🚨 Ep. 105 of @TokenizedPod: Is the Stablecoin Sandwich Dead? @sytaylor & @cuysheffield are joined by: 👉 @jacqmelinek, Founder & CEO, @StrataMedia_ 👉 @manueljgodoym, Co-Founder & CEO, @Felixpago To discuss: 🏛️ Mastercard and BVNK launch unified fiat and stablecoin accounts ↔ Visa Direct launches stablecoin-powered cross-border money movement and payouts ❗️ Stablecoin liquidity challenges across smaller Latin American remittance corridors 💳 Rain launches embedded stablecoin wallets and vertically integrated payments infrastructure 🔎 Hiding stablecoin complexity from customers and unlocking DeFi adoption 🔮 How stablecoin yield could transform traditional remittance business models 🥊 USDC and USDT dominance versus emerging branded stablecoin competitors ⛓️ DRW and Marex execute tokenized index swap on Canton 🌍 USDC becomes the EU's first significant e-money token under MiCA 🏦 Kraken's parent Payward acquires Lithuanian bank to accelerate European expansion *** Timestamps: 00:00 Introduction 01:00 Mastercard and BVNK launch unified fiat and stablecoin accounts 05:52 Visa Direct launches stablecoin-powered cross-border money movement and payouts 10:22 Stablecoin liquidity challenges across smaller Latin American remittance corridors 15:44 Rain launches embedded stablecoin wallets and vertically integrated payments infrastructure 21:23 Hiding stablecoin complexity from customers and unlocking DeFi adoption 24:16 How stablecoin yield could transform traditional remittance business models 29:38 USDC and USDT dominance versus emerging branded stablecoin competitors 34:26 DRW and Marex execute tokenized index swap on Canton 40:36 USDC becomes the EU's first significant e-money token under MiCA 46:21 Kraken's parent Payward acquires Lithuanian bank to accelerate European expansion *** 👉𝘚𝘦𝘢𝘳𝘤𝘩 '𝘛𝘰𝘬𝘦𝘯𝘪𝘻𝘦𝘥 𝘗𝘰𝘥𝘤𝘢𝘴𝘵' 𝘖𝘯 𝘠𝘰𝘶𝘛𝘶𝘣𝘦. 𝘈𝘱𝘱𝘭𝘦, 𝘚𝘱𝘰𝘵𝘪𝘧𝘺 𝘰𝘳 𝘢𝘯𝘺 𝘗𝘰𝘥𝘤𝘢𝘴𝘵 𝘗𝘭𝘢𝘺𝘦𝘳! 👈

Head of Crypto at Visa and host @cuysheffield on why global money moving platforms increasing need stablecoins: ⁣ ⁣ "I think every global money movement platform has to integrate stablecoins in some way, and I think we're seeing that across the board, that it's just becoming a table stakes feature that customers expect."⁣ ⁣ "If you could start with fiat, we'll just use the stablecoin on the back end, convert back into fiat, like that was the use case that was kind of the easiest to get the most skeptical person to say, okay, maybe that'll work."⁣ ⁣ "Now I hear a lot more about either stablecoin in, fiat out, or fiat in, stablecoin out, and in some ways it feels like those are actually easier flows."⁣ ⁣ "What we announced today was stablecoin prefunding, being able to send a stablecoin to Visa for us to pay out in fiat."⁣ ⁣ "Banks say, okay, I wanna be able to reach stablecoin wallets, but I don't wanna deal with the stablecoin, so I'll send you fiat, and then you pay out in the stablecoin."⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Cofounder @felixpago, @manueljgodoym said they build Felix around users, because users don’t care about crypto rails⁣ ⁣ "They trusted deeply going to physical stores, and they really couldn't care less how the money got to the other side. I always say that it could be a donkey carrying the money to the border."⁣ ⁣ "As a native Venezuelan myself, I witnessed how a centralized government can destroy a currency, you essentially very easily understand the value of crypto."⁣ ⁣ "We extremely value this world in which you have fiat and stablecoin working together because fiat is not going away."⁣ ⁣ "Now seeing all these being live, like this launch of Mastercard and BVNK partnership and platform, it's gonna accelerate the adoption of stablecoins. Users are gonna win. They're gonna see lower fees, faster money movement."⁣ ⁣ Before stablecoin sandwiches existed, Félix built its own fiat and stablecoin rails side by side, splitting trades across both to cut costs and pass the savings to users.