Stepan Simkin (Squads) on Stablecoin-Powered Financial Services (EP.688)
Episode publishedPodcast: On The Brink with Castle Islan...On The Brink with Castle Island
Transcript preview
Preview only
Today, I sat down with Stepan Simkin, the founder of Squads. Squads started in 2021 as a multi signature wallet product, effectively a crypto savings account for Solana based protocols and companies. Over time, the company has evolved into a much fuller financial platform, serving the treasury and financial operations needs of a significantly wider set of global customers using stablecoins. Today, that broader business finance account platform is called Altitude, while Squads continues on as the original crypto native account for protocols. Stepan and I discuss the company's evolution into bei
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, which 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 with a new round of quantitative easing.
They 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.
Stefan, thanks for sitting down with us today. I wanna kick off with how do you describe Squads, and how do you describe the company you guys are today?
First of all, thanks so much for having me. I think the way we describe the company has evolved over time, just like we evolved and the industry evolved as well. The way we think about Squads today is we're a financial services company. That is a very short description. And then a longer one would be we're a stablecoin powered financial services company building infrastructure and services layer for the stablecoin economy. And, yeah, I'm excited to dive into what that actually means on the podcast today with you.
How do you map who you consider to be the other core players in stablecoin stacker, or who else do you rely on? Because you have issuers like a Circle or Tether, and then you have other custody providers like maybe an Anchorage who are also in the banking space or Fireblocks. So where do you feel like you guys sit, and what do you think are the important businesses at a high level longer term?
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.