🚨 Ep. 102 of @TokenizedPod: OCC Bank Charters Will Usher Stablecoin Adoption Wave @sytaylor & @cuysheffield are joined by: 👉 @nick_van_eck, Co-Founder & CEO, @withAUSD 👉 @shivsiroya, Founder & CEO, @talamobile To discuss: 🏛️ Agora OCC charter enables U.S. stablecoin banking one stop shop 👀 Tala sees credit access as missing stablecoin adoption layer 🌍 EU MiCA reserve rules and multi-jurisdiction stablecoin restrictions 🌐 Local currency stablecoins, yield, and emerging market borrowing preferences 💳 SoFi moves $25 billion card program to seven day stablecoin settlement ⛓️ Blockchain.com and NYSE explore 24/7 tokenized stocks and ETFs 📊 24/7 tokenized stock trading faces liquidity and NAV challenges 🤖 Tokenized assets as collateral and underwriting AI agents 🇬🇧 UK banks test interbank tokenized deposits for 24/7 settlement 🏦 Tokenized deposits and stablecoins as complementary banking infrastructure *** Timestamps: 00:00 Introduction 03:15 Agora OCC charter enables U.S. stablecoin banking one stop shop 07:57 Tala sees credit access as missing stablecoin adoption layer 14:11 EU MiCA reserve rules and multi-jurisdiction stablecoin restrictions 24:07 Local currency stablecoins, yield, and emerging market borrowing preferences 25:06 SoFi moves $25 billion card program to seven day stablecoin settlement 33:28 Blockchain.com and NYSE explore 24/7 tokenized stocks and ETFs 39:05 24/7 tokenized stock trading faces liquidity and NAV challenges 41:47 Tokenized assets as collateral and underwriting AI agents 44:48 UK banks test interbank tokenized deposits for 24/7 settlement 49:09 Tokenized deposits and stablecoins as complementary banking infrastructure *** 👉𝘚𝘦𝘢𝘳𝘤𝘩 '𝘛𝘰𝘬𝘦𝘯𝘪𝘻𝘦𝘥 𝘗𝘰𝘥𝘤𝘢𝘴𝘵' 𝘖𝘯 𝘠𝘰𝘶𝘛𝘶𝘣𝘦. 𝘈𝘱𝘱𝘭𝘦, 𝘚𝘱𝘰𝘵𝘪𝘧𝘺 𝘰𝘳 𝘢𝘯𝘺 𝘗𝘰𝘥𝘤𝘢𝘴𝘵 𝘗𝘭𝘢𝘺𝘦𝘳! 👈

Founder of Agora Finance, @Nick_van_Eck on Tokenized said that round the clock trading doesn't mean round the clock pricing, and ETF buyers could end up paying for that gap.⁣ ⁣ "If you can only have the APs create and redeem during traditional banking hours, you may have really large deviations from the NAV."⁣ ⁣ "You as a buyer might actually be getting a really bad price by trading on the weekend or trading at night because some of these other things behind the scenes are still relying on the legacy system."⁣ ⁣ "All those people need to get up to date to really have efficient twenty four seven markets, which is going to take a very long time."⁣ ⁣ "There's definitely gonna be periods of thin liquidity like at night or on the weekends."⁣ ⁣ Creation and redemption still run on banking hours even when the index runs on none, so the NAV gap shows up exactly when liquidity is thinnest.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

How do you underwrite an AI agent? The same way you underwrite a borrower with no credit history. @shivsiroya explained on @TokenizedPod how Tala's playbook for underwriting thin-file borrowers can carry over to agentic finance.

