2. Executive Summary
The Core Problem
Global finance is fundamentally broken. Users face:
No unified banking experience (juggling 5+ providers)
No privacy (excessive data collection from banks and crypto on-ramps)
No speed (cross-border transactions take 2–5 days and cost 2–5%)
No intelligence (reactive financial tools, no autonomous agents)
Market Tailwinds
Veil exists at a unique inflection point where multiple forces converge. [file:59]
Market adoption:
Stablecoins (USDC, USDT) reaching mainstream adoption ($150B+ circulation)
23% of crypto holders ready to switch banks for crypto services
62% of banks partnering with fintechs for cross-border payments
Regulatory clarity:
MiCA (EU) – Clear stablecoin rules, live Jan 2024
Singapore – Crypto-friendly regulations with 24/7 settlement rail
Switzerland – Crypto-native bank licenses available
Technology maturity:
Fiat rails (wires, cards, FX) are commoditized
DeFi liquidity is deep and composable
Privacy tech (ZK, MPC) is production-ready
Licensed banking partners exist
AI advancement:
AI enabling autonomous financial management at scale
First platform to integrate AI agents into banking UX will capture switching costs
Last updated