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π¨ Ep. 13 of Agentic Commerce:Β Payment Networks Are Identity Networks
@sytaylor & @bamazizimesh are joined by:
π @PeteCooling, Founder & CEO,Β @atumhq
To discuss:
ποΈ Building Visa's stablecoin settlement infrastructure and founding Atum
π How Atum connects fragmented payment apps, rails and currencies
π€οΈ Stablecoin payments, fiat settlement operators and future lending opportunities
βοΈ Bringing authorisation, fraud prevention and chargebacks to stablecoin payments
π Digital identity, verifiable credentials and tokenization for secure payments
πΈ How Atum's settlement operators compete to deliver lower-cost payments
π€ X402 and MPP support amid limited agentic payment adoption
π Why stablecoin micropayments could outperform traditional card networks
π High frequency streaming payments and the rise of automated transactions
π€ AI agent hyper negotiation and real time contractor payment arrangements
***
Timestamps:
00:00 Introduction
02:39 Building Visa's stablecoin settlement infrastructure and founding Atum
05:53 How Atum connects fragmented payment apps, rails and currencies
08:43 Stablecoin payments, fiat settlement operators and future lending opportunities
10:34 Bringing authorisation, fraud prevention and chargebacks to stablecoin payments
12:18 Digital identity, verifiable credentials and tokenization for secure payments
18:00 How Atum's settlement operators compete to deliver lower-cost payments
20:58 X402 and MPP support amid limited agentic payment adoption
23:47 Why stablecoin micropayments could outperform traditional card networks
27:16 High frequency streaming payments and the rise of automated transactions
30:49 AI agent hyper negotiation and real time contractor payment arrangements
***
π ππ¦π’π³π€π© 'ππ°π¬π¦π―πͺπ»π¦π₯ ππ°π₯π€π’π΄π΅' ππ― π π°πΆππΆπ£π¦. ππ±π±ππ¦, ππ±π°π΅πͺπ§πΊ π°π³ π’π―πΊ ππ°π₯π€π’π΄π΅ πππ’πΊπ¦π³! π
Tokenized Podcast retweeted
Great conversation, @sytaylor and @bamazizimesh. Thanks for having me! π₯
Founder, @atumhq, @petecooling said tokenized Iientity is finally having its momentβ£
β£
"The digital wallets are really the Trojan horse, and no one talks about it."β£
β£
"Apple Pay comes in, and everyone thinks they're using an Apple payment product, which they are, but it's running through the card rails. It's just the card has been tokenized."β£
β£
"Anyone not pushing for this future of tokenized identity is kind of left at a crossroads. We either push against this or we actually go facilitate this."β£
β£
"Regulators are actually onto it as well and getting very smart and sophisticated about understanding how much data leakage there is if we don't tokenize identity credentials."β£
β£
The card never left the rail, it just stopped being visible, and that shift is now pulling regulators into the plumbing.β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Tokenized Podcast retweeted
It used to cost $20 to place a stock trade. Then programmatic trading made it nearly free.
@PeteCooling thinks payments are next: high-frequency payments, driven by agents.
New @TokenizedPod: Agentic Commerce with @sytaylor and @bamazizimesh.
π§ na2.hubs.ly/H08K8ld0
Founder & CEO, @Atumhq, @PeteCooling said that payments are becoming high frequency tradingβ£
β£
"I have this thesis that payments are going to follow the same exact trend as high frequency trading did."β£
β£
"You used to pay $20 a trade, and you couldn't place a trade for a stock unless it was probably buying $2,000 worth of it to make it worth it for the fee. And now you see payment for order flow and free stock trading."β£
β£
"I think the same exact thing is coming for payments. And so we've built effectively high frequency trading for payments."β£
β£
"The number of payments is going to accelerate meaningfully and really change the economics of the entire industry."β£
β£
Streamed, high velocity, agent-initiated payments shift the unit economics from per-transaction fees to volume.β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Tokenized Podcast retweeted
Payment networks are identity networks. Our founder @PeteCooling on @TokenizedPod with @sytaylor and @bamazizimesh: how authorization, reversals, and verifiable credentials come to stablecoin payments, and how settlement operators compete to move money for less.