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Host @sytaylor talked about the single record behind 24/7 markets with co host @cuysheffield and guests @manueljgodoym and @jacqmelinek:⁣ ⁣ "The reason money gets stuck and money slows down and has to close at the weekend is so people can catch up with what the traders were doing and kind of let all of those processes run."⁣ ⁣ "Generally, incumbents start at cost savings, but there's also a bunch of revenue opportunities that come out the other side of it."⁣ ⁣ "Don't underestimate those cost savings and what that can mean and the new products you can build once you've got a single record."⁣ ⁣ "That's what enables all of this twenty four seven stuff we love, and the programmability is you need that single record in the first place."⁣ ⁣ Weekend closures exist to let reconciliation catch up, not because markets need rest. Remove the lag and the closure has no reason to exist.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Co-Founder & CEO, @Felixpago, @manueljgodoym said Hide the Stablecoin, Sell the Outcome⁣ ⁣ "We serve blue collar workers, migrant workers in The US that send money abroad."⁣ ⁣ "We're making it just easy for the person here."⁣ ⁣ "It doesn't matter to them."⁣ ⁣ "More and more users are never gonna know or care that stablecoin is behind the scenes."⁣ ⁣ The product sells the remittance, not the rail, so the stablecoin layer stays invisible to the person actually sending money.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Founder @StrataMedia_ , @jacqmelinek breaks down how Rain is assembling cards, stored value, regulatory infrastructure and wallets into a vertically integrated payments stack on Tokenized⁣ ⁣ "ANSA for stored value came in August."⁣ ⁣ "The OCC trust charter filing, although it's not approved, but they filed."⁣ ⁣ "I kinda see the company moving from just being a card issuer behind someone else's app to really kinda holding the balances."⁣ ⁣ "Whoever holds the balance owns the customer."⁣ ⁣ "Rain just moved away from just the card side to actually having the full account."⁣ ⁣ Four separate filings in under a year point to one card issuer trying to become the account of record.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

⁣ Co-Founder & CEO, @Felixpago, @manueljgodoym thinks USDC and USDT win the stablecoin race, here's what he said on Tokenized:⁣ ⁣ "I believe there's only gonna be, two stablecoins winners, and it's gonna be USDC and maybe USDT."⁣ ⁣ "I think the other ones that are being created, they don't make any sense."⁣ ⁣ "The USDC and USDT is gonna be continually much more prevalent everywhere in the world, and that's gonna improve the liquidity."⁣ ⁣ "What matters about stablecoin is the fact that it's pegged to the US dollar."⁣ ⁣ "They want the stability of the dollar. They want the reliability of the dollar. They want the reputation of the dollar."⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

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On Tokenized, @sytaylor said fintechs need handholding for stablecoin yield: ⁣ ⁣ "Once you could stick an earn button on something, whether it's corporates, MSBs, or consumer remittance businesses, they get the business case straight away."⁣ ⁣ "With direct custody of stablecoins, with the ability to essentially through the white label yield sharing, potentially earn some revenue there."⁣ ⁣ "The consumer feels like they're getting a great deal on what was historically maybe a bank account or a local bank giving you nothing. Now you can be getting three, four, five percent, and it's US dollar backed."⁣ ⁣ "A lot of demand from fintech companies to have a bit of handholding."⁣ ⁣ "It's helping people understand what is this product, how do you get comfortable with compliance, what are the differences between these funds, how do you separate them all."⁣ ⁣ The yield sells itself at three to five percent. What fintechs still need before launch is help with custody, compliance and picking the right fund.