Every major crypto exchange now has a tokenized stock strategy! ⁣ ⁣ Head of Crypto, Visa and our cohost @cuysheffield on the latest episode of Tokenized said that crypto exchanges are turning into general purpose brokerages.⁣ ⁣ "It feels like crypto exchanges are just becoming general purpose brokerages very quickly."⁣ ⁣ "Every major one seems to have a tokenized stock strategy."⁣ ⁣ "The infrastructure and the experience that crypto exchanges have created around trading is arguably just a more convenient, easier way to interact with assets that is twenty four seven by default, you have self custodial options and just more flexibility for consumers."⁣ ⁣ "It feels like at this stage, particularly with Robinhood's entry into the space, every company needs to have a strategy for what are they doing with tokenized stocks, which a year or two years ago, there was very little happening."⁣ ⁣ A year or two ago tokenized stock strategies barely existed. Now the open question is how the SEC treats them.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

From TradFi giants to stablecoin leaders. September on Tokenized brought together guests from @LSEGplc, @circle , @ModernTreasury , @StellarOrg and more: Ep 99: @AdaVaughan , Darko Hajdukovic Ep 100: @cyril_mathew , @mattgmarcus Ep 101: @chandhok , Simone Maini Ep 102: @Nick_van_Eck, @shivsiroya Listen to every episode on Tokenizedpod(dot)com

Founder of @withAUSD, @Nick_van_Eck on why enterprises won’t rely on one stablecoin provider with hosts @sytaylor and @cuysheffield : ⁣ ⁣ "I think what we're seeing for the most part is people want simplicity."⁣ ⁣ "If you are a large enterprise though, you may want redundancy."⁣ ⁣ "It's like how every company has more than one bank account just for redundancy sake."⁣ ⁣ "I think there's gonna be a large part of the market that wants that one stop shop, but there will absolutely be more complex use cases or localized use cases where they may want different providers."⁣ ⁣ Infrastructure providers will have to serve both ends at once, a simple default stack for most firms and a redundant, multi-provider setup for the largest ones.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Circle's CPTO, @chandhok talked about Circle's work with banks when he was on Tokenized last week. "We are also in the business of serving financial institutions and giving them infrastructure" "The end user may still want like fiat for some portion of the world or some set of users in some portion of the world, and we need that capability." 🎙 Listen to the full episode on Tokenizedpod(dot)com

Founder & CEO of @talamobile, @shivsiroya on latest episode of Tokenized on Europe's Market Fragmentation ⁣ ⁣ "So it is 27 different distinct markets that are in Europe. And so I think the fragmentation is real and that the consumer behaviour is actually very different across markets."⁣ ⁣ "What we see is, you know, in Germany, we do see a heavy cash culture. But then you look at a market like a Lithuania. Right? And you see very much a digital culture there."⁣ ⁣ "It's still gonna be paramount on the service providers, obviously, as well as the central banks, but on the service providers to still be able to offer an experience that I think bridges both worlds here."⁣ ⁣ "You actually need to be able to still, for us, have real world utility cash rails, physical cash rails. So these on and off ramps that are at retail centers, remittance centers, mobile money wallets, traditional bank accounts."⁣ ⁣ One platform, 27 markets, and each one needs its own mix of cash-out points and digital wallets before it works at all.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Founder of @withAUSD, @Nick_van_Eck on what’s bringing telcos into stablecoins with hosts @sytaylor and @cuysheffield said: ⁣ ⁣ "The charter gives them the comfort of, I'm working with a banking partner, and someone that is highly regulated, and I can trust with my assets."⁣ ⁣ "The first telco that we've gone live with is NuevaTel in Bolivia."⁣ ⁣ "Bolivia is highly dollarized, a lot USDT usage actually."⁣ ⁣ "They're going to be offering wallets and dollar stablecoins to their Bolivian customers powered by Agora."⁣ ⁣ "Our mission is how can we really export US capital markets and quality financial services to the rest of the globe."⁣ ⁣ For NuevaTel's customers, a dollar wallet is as much protection against inflation as it is a payments upgrade.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Founder & CEO of @talamobile, @shivsiroya on Tokenized said the OCC charters are solving stablecoin settlement but the transactions won't grow until consumers actually have purchasing power and credit.⁣ ⁣ "The settlement layer is now starting to be solved."⁣ ⁣ "The piece that's still missing is the access to capital and access to credit piece."⁣ ⁣ "What we're still missing is giving consumers purchasing power and liquidity."⁣ ⁣ "For the last ten years, we've been working on the hardest part of the problem, which is emerging markets, unsecured credit, thin filed consumers, and how to underwrite them."⁣ ⁣ "We've served 14,000,000 customers to date across our 15 markets, but we're now offering our credit engine and our own liquidity to partners."⁣ ⁣ Tala is embedding that underwriting engine inside telco mobile money apps like Airtel, where unsecured credit has never existed before.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

