AMA with Stably

Recorded: Jan. 5, 2023 Duration: 0:53:18

Player

Snippets

Good morning everyone.
Good morning. Good morning. Good morning. It's really just three of us right now. How's it going? Doing good. How about yourself?
Same here, same here.
Let me just add more people on how we're doing today. I'm doing all right. Can't come play and get in. They started. Yeah, saying where am I? Where are you based that of?
I'm in San Antonio, Texas. Oh, nice. The weather's good. Oh, yeah, actually the weather is good today.
All right, we're just paying our community and also if you could maybe do this thing when you're in just so we can attract more listeners right now. Yeah.
Gotta love the Twitter. It was, it wasn't able to speak. I'm super excited to talk to you guys today.
Hey Brian, can you hear us? Yes, yeah, I can hear and speak now. It was in this weird little, you know, I was getting soft rocked by Twitter spaces for a second here. Yeah, I know a little bit on your own.
(clicking)
Let's give it like one more minute before we get started. Send a couple tweets out and then we can get rolling.
Sounds good.
Rebecca, you want to kick us off? Yeah, yeah. I think we're good. I see some people trickling and I'm pretty sure we're going to have more listeners. But I promise you I'll be right back up Brian.
joke from Alphadro. Basically like today we wanted to invite Alberto to speak about Stabli. It's their on and off ramp solution for many chains, you know, and for dApps and stuff. And they also utilize like stablecoins, but I want to Alberto obviously to
I have cold floor to speak of it's doubly. But I know that Alberto that you guys kind of weirdly find about Alphan growth in our platform. So definitely also want to touch on this. But maybe let's just introduce ourselves Alberto the floor is yours.
Cool, thank you Rebecca, thank you Brian. Yeah, so my name is Alberto, I'm the business development manager at Stablee and at Stablee we be focused on stablecoin infrastructure. We have two, I guess, two main products. You know, we have stablecoin or Stablee Enterprise, which is our
stablecoin as a service where we have our own stablecoin, USDS, but we also create branded stablecoins for say layer ones or any traditional enterprise that wants to create a branded stablecoin. So for example, on VTain, we expanded USDS, however we
white labeled it as ve USD. And once we build these stablecoins natively onto these layer ones, we then integrate with DAPs, wallets, Dex's, Stable ramps. Stable ramp is our FIA on an off-ramp widget that can be
integrated directly into any DAP, we KYC and KYB users in over 200 different countries. We provide both Fiat on and off ramps, so people are able to ACH back into their account, wire, swift coming soon.
Yeah, to kind of touch on Rebecca's, which I mentioned about alpha growth. I actually found out, like a Cori or CEO and I were looking for our CRM for our team and we were trying to do some research on CRMs and that's kind of where I somehow found
Alfa growth and I believe on LinkedIn and at the time it was a little hard to navigate I think it must have been like what you guys first launched but I mean I love all the improvements you guys have made made it so much user friendly.
It's still hard to navigate. It's gotten a lot of little clear now. I was like, what did that find up for? I have no idea. But for real though, on that point, just for a second, this is
about you guys, but there's a whole entire new ecosystem and the way that business is done is completely changing. We have to take a lot of things into consideration and we're trying to figure out. Thank you for that. A question back to you.
So you guys are like a stablecoin as a service almost yeah yeah. Yeah. Stablecoin is very cool. Yeah. Is this is this all collateralized back? Are you doing some like Algo stable with like you know some crazy inflation rates or? No, no, no, we we focus fully on collateralized I guess stablecoin. So
So we have experience with Fiat, US Dollar, Canadian Dollar, Vietnamese Dung. Additionally, we have experience with gold and working with Kiko, the gold dealer, and creating their KGLD token, KGLD. And their website is Kiko.gold.
to read a little bit more about it on their site. And so we focus on everything that's collateralized. We try not to mess with algo or security tokens just because there's so much more regulations, stuff like that that we're going to have to deal with. So we focus strictly on commodities and fias.
