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Rebuilding Global Banking With Stablecoins and AI | Deep Dives with Jeeves CEO

a16z Deep Dives · 2026-05-28 · 36 min

https://www.youtube.com/watch?v=9ByXad_Ymvg
#Latin America#USDC#Dileep Thazhmon#enterprise banking#Jeeves#Argentina#onchain finance#programmable money#stablecoins#AI underwriting
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Video summary

Jeeves CEO Dileep Thazhmon says stablecoins and AI helped grow revenue 10x while expanding its enterprise banking platform across Latin America.

Jeeves founder and CEO Dileep Thazhmon describes building a stablecoin-native financial operating system for enterprises in 25 countries, drawing on his international upbringing and the $106 million sale of his previous company. The firm built its own ledger and payments infrastructure, secured local card issuing and licenses, and shifted in 2023 toward mid-market and enterprise clients. Stablecoins now settle more than half of international payments; payment volume rose from about $400 million to over $3 billion, with $6 billion expected this year. In Argentina, Jeeves is launching a card that converts pesos to USDC, protecting funds from currency volatility without FX fees. AI supports underwriting, customer service, and document checks: four underwriters handle $2–3 billion in volume, while staff fell from 200 to 140 as revenue grew 10x and volume 8x. Thazhmon sees onchain finance and programmable money as the next phase.

Chapters

  1. 0:00Founder Story and Jeeves Overview: From Payoneer Inbox to Cards in 25 Countries
  2. 3:37Building Moats: Jeeves’ 25-Country Ledger, Local Licenses, and Margins Above 80%
  3. 10:02Enterprise Focus: 2023 Shift, 10x Revenue Growth, and Brazil Localization
  4. 13:09Enterprise Focus: Brazil’s Localized Cards API and Nubank Travel Use Case
  5. 15:20Stablecoin Rails: Argentina’s 60% Adoption and Jeeves’ Shared USDC Ledger
  6. 19:33Argentina Stablecoin Card: Peso-to-USDC Conversion, No Local FX Fee, and a Peru Blueprint
  7. 22:06AI Boosts Efficiency: Four Underwriters Support $2–3 Billion in TPV
  8. 24:57Onchain Future and Founder Lessons: Jeeves’ Stablecoin Stack, USDC Receivables, and 99%-Accurate GL Coding
  9. 28:00Onchain Future and Founder Lessons: Jeeves’ Card-Spend Focus, Local GMs, and Senior Hires
  10. 32:15Onchain Future and Founder Lessons: Jeeves’ 10x Revenue Growth, AI Underwriting, and Open Claw Prototype

What the full analysis includes

10 chapters · 52 key points · 10 section summaries · mind map

Preview of the first chapter · Founder Story and Jeeves Overview: From Payoneer Inbox to Cards in 25 Countries

  • •Dileep grew up across Nigeria, Qatar, and Florida.1:12
  • •His engineering thesis explored genetic algorithms mimicking money markets in 2006.2:03
  • •Dileep sold marketing automation company Payoneer Inbox for about $106 million.2:29

The remaining 49 key points, section summaries and mind map are in the full analysis. Analyze this video to see everything →

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