Visa Stablecoin Settlement Hits $20BN - Up 15X

Elise Soucie Watts (0:03)

I personally still think in the UK they'll regulate it as gambling, because as you say, of the history of regulation. But also, I'm not totally sure that the FCA would want to take all of that in under their regulatory umbrella when they're just about to roll out their new crypto regime.

Pet Berisha (0:18)

I had to VPN and show her that this is an exchange that I've regularly used, and loads of customers in the UK have regularly used for the last 20 years.

And her mouth was like gaping. She could not believe that this is a platform that UK customers and European customers have been using for a long time. And not only that, it does $200 billion dollars of volume a year.

Cyril Mathew (0:39)

You know, I believe in 10 years we'll have the solution across 200 countries. I'm not a stable point in zealot in thinking that these flows can work better in 100 plus countries. Yeah, there's not enough liquidity in many of these markets. There's not enough regulatory clarity. But we're in 50 plus and that's growing.

Matt Marcus (0:53)

In America, it's actually probably a good thing that this is all like trending towards dollar denominated. Like I'm happy about that. I think it's a great tool for soft power for the country.

Yeah, it makes the dollar more important around the world. So I can see why other places would be concerned about it. But for us, like dollar backed stable coins is a great thing.

Pet Berisha (1:11)

Welcome to Tokenized, the show focused on stable coins and the institutional adoption of Tokenized real world assets. My name is Pet Berisha, MD and co-creator of Tokenized. Stepping in for Simon Taylor, who is abroad, but the British accent stays the same. And also no Kai today.

And we do understand the intense irony of recording episode 100 of Tokenized without either of our hosts. But we're going to do the moneyball thing of replacing a min-aggregate. So stepping in today is the returning and wonderful guest co-host for today.

Elise Soucie Watts, former regulator, policy and regulatory specialist, and Fred of the podcast, HowAreYouElise.

Elise Soucie Watts (1:51)

Hi, everyone. So great to be back. And I'm very honored to be filling in for Kai in this episode, especially as episode 100 I am joining from my maternity leave. So that's why I haven't been around as much lately, but super excited to rejoin as there's been so much going on in the digital assets world. So thanks for having me back.

Pet Berisha (2:11)

Thanks for joining and joining us this week, making their debut, Cyril Mathew, co-founder and CEO of Latitude. How are you, man?

Cyril Mathew (2:20)

I'm good. Thanks for having me on. I've known Cuy and Simon for six close years. I'm refreshed to speak to new people on this version of the podcast.

Excited.

Pet Berisha (2:28)

Sick of those guys. And we do have a returning guest, Matt Marcus, co-founder and CEO at Modern Treasury. How are you, Matt?

Matt Marcus (2:36)

Doing well. It's good to see you, Pat. Last time we hung out, you were eating a Tomahawk steak. So a little bit different scene this time, but happy to be here.

Pet Berisha (2:45)

Before we get into the show, a couple of quick bits. I need to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they represent. Nothing we say should be taken as tax, financial investment or legal advice to your own research.

Also, I'm happy to remind you that this podcast is sponsored by Fireblocks.

SPEAKER_5 (3:08)

Tokenized is sponsored by Fireblocks. Fireblocks is the stable coin infrastructure of choice for global businesses from Visa to WorldPay to Bridge to Revolut. With over $100 billion in monthly stable coin volume, Fireblocks powers stable coin strategies at scale with infrastructure that enables PSPs, Fintechs, remitters and banks to issue, move, hold and manage stable coins. It's all done securely at scale with secure built-in compliance. With Fireblocks, you get complete control to build your own stablecoin orchestration empire, create payment accounts, manage liquidity and access on and off ramps in over 60 currencies. Makes it easier for you to build and scale and expand your business globally. Learn more at fireblocks.com.

Pet Berisha (4:01)

All right, over to story one. Company called Modern Treasury launches non-custodial stablecoin wallets, pairing them with global USD accounts and fiat money movement in one API, in early access across the US and 90 plus countries. Matt, I do a Simon here and read the story out, but since you're here in the virtual flesh, tell us more about this story.