Yeah, so and that and so because if you focus on tokens that potentially are security there's a lot more regulations around that right? Yeah regulations on jurisdictions that we have to be aware of you know
And we think that there's other players in the space that I think are better equipped to serve these projects. Interesting. What so far do you think is your biggest win? Would that be the VE chain integration or like what are you most proud of so far? I think our biggest chain that we
are the we recently launched on I think it's xrp on the xrp ledger so we are the first natively issued stablecoin us dollar stablecoin on xrp ledger so that kind of it has been our biggest win so far and on top
that is Kiko, I mean Kiko is a big gold dealer out of Canada and they move trillions annually so that's another big win that we had I want to say a couple years ago. Very cool and then within that like when they're kind of like positioning stage
What's the main problem or what's the main pain point like these these chains are coming to you with? I guess onboarding new users right so we work most when we expand
our stablecoin we work with chains that don't have a natively issued USDC USDT. So when we expand USDS we're providing a simple stablecoin gateway into their ecosystem without having the user go through a
bridge or through a swapping, right? They can go directly from Fiat to a native stablecoin on their chain. So reduces friction. It eliminates having to go through a centralized exchange and the user can send the token directly to their wallet.
Yeah, that's interesting. I think a lot of like the L2 and the L1 migration was because like you know transaction fees got so high on Ethereum that people wanted to do some of the same activities but like with cheaper gas so people started bridging everywhere. Do you see in the next couple of years that these fees are
on ramps and off ramps are going to be like required necessary. Do you see that space growing? Oh yeah definitely actually I think I was talking with Rebecca yesterday. We're integrating with LIFI which is a deck bridge
aggregators. So they will essentially, we will integrate with them in our backend infrastructure. So when we, so users are able to swap between chains, we're able to go directly into their ecosystem without having to go through
an individual bridge. Before we were doing research for LIFE, we were contemplating should we integrate with one, two, three bridges to be on the safe side security, you know, hack proof. So, stuff like that is that we're, you know, we're
you're trying to examine and that's kind of where we ran into LIFI and what they're doing is pretty cool. They're already on most EVM chains. They're going to be expanding to Salana, Cosmos and a few other chains. So just by integrating with them, it opens up at least 12, 13,
change, 13-inch systems that we can go into. >> Oh, actually, Alberta Canyon, please give us a little bit back on your end to our developer listeners, because I don't actually think that many developers don't realize the utilization of things like a life-eye or
or axel our alias zero would have been looks for you when you build them down. I'm sorry, natively. Yeah, so when we build on on life natively allows us interoperability between all these different chains, right? So if say Dex, I know I am, is it handling?
So now this now Pangolin instead of just being on avalanche they built not only do they build on avalanche first but then they integrate with life I and it opens up their their user base to not just avalanche but all the 1230
different chains that that lifeline supports with one integration versus having to do individual integrations for each of these chains. So it makes it quicker and expands your your ecosystem as well. Thank you. I just think it's
It's super valuable that this cross-chain messaging platforms do and protocols do exist right now. And I do want more developers who are building a maybe pivoting the project or rebuilding it, utilizing them as they build, not like when they need to unlock another chain. We thank you for it for sure.
Yeah, I think that I guess kind of in like no network theory or money velocity theory like if you go and you build like Stably on a life-high That the the network of facts of being getting access really should speed up your integration in the growth of Stably in general
Yeah, that's what I, as we envision, because now it saves up a lot of time, especially developer resources, quick go-to market strategy to all these different chains. Okay, so, all right, that kind of brings up the next point.
cross-chain bridging is kind of being a little bit commoditized. How do you guys stay unique in your value proposition and your roadmap and your growth trajectory? Yeah, great question. So first,
When Stabley originally started, it was meant to be a branded stablecoin for traditional enterprises, right? So think of gift cards becoming gift coins for the--but we're too early for that right now in our opinion. And so we pivoted a little bit
into working with these ecosystems that didn't have a natively-issued stablecoin. So for the short term, yes, we are going heavy on DeFi, we're going heavy on working with these as many chains as possible. In the long term, we plan to
to work with traditional enterprises and create branded stablecoins. As we can see, Starbucks already started messing with NFT gift memberships. So eventually if we can create like say a Disney back stablecoin, DUSD, whatever that they can use on all the Disney parts, right?
on other gaming, their videos, they can create a branded stablecoin. They can save on cost for card processing fees. They can do marketing. They can have some kind of marketing campaign reduction of fees, whatever
every day on certain holidays. So to answer to kind of tie it all back, our short-term vision is creating the efficient FIA on and off ramp, I guess, widget for all of DeFi and integrating as many chains as possible in the long-term
We plan to tackle traditional enterprises and hopefully creating branded stable coins and converting their gift card program into a gift coin program That's awesome. I completely reminded and I was did this really deep dive into the Starbucks gift card and their their financial modeling or
around it. They Starbucks is as an organization as a company, sure they make money on coffee, but they're making more money on the financialization or the Starbucks gift card tokenomics and lending out of the money from that gift card program that they have than almost anything else.
