The End Game For Stablecoins With Edward Woodford
Episode publishedPodcast: EmpireEmpire
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Stablecoins are an alternative payment method as it is like a huge use case. And if you want a technology multiple, you have to think about how you actually use this. Otherwise, you look a lot more like a bank but yet a bank actually is better economics than, for example, Circle because Circle's not a bank. So I think if you look at this kind of people talk about the stablecoin sandwich. I think if you look at the the the layers, you know, Coinbase is in in a really, really great position, with those two pieces.
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we go. Good to see you.
Yeah. You too. I was looking back at the, calendar to see the the the first time we ever met. It was October 2018. Wow. At Palm's office. Do you remember that?
I do. I do. Yeah. I remember flying in for that podcast because it had to be in person. Yeah. I remember landing, like it was delayed 02:30, and I turned up at, like, 8AM. I
think it was yeah. Exactly. It
was, I would like to listen back to that.
It'd be kind of interesting. I know you definitely don't wanna listen back. I can assure you, you'd never wanna listen to old episodes of someone who's made that mistake. You're like, talk and cringe. Well, anyway, so I I wanted to make this episode, about the business behind stablecoins. And the context here is, sir, you know, Circle's IPO just, they they announced their IPOing, so they had to file the, I think it was the s one. So a bunch of their numbers got revealed. Very interesting. Yeah. Tether is obviously making the rounds right now. Powell is kinda doing the podcast tour, talking abo
Absolutely. So we we're we're like an infrastructure layer to make it really, really easy to abstract away all the complexity around stable coins and crypto. So we take on the regulatory burden. We also take on the technical burden. Right? So, you know, if I'm looking to send you a stable coin, you might be on one chain, I might be on another. How do you abstract away that complexity? Secondly, you know, groups like Cauchy don't wanna think about, hey, I now need to buy a fraction of Solana to be able to accept a stablecoin. So we abstract that all away. Our goal is to make this a really, real
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