Inside MoonPay's Newest Acquisition: Building AI Accounting for the Stablecoin Era

Why the ledger matters

Kareem Khattab argues the general ledger is the final source of truth before companies report to the street or to their boards. "If it wasn't in the GL, it didn't happen," he said. He predicts stablecoins and dollars will become one and the same, and says all on-chain stablecoin activity has to get to the GL.

He learned this on the cash management, banking and settlements team at Workday, where he spent three years. At WeWork, he says, over 300 full-time accountants and multiple consulting firms were trying to solve the company's accounting. He then joined Cloud Kitchens early on the product team and helped build an entire money platform there.

Small team, complex customers

Kareem Khattab says the launch of ChatGPT prompted him to start Entendre. He built it with his younger brother Omar Khattab, head of engineering, and Andy, head of design, who led web design at Hulu. Khattab says the three have run the company for four years.

Entendre started with crypto infrastructure firms. Polygon Labs has 32 legal entities, Khattab says. The company also announced a partnership with Dual Entry, an AI-native ERP that he says raised $90 million.

Inside MoonPay

Kareem Khattab says Entendre is not a rip-and-replace product. He describes stablecoin accounting as the wedge and expects the company to handle the majority of customers' accounting in the very near future.

AI and the accounting shortage

Kareem Khattab says over 50% of accountants will have retired by 2030, with maybe 3 million CPAs worldwide against $100 trillion of GDP. He says every business needs both a stablecoin strategy and an AI strategy. He describes three levels of AI use, ending with managing multiple concurrent agents, and urges people to reach level three as fast as possible.