that like to go build that?

**Mouloukou Sanoh** (14:38)

Yeah. It was amazing. So I actually grew up in China. I've actually spent the majority... I've actually spent probably twenty twenty two years of my thirty life... Of of my thirty years here on Earth, I've actually spent in China. So I grew up in Beijing as a kid, and then I live in Hong Kong, went to college there, worked in private equity. And I I think what people don't understand is that China is actually the reason why a lot of these emerging markets started adopting stablecoins.

Because if you look at the map of the places that have the largest stablecoin volume, it's also the places that trade with China more. And Chinese merchants, because of capital controls, actually started demanding to get paid in USDT. So there's always been the demand for stablecoin settlements into China. So, essentially, what we had to do to to, like, develop this role was to connect to local banks, park...

Or, like, keep our own prefunded position in one of these local banks, develop relationships with these banks, which enables us to instantly settle these payments, not in yuan, but in US dollars within thirty minutes. Wow.

**Drew Rogers** (15:47)

Did the reality of you growing up there and having the majority of your life being spent there, what kind of advantage did that give you in terms of being able to resonate or understand and get get those types of... Get this specific relationship done? Like, what what do you know that most markets don't about working with, like, a Chinese bank, for example?

**Mouloukou Sanoh** (16:07)

Yeah. I think, first of all, there's lot of misconceptions about China. I think in in in the unfortunate geopolitical situation that we're in, people don't realize that China is actually one of the most technologically advanced places, like, in the world. But also because of its size, it's such a competitive market that Chinese companies actually need to start looking abroad in order to stay alive. If you look at, you know, China's economy, prices have stayed the same since, like, 2018. It's actually deflationary.

So in order for companies to survive, they need to look for markets overseas. So they need to trade with other places. Right? But if you're a Chinese merchant, you don't want Venezuelan pesos. You don't want Colombian pesos. You don't want, you know, like like Nigerian naira. You want either Chinese yuan or you want dollars. So there is such a huge demand from them to be able to collect these payments from all over the world, and that's what we've been focused on.

So so I feel like that singular insight is what's actually helped us, you know, like, develop and build these relationships in China that are necessary to settle payments there.

**Zach Fowler** (17:13)

So let's let's, like, kinda zoom out, and this is an interesting... We actually had a question come in through through our chat. It's looks like he's a Solana developer. He says, what should we build in in Stablecoin as Solana dev? So like I said, I I think if you're if you're thinking, okay. We are base infrastructure. Right? We're seeing this wave right now of neobanks, but also, again, these kind of neobanks that feel like they're selling to everybody.

You're seeing these growing needs among, you know, corridors in China or corridors among exotic currencies. If if you were speaking to maybe a young developer or a young founder, you you said, hey. We can actually provide liquidity to these geos. Where would you where would you encourage people to start building?

**Mouloukou Sanoh** (17:55)

Yeah. I... Like, I would say build what resonates with you. So the reason why I built Monza is because I actually have a vendetta against Western Union. So if anybody from Western Union is watching this, no. No. I'm coming after your ass. No. Honestly, so when I, like USTT cannons are out. The cannons are out. Like, when I went to college in Hong Kong, I was 17 years old, so I couldn't get a bank account. So my parents would send me money by Western Union. And, you know, I'm not the most punctual person.

I would arrive literally one minute late, and they would say, the system is closed. You know? Or I would walk to, like, the Western Union thinking about how much money it would get, having already spent it in my mind. And I would get to Western Union and then after fees, I'd be like, what the hell? How come it's so expensive? Right? So I've always had this loan debt, as I said, against Western Union. I've always wondered why sending payments to emerging markets is so expensive.

And when you really think about it from first principle basis, it's because of liquidity. And, you know, coming from from a family that, you know, has traditionally, like, done business with, like, emerging markets, like, you realize that the system is incredibly unfair and the fees are incredibly, like, expensive. So I've had a personal experience with this, right, like, which has given me personal insights.

So to anybody building anything in stablecoins or anything in general, I would recommend building something that... I would recommend building something that you can relate to. Building something that you have essentially, right, like a deep passion to and that can guide you as well. And and, like, I feel like that was... That's what separates missionaries from mercenaries.

**Zach Fowler** (19:36)

So good. So good. That is so good. Bars. Drew, I got I got another question for him. So we're... I'm gonna shift gear... Gears a little bit because this has also been a hot topic in kind of the world of of developing these payments. I like what you said about the stablecoin only being as good as its connection to the local rails. But now when we think about USDT, we've seen it become more integrated at the blockchain level, you know, with stable coming out. We'll have an episode with Brian on stable minded soon.

We've seen obviously the rise of plasma. Has that affected your product road map and how you're building these at all? Or, you know, are there any chains that you kinda gravitate towards infrastructure

**Mouloukou Sanoh** (20:13)

wise? No. We love plasma. So so we actually work very closely together to plasma. Shout out to the plasma team, Paul, Nathan, Vinny, and all of them. They've been fantastic partners. We've... Like, we're... Like, we continue to do a lot of volume on plasma. They're, like, they're, like, amazing guys. Right? Like, again, they've also introduced us to a bunch of favorite companies. We work very closely together with them, and and I think it's just a validation of of of of TEDRA's mission.

