Bhavin Vaid (Birch Hill) on Better Markets for Tokenized Assets (EP.700)
Episode publishedPodcast: On The Brink with Castle Islan...On The Brink with Castle Island
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This is Wyatt from Castle Island. And on today's episode, I sat down with Bhavan Vaid, cofounder of Birch Hill. Birch Hill focuses on working with digital asset focused businesses, including asset issuers and trading and lending markets alike, to help them build out compliant, secure, and institutional friendly workflows when enabling users to buy, sell, and hold tokenized assets. We touch more on what this looks like in practice in the episode. Bhavan has spent his career at the intersection of traditional financial markets and crypto asset markets. His first role was in investment banking at
Matt Walsh and Nick Carter are partners at Castle Island Ventures. All of these expressed by them or the guests on this podcast are solely their opinions and do not reflect the opinions of Castle Island Ventures. Casinos may maintain positions in the assets discussed in this podcast. You should not treat any opinion expressed by anyone on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of their personal opinion. This podcast is for informational purposes only.
Brought down by Bad Mortgage Investments, Lehman, has 25,000 employees, will be liquidated. The federal government loans American International Group, AIG, 85,000,000,000. This is a different kind of market, and the Fed is asleep.
The federal government is stepping in to stabilize Fannie Mae and Freddie Mac, the two mortgage giants that have been threatened by the
housing crisis. The Bank of England has pumped £75,000,000,000 more into Britain's ailing economy, and the new round of easy. You print a couple trillion dollars, and all of a sudden, people started to worry. So out of this worry, we have something called the Bitcoin. Bitcoin.
Bobin, thanks for coming in to record in person, which is fun. I'm excited to have this conversation with you. I wanna get started with how you describe Birch Hill, what Birch Hill is, where you guys wanna go, and where you wanna be in the market ultimately.
The broad way I like to describe Birch Hill is that we're an institutional grade risk curator. What that means can be a lot of different things. How we like to describe it is we're building that translation layer that allows traditional institutional capital, think asset managers, credit funds, corporate treasuries, to access on chain credit markets safely and at scale. We're not trying to replace specialist lenders, credit originators. We're providing the on chain capital and operating system to make their deals possible.
To touch on curation, because I wanna dive deeper there, my view of why it's such a commonly used word and why it's a category to emerge in DeFi is because crypto markets started with a lot of these permissionless frameworks where any asset could be listed. People were trading all these altcoins they didn't know a lot about because you had people losing money. You had people making money quickly. So natural need out of that was curation with someone who's going to pick, okay, what should users be seeing? What stuff is safe? Or at least what can you find out about? How would you describe curati
I think explaining what a risk creator actually is is helpful to frame the market structure. Because if you look at the on chain market structure, you have a couple layers. You have trading and lending platforms for centralized exchanges, think Coinbase. You have decentralized venues, think Uniswap on the exchange side or Avan Morpho on the lending side. And then you have asset issuers who create the different financial pro
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