Episode Details

Ever wondered why your bank transfer sits in "pending" for three days while crypto moves in seconds? It turns out the technology for instant settlement has existed for decades — banks just choose not to use it for your money. This episode traces your hundred dollars from Chase to Barclays, through correspondent banks, SWIFT messages, and the mysterious nostro/vostro accounts that make international transfers possible. We explain why the delay isn't technical but economical, why remittances to developing countries still cost six to eight percent, and what real-time systems like FedNow and India's UPI are actually changing.