Yeah, and similar with stablecoins, the collateral that is held in our case, a trust account, can be interest earned. You can put it into T-bills, earn some interest on it, and it still becomes income for the company.
Absolutely as long as you know you have some reserve ratios that you can kind of like audit and stuff that people There's no run-to-bank You can actually ask you what this partnership that you know like Starbucks it was full again like are they using what did they utilize and if you know of course like for their own no frames for like the gift cards
They're not right now. So it's really kind of NFT based right now and they're not really going full all in from what I saw.
So so a couple little you know give some free coffees at the entity like it's From what I saw yeah
I mean, you know, we're getting somewhere. Baby steps, baby steps. Yeah. But over to actually question to you, for example,
how Stably is able to support this kind of similar integrations within like retail, like normal retail, right? Well, like blockchain technology and having the solutions with gift cards.
Yeah, so one we're still we're still looking for the first big enterprise that we can do this for I guess our biggest Traditional enterprise that we have integrated with this kick co right the gold dealer It was we just need a look for the right
partners, right, custodian, technology partners that we can integrate with to add some transparency. So yeah, I mean, and we need businesses with an existing ecosystem, right? So these are all the big, you know, Amazon's Shopify
the Walmart's right and we haven't found the right fit right now for gift cards however tokenization and creating a branded stablecoin for gold with Kiko has been our biggest success with a traditional business and the technology stack in durian
They're a big legacy company. It was not too difficult. We assume it would probably be the same with other large companies. It's a lot of things, obviously, to consider when you guys are on board an extra enterprise.
Yeah, so if you know any enterprises trying to create their own on brand stablecoin, let us know. Wait, you said enterprises trying to create their own what? Branded stablecoin. Branded stablecoin. So like, I mean, there's a, what do you mean by branded specifically? So we can white label our
own stablecoin USDS to be whatever the enterprise wants it to be. Using the example of Starbucks is continue that. If they want to create their own Starbucks US dollar back stablecoin that their users can use in any other stores globally, we can white label it to them.
and we can write label usds and brand it to, or I guess it would also make sense right, usd starbucks or s usd whatever it is in any email or do you want to name it starbucks or whatever we can do that. So if I was to like answer that question in any way I would say take a look at funware so funware
actually does white white label token solutions for real companies. That that might kind of be you can look at the look at their brand kit. So go to funware and look at their brand kit. They actually just released it in July 29th, 2022. A lot of good stuff in it. I think it might give you some ideas of where you could look. This company funware
partnered with Google, Apple, Amazon, Microsoft, all the big companies. It's kind of under the radar. It's a blockchain company. I actually, I missed out huge on it, like literally in December 2021. I had a bunch of shares of it and sold it a month before it, 20x. So I fucked up there, but check it out, bro.
If you go to the brand kit, you know, they have funwear colors like they they're specific blue It might just be a company that could kind of like inspire you bro. If anything Thanks man, I appreciate it. Yeah, I'll check it out word cool Back to
So, we have two user platforms. We have Stably Prime.
is meant for institutional users that want to answer DeFi. So any business that wants to convert their FIA to crypto, they can do it through Stably Prime. They can also just DM me and I can help them walk you through the application. It's pretty straightforward.
So, you're going to have to go through the same thing.
Swap it whatever it is you can do that and businesses are able to complain on and off-ramp through Stability prime You've been to that through prime? It's a prime trust. Is that why it's called prime? Yes, and no, it's just we just called it Stability Prime from
from the past, but yes, it is through Prime Trust. Prime Trust is Arca Stodian. We do most of the things through Prime Trust. Very cool. And then in terms of security, how do I know, I guess you're leveraging
prime trust for a lot of like the custodian security services like yes yes so we leverage on prime trust for all our custodian security services and I believe they also leverage on fire blocks on top of that so we essentially have fire blocks support through through prime trust
Do you think your most of your expansion in 2023 is going to come from chains or brands or a little bit of mixture above? I think it's going to come or in the short term it's going to be all from from change.
and their ecosystem. And I don't think the brands are going to come to maybe at least five years from now, maybe sooner, but that's kind of my estimate.