And and it's a validation that USDT

**Zach Fowler** (20:45)

is and will remain the leading stablecoin. Has that drastically, you think, improved your product? Because I think there's kind of... There... There's been this sentiment in this space that, oh, man, we're launching, like, all these stablecoin payment centers blockchain. Do do we really need them? Is is Solana or is Arbitrum, are they really that? I don't wanna say bad, but is... Are they really that different when it comes from a developer perspective? Have you have you seen any noticeable shifts

**Mouloukou Sanoh** (21:10)

since then? Yeah. Definitely. Yeah. Definitely. A 100%. Because, like, I think I think people, like, must understand that the reason why people use stablecoins in an emerging markets versus a market like The US and and, like, Europe is completely different. Right? And given... And how stablecoin is only as good as its ability to move in and out of local currency, that's the same thing, like, with a chain.

For example, if I if I was in any emerging market and I tried to change USDT on Tron versus USDT on Ethereum, I would get way better... Way less slippage with USDT on Tron because there's a lot more demand for that. Right? And given that Plasma is positioning itself as these stablecoin chains, especially for these emerging markets, they have just a lot more distribution. So I feel like one thing that these chains forget or don't really realize is the power of distribution, especially local distribution.

Having people on the ground that will accept your money and and that will trade on your chain. Why? Because they're... They have the most integrations, the most banking integrations. They have, like, the best fees, so on and so forth. Right? So I feel like there's a really big there's a really big underappreciated part of having a stablecoin. I saw the open US, like, announcement. I mean, it's great. You have, like, some of the world's biggest fintechs, but how about the consumers, like, that actually use it?

How are they gonna access it? Right? I mean I mean, like, for example, PayPal constantly keeps banning people, like, on the African Continent. It doesn't matter if PayPal is there. It doesn't matter. Like, Viva doesn't work in any emerging markets. Right? So it doesn't really matter if you have Viva adopting, like, OpenUSD. You know? So so, like, there's a lot of, like, on the ground things that really move the needle, which I believe Plasma is doing, which which many people are not.

**Zach Fowler** (23:00)

Yeah.

**Drew Rogers** (23:02)

It's so good. It's so good. I love how all of these partners come together in a really, like, meaningful way, and everyone everyone seems to be doing their thing really intentionally and really well. And knowing knowing who you are and being it, I think that's kind of a theme of today. Where do you go from here? So Yeah. Any... Anything we've missed out? It seems like Asia's been the bigger focus as of late. I mean, we were just in Mexico City, so our buying's kind of more more on the... On those continents.

**Zach Fowler** (23:29)

But tell us about your work with with Stable. And like I said, we talked a little bit about China, but where where... What are you seeing in Asia right now that's really sick... Sticking out?

**Mouloukou Sanoh** (23:39)

I think what's really great about, like, Asia, right, and and, like, why stablecoin adoption in Asia has been, like, so rapid is because people in Asia are used to using these, like, fintech apps. For example, in China, you have WeChat. You have Alipay. In in Thailand, I'm not too sure, like, you guys have been to Thailand, that, like, there's Grab, which is basically, like, the super app. Right? And you have this across all of Southeast Asia.

So people already have the notion of using wallets and and, like, sending, right, like, digital money. And that's the same thing, right, like, in Latin America and and, like, places like Africa. Right? So, like, this is why, essentially, right, it's so much easier to launch stablecoin products and solutions in these markets. So I feel like our focus going forward is, you know, growing our solutions in in Asia. Like, we're releasing our India payment real incredibly soon.

We're also releasing our Colombian peso real as well as a huge, huge focus on Latin America. I'm probably gonna spend a quarter there at some point this year. You know? There's just so many places to Yeah. To go, so many things to do. I wish I could clone myself.

**Zach Fowler** (24:48)

I I was gonna say, actually, we might need to talk more about India and if you have any partners in that region because we actually... Our our video editor is based out of there, and it's... Drew's been having It is. A nightmare paying paying him. You know, obviously, we wanna do stable points. But, again, if he can't get it into his locals local currency Gotcha. He's he's kinda SOL.

**Drew Rogers** (25:10)

Moe, last question. And as we close here, any... What what would what would be your final... To a stablecoin and operator focused audience, people who are actually building and looking to integrate things like Monza into their business. So what would be kind of the final invitation that you would that you would send to them? I think, you know, like like,

**Mouloukou Sanoh** (25:30)

I think my parting words would be keep things simple. Right? Like, I I feel like sometimes, right, like, in in crypto slash stablecoins, like, we try to make things, like, too complicated. We try to get lost in the hype. Just keep things simple. Like, focus on, like, what actually moves the needle and focus what actually helps people, what actually helps, right, like, businesses. Right? I think it's like it's like...

It sounds, right, like, quite cliche to, like, to, like, to say do the hard things first, but I think you should. Right? And I think what's really benefited us, like, at Monster is that we focus on doing the hardest thing first, which was solving prefunding. We went there and and, like, we spoke to some of the biggest credit funds in the world. We've raised over a $100,000,000, right, like, in credit, which was incredibly difficult. Right?

But now that we have done that, this is what enables us to launch our China rail, our Colombia rail, and and, like, our, like, India rail. Right? Do things that are difficult to replicate and that help you, like, build a mold, and and, like, just try and and and and help the consumer and, like, the merchant and and just put yourself in their shoes.

**Zach Fowler** (26:33)

Yeah. Awesome.

**Drew Rogers** (26:34)

Beautiful. It simple. Kiss. Thank you for the answer, Steven. I'm glad this worked out, and we're excited to continue following what you're building. And don't be a stranger to the show. Let us know if there's anything that you are excited to tell tell the world about. We'd love to have you back on.

**Mouloukou Sanoh** (26:49)

I appreciate it, my man. Thank you so much, guys. Again Right on. Very, very honored to be on, guys. I can't wait to see both of you in New York very soon.

**Drew Rogers** (26:57)

Awesome.