Kevin Piao

同样是年处理五亿美元交易量的跨境支付公司，为什么一家被收购时是 3 倍 Revenue Multiple，另一家是 15 倍？本文通过 AvidXchange、Currencycloud、Nuvei 等真实并购案例，拆解买家的估值逻辑，并提供一份面向中国跨境 FinTech 创始人的 24 个月资产"装修"清单。

In 2024, the FDIC issued consent orders against Sutton Bank and over 45 BaaS-related banks — rewriting the compliance rulebook for every Chinese FinTech seeking a US bank partner. This guide breaks down the real cost of compliance ($2.30–$6.50 per merchant per month), what AI-powered bank monitoring is scanning for in your marketing materials, and why the companies that survive regulatory enforcement cycles inherit the market share of those that don't. Includes a 10-question compliance

Mastercard花18亿美元收购稳定币基础设施公司BVNK，市销率高达45倍。这不是在拥抱未来，这是一笔保级费。与此同时，Visa选择了一条完全不同的路。两家公司面对同一场战争，押注的是两个截然不同的未来。