Yeah, and I think there's like a lot of like risk off regulation TBD stablecoin regulation, right? Yeah. Yeah. That's what it is. I mean, we've had a lot of conversations with a lot of big brands already. So we know the interest is there. I think it's just the risk
of launching a stablecoin that they might be looked at as a fintech and you know it's just a lot more regulation that goes into play for some of these industries if they do plan to do a project like this but that's kind of where we come in and provide them that compliant infrastructure.
Very cool. Actually, because my question is more about the partnerships itself. I'll learn how do you currently right now doing BD, either if it's enterprise or change?
Yeah, so most of our business development is done through outreach, cold outreach, either LinkedIn, AlphaGrow, Telegram. I think those are my top three that I personally use a little bit of Twitter.
Sorry. I'm sorry. I got to ask this like layup question for myself. How are you using us for Alpha Growth for Business Development? So what I really like about your guys
platform is that we're able to connect with projects via telegram and that you have everything in kind of one place for Web 3, right? Like I come from traditional finance, I used to be a financial advisor, so you know LinkedIn was kind of my
my go-to. So I was pretty familiar with that. But now being in crypto and web3 for almost two years full-time now, I never found a CRM or somewhere where I can just go and talk to people that are building other than telegrams
But then you risk being bought it spammed all that. Yeah, I'll for growth. You kind of have all that you have the point of contact. We all know how we communicate either through discord or telegram. So it's a lot easier. Everything just kind of in one place where I can just
go and look at a profile and find that all just kind of there for me. Yeah, I'm going to show a little bit here. Recently funded list is my go to on my own platform. Like, yeah, check out the recently funded list. I think because we're updating that like
3 or 4 times a week. We got a large data entry team that is getting all of the things. So new chains that are recently funded and new, I think that might be a hit for you as well. >> Yeah, I did play around with that a couple of weeks ago. So I do like that.
And then yeah, you have also the investor part, right? Sometimes very hard to get in contact with an investor or firm. So I like that you guys are building that out and very similar to like the company's telegram is probably the best or telegram discord is probably the best when when we're networking with the
Totally all right enough about us, but thank you. I guess like a little little ego boost, you know. Yeah, yeah for sure, man All right, so so liquidity right so liquidity moves all of the needles and in defi and these different stable coins are when you um
How do you bootstrap liquidity that most of the liquidity come from the chains liquidity providers investors like how how do you guys? Like deal with this like I mean are you are you making polls on AMMs as well or are you trying to are you keeping things mostly like like centralized
like where does stability liquidity go? How does it use? How do you bootstrap it when you start on a new chain? I would love to understand that process. Yeah, so that's one of the biggest problems, right? Or hurdles that we always go through. But we do a little bit of everything you mentioned, right?
We have when we expand so we usually ask for a grant part of that grant is used for liquidity starting liquidity pools between USDS and you know whatever other token that we're looking at our ecosystem ran we just started a
liquidity pool, small one with fracks on curve. So we have a fracks, USDS and I think USDC or die or maybe two separate pools. I'm not sure yet. And I forgot. But you know, you can find it on there and that's actually being created.
because of our integration with LIFI and being able to support the majority of the stable coins that are going to be on curve. Once we expand, so main reason we're integrating with curve and or setting up a liquidity pool on curve.
But then we also work with chains, the foundation, see if they can help us boost tranquility for when we launch or ongoing. And then most of the time though, the chains will outsource, I guess, to market makers to help with liquidity.
Yeah, we see that a lot. There's very limited DeFi market makers. There's a couple of big name funds, but mostly it's small guys on these different liquidity providers.
So, stablecoin, I get the USDS, I get the stablecoin. What are you seeing as the biggest utility and the biggest impact of your token?
Yeah, I think it's just DeFi, right? Just trading on like I think V-chain is our biggest or actually no, Tia Network I think it has been giving us the most liquidity or the most
traction with our stablecoin. I think they have the most on activity with our stablecoin USDS. However, the most volume comes from Stellar USDC. So for us, we think that our stablecoin USDS
This is best for DeFi lending, staking on some of these platforms. And to kind of answer your question is not just our stable point, but even USD/USDT, we see entering
a lot of defy applications through our platform. I'm not sure if I mentioned but we are stablecoin I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good. I'm not good#
USDC going into DeFi through our platform. So it sounds like people are doing something in DeFi. They want to risk off or deliver. Then they wouldn't move back to like USDC or USDS, right? Yeah, yeah. That's the most following that we've
And then did you ever see any kind of like crazy like runs on the bank with your coin? Have you have you had like like like an like the ocean moment of like what's happening? Where you know people are exiting like crazy or is it there's been pretty? Pretty stable. Yeah, it's been pretty stable.
