> For the complete documentation index, see [llms.txt](https://docs.laso.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.laso.finance/laso-finance-metadao/range-bound-revenue.md).

# Range-Bound Revenue

For most of Laso's history, the company's primary focus was on reloadable prepaid card programs, while maintaining the same privacy-focused approach it has today.

![](https://4199652940-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F594XROWggjchM2lduPt1%2Fuploads%2F88RlOyXtmg9mCmx3t0RJ%2Fimage.png?alt=media\&token=372f5741-fce7-412b-a973-7cd1fe447969)

* Source URL: `https://laso.finance/stats` (All-time revenue chart)

**The Volatility of Reloadable Programs**

Although reloadable programs operated within existing regulatory frameworks, they carried a significantly higher perceived money laundering risk from the issuing banks' perspective.

While Laso provided detailed compliance information, issuing banks would periodically decide to stop supporting them. When that happened:

* Programs were abruptly shut down.
* Periods of sharp revenue volatility were created.
* Long-term, predictable growth became difficult to sustain.

Initially, our team believed reloadable cards offered the best possible user experience. However, the repeated shutdowns proved that this model was simply not stable enough to build a long-term business around.

**The Pivot to Non-Reloadable Cards**

As a result, Laso shifted its focus this year to non-reloadable prepaid cards. These function similarly to purchasing a Visa or Mastercard gift card with cash at a retail store, offering:

1. A privacy-preserving onboarding experience for the user.
2. A far more stable, predictable, and sustainable foundation for the business.

```
       [ Old Model: Reloadable ]               [ New Model: Non-Reloadable ]
 High perceived risk + Bank dependency    →    Retail-style stability + Scalable 
```

**Scale Breeds Stability**

This structural change does not completely eliminate the possibility of future program changes, but operating at a larger scale significantly improves our overall stability.

As transaction volume grows, Laso can build more direct, resilient relationships with issuing banks. Higher-volume programs generate more meaningful revenue for banking partners, making it worthwhile for them to invest in the ongoing compliance work required to support those programs over the long term.

At Laso's previous scale, the revenue generated from reloadable programs often wasn't sufficient to justify that continued compliance investment from issuing banks. Rather than relying on programs that could be discontinued unexpectedly, Laso chose to focus on non-reloadable cards as the foundation for sustainable, long-term growth.