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Engineer @privy_io, @kaili_jenner on designing privacy for @Deel⁣ ⁣ "Building with Deel as a design partner has been a hugely rewarding experience because not only is it the prime example for when you need privacy"⁣ ⁣ "You don't necessarily need full privacy where even Deel themselves cannot see the payments"⁣ ⁣ "Deel does wanna see the payments and does need to do accounting, etcetera"⁣ ⁣ "Being really clear on what exactly is needed has been hugely helpful in this experience"⁣ ⁣ The privacy layer hides payment details from coworkers while leaving Deel's own accounting and compliance checks untouched.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Our guest for Monday's Tokenized Podcast @sytaylor and @cuysheffield are joined by: 👉 @jacqmelinek, founder, @StrataMedia_ 👉 @manueljgodoym, Co-founder & CEO, @Felixpago Out on Monday at 8am PT / 11am ET / 4pm GMT Find it on 𝗔𝗽𝗽𝗹𝗲 𝗣𝗼𝗱𝗰𝗮𝘀𝘁𝘀, 𝗦𝗽𝗼𝘁𝗶𝗳𝘆 or 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 by searching "Tokenized Podcast" 📷 💙

Co-Founder & CEO, @Bastion, @nassyweazy on why enterprises choose different stablecoin paths⁣ ⁣ "The DNA of Bastion really comes from the problems that we saw firsthand at Meta working on the Libra project, tech leading all of the custody and wallet and cross border payment infrastructure there as well as the issuance of the Libra currency."⁣ ⁣ "Bastion has focused on stablecoin infrastructure specifically for enterprises that need some level of security, compliance, but then just integrations that work for them."⁣ ⁣ "They don't ask anymore what can stablecoins do for me. They actually understand it, and it's more about how do I go about launching that, where do I partner, what do I build myself, where do I obtain my own licenses, where do I leverage someone else's license."⁣ ⁣ "Sony, for example, decided to obtain their own charter, whereas Samsung fully relies on Bastion's licenses."⁣ ⁣ Same technology, two different paths. Sony owns its license, Samsung rents Bastion's.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Engineer @privy_io, @kaili_jenner on privacy as an API config with Privy: ⁣ ⁣ "This is basically the easiest way to add privacy to your fintech stack."⁣ ⁣ "The use of privacy in a stack is more of a configuration on your API calls as opposed to anything really more than that."⁣ ⁣ For most teams, adding privacy becomes one parameter change rather than a new system to build.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Greg Bricca, Head of Product, @morsemoney on consumer rights in tokenised assets with host @sytaylor⁣ ⁣ "Is it really clear for the customer what they have access to."⁣ ⁣ "Not only just the asset, but what this looks like on voting shares, what it looks like on dividends."⁣ ⁣ "Oftentimes, when you have the broadening access, this is often like a first experience for our users."⁣ ⁣ "Not stopping any of the appetite here. The appetite's there."⁣ ⁣ Tokenised shares raise the same question as the underlying stock, whether buyers actually know what rights come with ownership.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Head of Crypto, @Deel, @thierryEdde44 on building a private stablecoin wallet for contractors with host @sytaylor on Tokenized ⁣ ⁣ "The current functionality is they have a wallet they can hold funds into, potentially earn through DeFi, and we're soon adding the ability for them to spend."⁣ ⁣ "We've now migrated fully to the Tempo zones, which allows us to provide our contractors with a fully private experience, meaning they can transact in and out of the zones fully privately and confidentially."⁣ ⁣ "On chain, currently, you can't query balances of any Deel wallets. You cannot receive sender or recipient information or have that visibility."⁣ ⁣ "Deel actually maintain all visibility into the transactions in and out of those wallets while the users and any other parties querying that information on chain will no longer see that."⁣ ⁣ Deel keeps its own backend view of every wallet while the public chain shows nothing, splitting compliance visibility from public visibility.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com