Cool. Our stable coin has been stable. Yeah, no, nothing, nothing crazy. We're fully, like I said, we're fully collateralized one to one. It's fully transparent through our dashboard with coin and co. Sometimes, you know, if there's
There's a liquidity pool where the stablecoin is not trading at par. Some arbitrage opportunities may arise. And that's kind of where we see traders step in and fill that in. So we haven't seen any run on our stablecoin.
Any mistakes you guys made and you can talk about like what lessons that you any black eyes? Oh, yeah, I mean last year we had a pretty big black eye and it was fun for for the first part of it. We were we were trying to be
a trust company in the state of Washington and just because there was some bottleneck with prime trust at the time and the cost the time was a lot and given now the whole regulations may change
Only banks may or may not happen, right? That banks will be the only issuers and burn and the minting and the redeeming of stablecoins. Then that kind of backfire on us and we have to pivot a few times last year.
And also trying to compete with some big stablecoin out there, right? USDC, USDT, when we try to compete our stablecoin with them, we're going to lose. We're a very small stablecoin compared to
them. However, we focus on small to emerging chains. And that's kind of where we found our sweet spot ever since the stablecoin wars a few years ago. At that time, we were listed on, we were the fifth stablecoin
listed on Binance at the time, but we delisted because just market making was just too expensive to maintain and kind of where we threw in the red flag to USDC, USDT and all these guys. I actually think Wall Street Wizard, do you want to say something?
Yeah, yeah, hey, hey, I'm sorry. I do. I just wanted to say I would like to thank you guys for, you know, having me up here and just sharing so many insightful and valuable ideas. I just, I really am honored because I can tell you guys know what you're talking about and you've been in this industry for, I mean, even if it was a one or two years, you've
We've done enough research to where you can use the right terminology and a lot of stuff I'm hearing I don't know about so just thank you for doing this and being able to show these ideas for everybody because I think there's just a huge future for we are in the decentralized era de apps you know all that stuff
So really cool. Thank you guys. I just got to go. I wanted to say peace out. Sure. Thank you. Thank you. I'm going to be a big your father. Yeah. Keep crushing it. I'll be I'm hosting a space on frat on Sunday. I talked to Joe about inviting you guys to that. So feel free to join. We should have like a hundred or 200 people in there.
Yeah, please, you know, DM me as well, you know, like a pro, I think I'm DM's as well and you know, we're definitely will join. We're not. Well, bless you guys. You are a wonderful day. All right. I'll catch you later. Thanks, Ben. Thanks, Liz. Okay. So you got a couple black guy. Got a couple black guys in the in the space trying to
can be on Binance with some really, really large stable coins. The growth path is some of the smaller chains helping them bring liquidity and an option for liquidity early on. It's pretty dark times. I mean, a lot of chains
of like shut down their grants programs, obviously the FTX BS, right, all that type of stuff. What would you say, do you have any like hopeful message, or what would you say to the bears right now? Like on what keeps you motivated, what keeps you going?
What keeps me motivated, I mean this space is just fun, right? Just learning all this, just having just have fun with it, just build, have fun with it. Yeah, I don't look at my portfolio every day anymore. But, you know,
Because of that, I left TRIVIA left, a really good industry, comfortable because I believe in the technology and the people building it in this field. I'm the real people, right? We always see this FTX blowing up scammers and not just big ones
small ones right is just be aware right and just continue just keep your head up during these bear markets and in the right time will come and just open yourself again also network open yourself up open the doors or DMs because you never know who you may find to be able to help you keep going
Okay, good. What are you most good segue? What are you most bullish on in 2023 and if you could meet anybody in the space who would you want to meet with and collaborate with? So what are my most bullish on I really hope
GameFight really has a good run this year and I really hope video games actually start, you know, using and NFTs, you know, just game-fi technology aspects to it because I think
there's a big market for that. And yes, it's already been kind of going, you know, booming a little bit, but I still think there's still a lot more to do there. And until they get, like, you know, until they change their perception on, until the tradition
Game, like, gaming institutions change a perception on blockchain, then we won't have, I don't think, many meaningful game fight games and actual fun games. Because now, if you think Activision, all these other guys, right, like, just consider, just,
I feel like they've been pushing back on it, but I really hope they change their mind on it. And I think that will just boost gamemiles so much more. And I guess, what was the second question? Part of it.
partner collaborate with who's like in the space, like who would be like a big win for you to connect with. Um, I would love to talk to Vitalik just because I, but um, yeah, I think um, let me see.