Give it a listen!
tokenizedpod.com/episodes/paβ¦
π¨ Ep. 13 of Agentic Commerce:Β Payment Networks Are Identity Networks
@sytaylor & @bamazizimesh are joined by:
π @PeteCooling, Founder & CEO,Β @atumhq
To discuss:
ποΈ Building Visa's stablecoin settlement infrastructure and founding Atum
π How Atum connects fragmented payment apps, rails and currencies
π€οΈ Stablecoin payments, fiat settlement operators and future lending opportunities
βοΈ Bringing authorisation, fraud prevention and chargebacks to stablecoin payments
π Digital identity, verifiable credentials and tokenization for secure payments
πΈ How Atum's settlement operators compete to deliver lower-cost payments
π€ X402 and MPP support amid limited agentic payment adoption
π Why stablecoin micropayments could outperform traditional card networks
π High frequency streaming payments and the rise of automated transactions
π€ AI agent hyper negotiation and real time contractor payment arrangements
***
Timestamps:
00:00 Introduction
02:39 Building Visa's stablecoin settlement infrastructure and founding Atum
05:53 How Atum connects fragmented payment apps, rails and currencies
08:43 Stablecoin payments, fiat settlement operators and future lending opportunities
10:34 Bringing authorisation, fraud prevention and chargebacks to stablecoin payments
12:18 Digital identity, verifiable credentials and tokenization for secure payments
18:00 How Atum's settlement operators compete to deliver lower-cost payments
20:58 X402 and MPP support amid limited agentic payment adoption
23:47 Why stablecoin micropayments could outperform traditional card networks
27:16 High frequency streaming payments and the rise of automated transactions
30:49 AI agent hyper negotiation and real time contractor payment arrangements
***
π ππ¦π’π³π€π© 'ππ°π¬π¦π―πͺπ»π¦π₯ ππ°π₯π€π’π΄π΅' ππ― π π°πΆππΆπ£π¦. ππ±π±ππ¦, ππ±π°π΅πͺπ§πΊ π°π³ π’π―πΊ ππ°π₯π€π’π΄π΅ πππ’πΊπ¦π³! π
ποΈ Listen to the latest episode of Tokenized: tokenizedpod.com/episodes/paβ¦
π· Watch on YouTube: youtu.be/J2Hiv4xFj-w
. @Tempo's @liamihorne On private deposits plugged into Ethereum liquidityβ£
β£
"Ethereum is not private. I think it should be eventually one day, but right now, it's not."β£
β£
"You can have your assets held on a private chain where the holders are private, all the transfers in and out can be private, and you can still have all the compliance objectives that you have in mind, but you still benefit from all of the liquidity and integrations that are on the public blockchain."β£
β£
"My take is probably this lands in something that looks like a tempo zone over time where it's something that a bank will run maybe in their own system so that they have data on premise and so on."β£
β£
"They're gonna wanna integrate with everything on Ethereum and other public blockchains."β£
β£
The bank keeps custody and compliance on its own chain, but settlement still clears through Ethereum's liquidity.β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Tokenized Podcast retweeted
Enterprises building stablecoin programs at the scale of Samsung Wallet and Sony Bank need more than infrastructure.
With millions of users and products spanning multiple markets, they need a partner who can help them shape, build, and launch a stablecoin program tailored to their business while meeting the security, compliance, and regulatory requirements of operating at their scale.
Our CEO @nassyweazy joined @sytaylor on @TokenizedPod to talk about our approach to enterprise-grade infrastructure and why the worldβs largest companies choose Bastion as their stablecoin partner.
. @tempo's @liamihorne says companies donβt need to commit to one rewards strategy from day one as one integration lets them evolve as their customersβ needs change.β£
β£
"They are still kind of experimenting the different ways of giving rewards" β£
β£
"Some of them are just looking for a headline number."β£
β£
"Some of them are very specifically trying to offer, like, a very, very sort of safe product, and maybe they're a little bit more adverse to using crypto backed collateralized lending protocols."β£
β£
"That's one of the reasons why we built Tempo Earn is that because customer needs are still kind of evolving and they're figuring out what their overall strategy is, you can just kind of have one integration."β£
β£
"Over time, as you figure out what you wanna offer or maybe you wanna offer a suite of options to your customers, you can just kind of pick and choose."β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Chief Product & Operations Office, @SPDJIndices, Cameron drinkwater said tokenized stocks create a price formation problemβ£
β£
"The TSVs have to publish their trades, but they don't consolidate into the market consolidated tape. There is no look through trade protection, and the automated market makers on chain can drift quite considerably from the let market price until or unless a trader arbs the price back."β£
β£
"A benchmark is only as good as its integrity in measuring the market that it monitors or that it seeks to represent."β£
β£
"Today, we use the consolidated tape as the gold standard. But as you see this on chain tokenized stock trading grow, there's an open question of how do those trades then feature back into a consolidated tape or not."β£
β£
"What does that mean about the representation of the consolidated tape as representative of the market as a whole."β£
β£
π Listen to the latest episode on Tokenizedpod.com
Tokenized Podcast retweeted
βDon't underestimate those cost savings and the new products you can build once you've got a single record.β
@CuySheffield and @JacqMelinek discuss the index swap by @DRWTrading and Marex on Canton via @Derivnex, with data from @KaikoData, on @TokenizedPod with @SyTaylor.
