The Block (@TheBlockCo): Your company banks with HSBC in London. A US account isn't an extension. It's a brand-new bank: new KYB, new underwriting, new wait. "Global" banks ar…
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Your company banks with HSBC in London. A US account isn't an extension. It's a brand-new bank: new KYB, new underwriting, new wait. "Global" banks are local subsidiaries. The globe is in the logo, not in the account. Most fintechs sit on one US sponsor bank. SWIFT in, SWIFT out, no local accounts in your name. Having SWIFT doesn't make you global. You send money on Wise and Payoneer, reconcile five dashboards, and pay FX fees to move money between your own entities. You don't need a bank in every country. You need one layer above them all. That's @limitedgrouphq