We need to leapfrog what they [WeChat] have done, to create better experiences than you would get with dedicated apps. When WeChat launched, there was no Airbnb, Uber or other fast-growing apps.
By spring of 2021, we had addressed every last possible regulatory concern across financial crime, money laundering, consumer protection, reserve management, buffers, and so much more, and we were ready to launch.
There was no legal or regulatory angle left for the government or regulators to kill the project. It was 100% a political kill, one that was executed through intimidation of captive banking institutions.
Not that we had failed, but that America, this country I immigrated to and became a proud citizen of because of its rule of law and value system, behaved in such a way for political reasons.
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