Investment Partner, @a16z Frontier, @nlevine19 explains why banks' stablecoin deposit-flight fear is overblownβ£
β£
"The concern from banks is that if you can just passively hold USDC on Coinbase and get yield, do we start seeing a significant amount of deposit flight."β£
β£
"We've seen examples historically where there are yield products in the market, things like money market funds, which banks similarly were worried about leading to deposit flight."β£
β£
"Despite things like money market funds existing, deposits have increased."β£
β£
"A lot of the use cases where you're holding stablecoins are related to trading and crypto capital markets, doesn't really align with the core customers of, say, community banks."β£
β£
"I don't think banks should be as worried as maybe they're initially setting out to be, and ultimately it'll blow over over time."β£
β£
Money market funds raised the same fear decades ago, and bank deposits kept climbing regardless.β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Congrats to @TokenizedPod pod regular @HadickM!
We are excited to announce @HadickM and @tomhschmidt have been promoted to Managing Partners, joining @hosseeb and Bo in leading Dragonfly.
The promotions recognize the role both have played in shaping Dragonfly into the firm it is today, and mark the firmβs move to a broader partnership. As co-leaders, Rob and Tom will help carry forward what Dragonfly has always done: backing the founders building the future of money and markets.
Tokenized Podcast retweeted
π¨ Ep. 106 of @TokenizedPod:Β Microsoft & Goldman Sachs Say No to Tokenized Stocks
@cuysheffieldΒ is joined by:
πΒ @nlevine19,Β Investment Partner,Β @a16z Crypto
πΒ Cameron Drinkwater, Chief Product & Operations Officer, @SPDJIndices
πΒ @liamihorne, Product & Engineering,Β @tempo
To discuss:
π§ OCC GENIUS Act rules on stablecoin yield and rewards programs
π CLARITY Act loophole and alternative ways to earn stablecoin yield
π¦ J.P. Morganβs tokenized deposits and interoperability with stablecoins
ποΈ S&P's programmable tokenized index funds and automated portfolio rebalancing
π Tempo Zones balancing institutional privacy and public blockchain interoperability
π S&Pβs OpenZeppelin acquisition and the future of smart contract security
π€ AI-driven cyberattacks and growing demand for crypto security expertise
π³ Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
βοΈ Major companies objecting to tokenized stock trading on OKX ICE
π€ Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
Timestamps:
00:00 Introduction
02:26 OCC GENIUS Act rules on stablecoin yield and rewards programs
05:52 CLARITY Act loophole and alternative ways to earn stablecoin yield
10:00 J.P. Morganβs tokenized deposits and interoperability with stablecoins
14:24 S&P's programmable tokenized index funds and automated portfolio rebalancing
17:39 Tempo Zones balancing institutional privacy and public blockchain interoperability
20:00 S&Pβs OpenZeppelin acquisition and the future of smart contract security
25:00 AI-driven cyberattacks and growing demand for crypto security expertise
29:01 Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
35:00 Major companies objecting to tokenized stock trading on OKX ICE
45:22 Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
πππ¦π’π³π€π© 'ππ°π¬π¦π―πͺπ»π¦π₯ ππ°π₯π€π’π΄π΅' ππ― π π°πΆππΆπ£π¦. ππ±π±ππ¦, ππ±π°π΅πͺπ§πΊ π°π³ π’π―πΊ ππ°π₯π€π’π΄π΅ πππ’πΊπ¦π³! π
Product & Engineering, @tempo, @liamihorne on why more onchain infrastructure can mean less integration workβ£
β£
"If we have these kind of tokenized deposit assets that you can use those as collateral for stablecoins."β£
β£
"I've seen experiments of that with some stablecoin issuers, and it's really, really useful because then you can programmatically distribute out which assets are backing which stablecoin at different times."β£
β£
"It's kind of this ironic thing where actually, the more stuff you put on chain, the less integration work there is on the back end."β£
β£
"So it actually, weirdly, it goes faster if you do more stuff on chain."β£
β£
Putting the collateral itself on chain lets issuers show which assets back which stablecoin at any given moment, removing the manual reconciliation that normally sits behind reserve reporting.β£
β£
π Listen to the latest episode on Tokenizedpod(dot)com
Tokenized Podcast retweeted
Moving more assets onchain can actually mean less integration work on the backend.