🚨 Ep. 102 of @TokenizedPod: OCC Bank Charters Will Usher Stablecoin Adoption Wave @sytaylor & @cuysheffield are joined by: 👉 @nick_van_eck, Co-Founder & CEO, @withAUSD 👉 @shivsiroya, Founder & CEO, @talamobile To discuss: 🏛️ Agora OCC charter enables U.S. stablecoin banking one stop shop 👀 Tala sees credit access as missing stablecoin adoption layer 🌍 EU MiCA reserve rules and multi-jurisdiction stablecoin restrictions 🌐 Local currency stablecoins, yield, and emerging market borrowing preferences 💳 SoFi moves $25 billion card program to seven day stablecoin settlement ⛓️ Blockchain.com and NYSE explore 24/7 tokenized stocks and ETFs 📊 24/7 tokenized stock trading faces liquidity and NAV challenges 🤖 Tokenized assets as collateral and underwriting AI agents 🇬🇧 UK banks test interbank tokenized deposits for 24/7 settlement 🏦 Tokenized deposits and stablecoins as complementary banking infrastructure *** Timestamps: 00:00 Introduction 03:15 Agora OCC charter enables U.S. stablecoin banking one stop shop 07:57 Tala sees credit access as missing stablecoin adoption layer 14:11 EU MiCA reserve rules and multi-jurisdiction stablecoin restrictions 24:07 Local currency stablecoins, yield, and emerging market borrowing preferences 25:06 SoFi moves $25 billion card program to seven day stablecoin settlement 33:28 Blockchain.com and NYSE explore 24/7 tokenized stocks and ETFs 39:05 24/7 tokenized stock trading faces liquidity and NAV challenges 41:47 Tokenized assets as collateral and underwriting AI agents 44:48 UK banks test interbank tokenized deposits for 24/7 settlement 49:09 Tokenized deposits and stablecoins as complementary banking infrastructure *** 👉𝘚𝘦𝘢𝘳𝘤𝘩 '𝘛𝘰𝘬𝘦𝘯𝘪𝘻𝘦𝘥 𝘗𝘰𝘥𝘤𝘢𝘴𝘵' 𝘖𝘯 𝘠𝘰𝘶𝘛𝘶𝘣𝘦. 𝘈𝘱𝘱𝘭𝘦, 𝘚𝘱𝘰𝘵𝘪𝘧𝘺 𝘰𝘳 𝘢𝘯𝘺 𝘗𝘰𝘥𝘤𝘢𝘴𝘵 𝘗𝘭𝘢𝘺𝘦𝘳! 👈

Founder of @withAUSD, @Nick_van_Eck on how stablecoin payments won’t have just one business model with hosts @sytaylor and @cuysheffield: ⁣ ⁣ "We'll see, and I think you have to do a little bit of a mix and match. Payments is like, oh, you may lose money here to make money here, and so it depends on the customer profile."⁣ ⁣ "I will say for us, we will be very strategic for a lot of these cards providers. We will probably issue, or work with a partner to issue cards at some point next year."⁣ ⁣ "Even on the telco side, they want spendable cards to pair with the wallets and the stablecoin."⁣ ⁣ "We could also just be a pass through with Visa or Mastercard or someone and have a relationship with them and say, we work with these partners, and they would love to light up three million new users."⁣ ⁣ Working through Visa or Mastercard as a pass through means reaching millions of wallet users without building card issuing infrastructure in house.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

