I think you're judging Keeta as if it's already at the end state, when it's still proving out the infrastructure layer.
A few points:
• Keeta Personal isn't the core product. It's the proof that the rails actually work.
• Tokenized KYC by itself isn't revolutionary. Agreed. What's important is that identity, fiat, FX, cards, accounts, permissions and settlement are all being connected on a single network architecture. Most projects talk about this. Keeta is showing it.
• Saying the fiat tokenization is arbitrary ignores what comes next. The value isn't the token itself, it's what tokenized fiat enables: programmable payments, instant settlement, compliance-aware transfers, FX, treasury management, tokenized assets, and cross-border movement without fragmented intermediaries.
• "It's just Bivo and Visa Direct" is like saying Stripe is just a wrapper around banks. The value is the orchestration layer. Infrastructure companies win by connecting systems that don't naturally work together.
• On utilization: every network starts with low usage. Amazon had no merchants. Stripe had no payment volume. The question is whether the rails can support scale once demand arrives. Keeta was literally designed around that problem, with identity, permissions, tokenization, atomic swaps and high-throughput settlement built into the base layer.
• As for token value, that's a fair debate for any infrastructure network. But network utility is not limited to today's fee revenue. The question is whether institutions, applications, assets, payment providers and liquidity providers eventually settle through the network. If they do, token demand looks very different from today.
• The "wrapper" argument also misses the bigger picture. Keeta isn't trying to replace every bank, FX provider or card network. It's creating a common settlement layer that lets them interoperate.
The real question isn't "how much volume does Keeta have today?"
The real question is:
"Has anyone else actually demonstrated identity, tokenized fiat, FX, banking rails, card rails, permissions and compliance infrastructure working together on a purpose-built financial network?"
So far, very few have. That's why people are paying attention.