Watch @liamihorne explain how using tokenized deposits as stablecoin collateral could let issuers manage their reserves programmatically:
π¨ Ep. 106 of @TokenizedPod:Β Microsoft & Goldman Sachs Say No to Tokenized Stocks
@cuysheffieldΒ is joined by:
πΒ @nlevine19,Β Investment Partner,Β @a16z Crypto
πΒ Cameron Drinkwater, Chief Product & Operations Officer, @SPDJIndices
πΒ @liamihorne, Product & Engineering,Β @tempo
To discuss:
π§ OCC GENIUS Act rules on stablecoin yield and rewards programs
π CLARITY Act loophole and alternative ways to earn stablecoin yield
π¦ J.P. Morganβs tokenized deposits and interoperability with stablecoins
ποΈ S&P's programmable tokenized index funds and automated portfolio rebalancing
π Tempo Zones balancing institutional privacy and public blockchain interoperability
π S&Pβs OpenZeppelin acquisition and the future of smart contract security
π€ AI-driven cyberattacks and growing demand for crypto security expertise
π³ Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
βοΈ Major companies objecting to tokenized stock trading on OKX ICE
π€ Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
Timestamps:
00:00 Introduction
02:26 OCC GENIUS Act rules on stablecoin yield and rewards programs
05:52 CLARITY Act loophole and alternative ways to earn stablecoin yield
10:00 J.P. Morganβs tokenized deposits and interoperability with stablecoins
14:24 S&P's programmable tokenized index funds and automated portfolio rebalancing
17:39 Tempo Zones balancing institutional privacy and public blockchain interoperability
20:00 S&Pβs OpenZeppelin acquisition and the future of smart contract security
25:00 AI-driven cyberattacks and growing demand for crypto security expertise
29:01 Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
35:00 Major companies objecting to tokenized stock trading on OKX ICE
45:22 Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
πππ¦π’π³π€π© 'ππ°π¬π¦π―πͺπ»π¦π₯ ππ°π₯π€π’π΄π΅' ππ― π π°πΆππΆπ£π¦. ππ±π±ππ¦, ππ±π°π΅πͺπ§πΊ π°π³ π’π―πΊ ππ°π₯π€π’π΄π΅ πππ’πΊπ¦π³! π
Fintech is now ~4% of global financial services revenue and growing 4x faster than incumbents. So what should a bank do about it?
Founder at MIT Cryptoeconomics Lab, @ccatalini on Tokenized recently said that banks should disrupt themselves before Fintech does.
βI think if I was leading a global bank, I would just embrace it and rather disrupt myself than waiting to be disrupted.β
βRight now, customers will want more choice. They will want better products and services. You can be ahead of that game.β
βIf you look at the music labels, the ones that embraced streaming and understood that the economics of distribution of music were going to zero, and they had to win in a different game.β
βThe blockbuster late fees in the financial services industry are going away, and we should play by new rules.β
π Listen to the latest episode on Tokenizedpod(dot)com
π¨ Ep. 106 of @TokenizedPod:Β Microsoft & Goldman Sachs Say No to Tokenized Stocks
@cuysheffieldΒ is joined by:
πΒ @nlevine19,Β Investment Partner,Β @a16z Crypto
πΒ Cameron Drinkwater, Chief Product & Operations Officer, @SPDJIndices
πΒ @liamihorne, Product & Engineering,Β @tempo
To discuss:
π§ OCC GENIUS Act rules on stablecoin yield and rewards programs
π CLARITY Act loophole and alternative ways to earn stablecoin yield
π¦ J.P. Morganβs tokenized deposits and interoperability with stablecoins
ποΈ S&P's programmable tokenized index funds and automated portfolio rebalancing
π Tempo Zones balancing institutional privacy and public blockchain interoperability
π S&Pβs OpenZeppelin acquisition and the future of smart contract security
π€ AI-driven cyberattacks and growing demand for crypto security expertise
π³ Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
βοΈ Major companies objecting to tokenized stock trading on OKX ICE
π€ Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
Timestamps:
00:00 Introduction
02:26 OCC GENIUS Act rules on stablecoin yield and rewards programs
05:52 CLARITY Act loophole and alternative ways to earn stablecoin yield
10:00 J.P. Morganβs tokenized deposits and interoperability with stablecoins
14:24 S&P's programmable tokenized index funds and automated portfolio rebalancing
17:39 Tempo Zones balancing institutional privacy and public blockchain interoperability
20:00 S&Pβs OpenZeppelin acquisition and the future of smart contract security
25:00 AI-driven cyberattacks and growing demand for crypto security expertise
29:01 Visa & Mesh enabling embedded stablecoin wallet payments at global merchants
35:00 Major companies objecting to tokenized stock trading on OKX ICE
45:22 Tokenized equities enabling direct shareholder relationships and loyalty rewards
***
πππ¦π’π³π€π© 'ππ°π¬π¦π―πͺπ»π¦π₯ ππ°π₯π€π’π΄π΅' ππ― π π°πΆππΆπ£π¦. ππ±π±ππ¦, ππ±π°π΅πͺπ§πΊ π°π³ π’π―πΊ ππ°π₯π€π’π΄π΅ πππ’πΊπ¦π³! π
ποΈ Listen to the latest episode of Tokenized: tokenizedpod.com/episodes/miβ¦
π· Watch on YouTube: youtu.be/l7C5IWlXJ9I