Founder & CEO of @talamobile, @shivsiroya on Tokenized said stablecoin wallets grow the same way banks always have, by lending out the deposits they attract.⁣ ⁣ "To actually be able to retain these customers and give them that value, we have to be able to bring in traditional financial services."⁣ ⁣ "If we think about how traditional banks actually make money, it is through lending of these deposits."⁣ ⁣ "Wallets are actually able to earn more off of the deposits consumers are bringing in, and consumers are actually able to make more transactions."⁣ ⁣ "Which again creates that kind of flywheel effect across the marketplace for businesses, as well as these consumers."⁣ ⁣ The mechanism is the same one banks have used for decades, deposits fund credit, credit funds growth, only now it runs through a wallet instead of a branch.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com with hosts @sytaylor and @cuysheffield

.@Nick_van_Eck joined @TokenizedPod to talk about Agora's OCC preliminary conditional approval: "This is probably the most important milestone in the company today." "How do I hold these assets? How do I get from my existing environment to this new environment? What asset am I using? We're now able to solve that out of the box for traditional businesses." "Our mission is how can we really export U.S. capital markets and quality financial services to the rest of the globe." Watch the full conversation 👇

Agora is the one venue for all your stablecoin needs. Wallets, payments, FX, stables, treasury management. Soon.

Shivani Siroya on underwriting AI agents, thin-file consumers and tokenized assets "Yes, we would lend against the tokenized asset in this case because again I think it's not just about what is the asset but it's can you tie the asset to the individual." "The underwriting problem of how do you underwrite an agent is actually the same as how do you underwrite a thin filed consumer. So actually a tokenized asset is actually more than what I have today in terms of collateral." "What I'm really doing today is actually taking an even bigger risk because Tala as a lender, we are actually in charge of KYC. So my first piece is how do I underwrite your identity?" "From there I'm then coming to okay now I'm going to use our intelligence to understand what's the right offer yes no for you. But then from there again I think it's again why the I think agent financial services space is so analogous to the thin filed consumer space is I'm actually using causal inference methods and generalizable models to be able to predict what's the next action that I need to be able to pre-approve for." “So yes, you can approve a consumer for a certain limit, but you're really only authorizing or settling per transaction, but you've got essentially the underwriting already done and pre-approved for an agent, thin-file consumer or a prime consumer.”

Chief Product & Technology Officer @circle, @chandhok on Tokenized said every agent-to-agent deal is about to become its own generative smart contract but auditing millions of agents is the real problem.⁣ ⁣ "We're gonna move from like these few thousand contracts, a few tens of thousands of contracts to like tens of millions of contracts, because all contracts can be generative now."⁣ ⁣ "You and I, your agent and my agent can have a generative contract for a custom exchange of value."⁣ ⁣ "Every Venmo arrangement is a unique contract in my mind."⁣ ⁣ "As soon as they escape their databases, it's my agent is on one system and your agent is on another system, gonna probably come up with a new way of like interacting with each other."⁣ ⁣ Once agents sit on separate systems, someone still has to check that each of those millions of contracts does what it claims before either side trusts it.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com with hosts @sytyalor and @cuysheffiled

CPTO @circle, @chandhok on Tokenized with hosts @sytaylor and @cuysheffield said the core infrastructure for onchain stock markets is arriving now with a full upgrade to US market structure expected within two to three years.⁣ ⁣ "I think everybody understands that this is how you'd want to settle things, this is how you would want to have your markets operate 24/7."⁣ ⁣ "We should see more, just as the core financial infrastructure of like the US stock markets is gonna get upgraded in the next two to three years, it's gonna be chain, there's gonna be new sort of models of managing risk."⁣ ⁣ "I think tokenized stocks is the right thing to do anyway, having these instruments on chain, having settlement on chain, having some of these newer forms of market structure."⁣ ⁣ "These assets can take advantage of these new market structures and these market structures can take advantage of these new assets."⁣ ⁣ That two to three year window covers settlement moving on chain, markets running continuously, and risk management being rebuilt around both.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com