Your BINs May Be in the AI Grey Market
Users in China are buying access to U.S. AI models through crypto-funded cards issued on U.S. BINs. We spoke with an operator inside that market — and mapped the four or five layers of resellers that sit between the program manager and the people actually spending.
Does a Payment Facilitator Actually Need a Money Transmitter License?
Most teams assume a sponsor bank relationship means no state money transmitter licenses. The U.S. Payment Facilitator handbook shows why licensing is earned — by how your money moves and how your contracts are written.
The Stablecoin Card Question in LATAM Isn't "Which Country" — It's "Which Issuer"
Regulation isn't the binding constraint on stablecoin cards in LATAM. The issuing partner is — BIN sponsorship, compliance appetite, and whether a stack can go live inside your runway. Five providers, two theories of entry.
