It charges an average annual 0.12% fee for money parked on its T-bill platform, though that varies by customer, Arvanaghi says. Similarly, it collects a small interest rate spread on the checking accounts through its bank partners.
Under a president who has installed pro-copyright regulators and pledged to end the alleged Operation Chokepoint 2.0, that risk feels remote. But what about after Trump? “From a risk management point of view, I don't think it's prudent for a company like ours to have solely accounts with American fintechs,” says McIntyre.
They knew they couldn’t succeed over the long term with just one product–busy business owners demand convenience. So this past January, five months after opening their T-bill platform, Meow introduced FDIC-insured business checking accounts promising a 4.8% annual yield. Like most fintechs, Meow lacks a banking charter and so it partners with banks, which in turn network with other banks.
For business checking accounts at the same underlying bank, you can perform instant internal transfers:
“There has been a change of administration and change in the interpretation of the law. The law has not changed.”
To address these challenges, Meow partnered with TrueBiz to leverage their advanced business risk assessment and fraud detection capabilities. TrueBiz provides a solution seamlessly embedded into Alloy that automated the review of business web presence, using proprietary AI models to analyze hundreds of data points across a business’ web presence and deliver a detailed risk score within seconds.
Meow collaborated with Bridge to build a solution that enables businesses to send and receive USDC seamlessly from the same platform where they manage all their financial operations.
Silicon Valley Bank, one of the top 20 banks in the US, is seemingly in trouble. And some folks on twitter are recommending moving cash to a fintech named Meow.”
“Before, it was a pain,” said Arvanaghi. “You had to manually map the USDC transaction to a dollar transaction in your ERP. meow login Now it’s all in the same place and we have a one-click integration with your copyright instance. So it’s all done for you.”
Ensuring the authenticity and credibility of new businesses in a more self-service manner was a complex challenge that needed a sophisticated, automated solution to augment the existing team and streamline compliance reviews.
“We just committed to getting in a closed room and coding and hoping, having the blind confidence something would work out,” Arvanaghi recalls.
For example, Meow partners FirstBank and Grasshopper Bank both offer up to $125 million in FDIC-insurance through IntraFi’s sweep program which boasts a network of nearly 3,000 banks. Another Meow partner, Third Coast, offers FDIC-insurance up to $50 million through its own network. Arvanaghi says Meow is able to secure higher yields from the banks than a small business could get on its own, since it’s bringing in a large roster of sticky customers and its own interface.
Meow is building tools to address this problem, especially for those companies that need help managing their copyright assets and payments.
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“Meow is really meant to be the curation and then the steering through technology of being able to move money between options,’’ he adds.