I think a lot of people, I mean.
Charles from Cardano, I kind of want to ask him what he's doing and how we can help grow his defi a little bit more. All right, all right, we might have a connect for you there. Let's talk after this. There could be a pathway of working together on that.
Yeah, Cardano, they have a very interesting approach on on on the community basis. And I think it's especially for, you know, I think one of the challenges or, you know, what we're figuring out is kind of like, you know, working with companies like
you guys potentially is you have you know your traditional B.D. and Biz Dev that you go to the foundation the foundation has needs and wants and you can you know sell into that what they're looking for but there's also this whole new kind of
Sorry, I just got a call. Sorry about that. How do you sell into communities and doubts, right? It's a whole new wild way to sell in public. So I find that super interesting. Crazy new opportunity within this space.
Yeah, definitely. Cool. And then in terms of like we're going to open up for questions here if there's anybody else that has any questions. I always like to ask this question on these things. What question do you wish I would have asked you?
I mean, maybe a little bit. I mean, I don't really.
I mean, we probably might touch them at all. I guess how...
question, do you race out?
All right, yeah, not sure. I have a question. I have a question. I do know when you're going to Rebecca. Yeah, what's the biggest win? Like what's the win that you celebrate in 2022 as a team?
biggest win.
Launching Stably Ramp just our new product that we were just anticipating all year has just been really great and it I think is going to be
setting us up for a great 2023. So the team, the state-lead engineering team, they did a great job on launching our products and couldn't be more proud of them.
Thank you. Yeah, we, you know, like, I can already win as a team is like super important for culture. And this is what we also, you know, like nurturing without without a company. That's why I asked the question. Joe.
Hey, thank you. Okay, so first of all awesome awesome stuff. I'm super I'm not very you know educated in terms of all the different you know nuances with stable coins, but I do want to know since you are really deep into it. I want to know your opinion on this. I you know USDC
She is a stablecoin that most people would accept, like no questions asked. But if someone like myself or maybe some of the baby boomers that believe that the US dollar is going to continue losing value through the future decades,
Where would you suggest that people keep their money if they want to choose a stablecoin? Because even, and then there's the tax gold and these other stablecoins that are backed by things with intrinsic value, then you have to, you know, there's some trust required with, is someone actually
managing the gold itself and evolved and all that stuff. So that's, I know that question wasn't super obvious but I kind of just wanted to open it up to you in terms of all of the different, you know, risk with what the stablecoin is actually peg 2.
Then that's when I buy Bitcoin. I thought you might say that yes. But the problem with Bitcoin is there's no intrinsic value to Bitcoin. So selling that to a boomer is a little bit difficult.
Yeah, I mean, I think there is really no way to hedge against that right right now. I mean, you can argue that I'll go stable coins or maybe an over collateralized crypto backed stable coin may make the most sense.
But again, we got to look at regulations that are coming most likely either in the next year or two that may or may not make it a good stable point to park your money in. So, yeah, I mean, really, there's not really
a way to fight the inflation and the evaluation of that at the moment, not at least not that I'm aware of, or not that I would feel comfortable making that, I guess, some comment to-- - What about physical land? - A physical land stablecoin.
Yeah, but then you can argue and may, I mean, that would be a tokenization, right? You would tokenize the land.
Yeah, I mean, you can create a stable coin with real estate, but then or land.
You may or may not get some kind of security pushback if there is some kind of development or anything like that. Sure, then you have the government risks and all that stuff. Yeah, I suppose if you're to, you know,
buy a sovereign nation for enough money in turn of the new adult and you could split up and all that but that's a whole different conversation. I appreciate it. Yeah, I appreciate your your opinions on that stuff, Alberto. Thank you. Yeah, of course.
Come on, Brad. I actually see a familiar face, but I think he just joined, so I don't want to put him on the spot here. But yeah, if anyone wants to chime in on his questions or voice your opinions on StableCore and on the Cultural Web 3, please request to speak and I'll make your speaker as well.
I think we can, I don't see anyone requesting, so I think we can start wrapping up. Oh, yes, yes, yes, just a second. Hello.
Hi, hey everyone. Hi, hi Hey, I'm Mikael here with a very good season familiar faces. Thanks so much for calling on me. I just jumped in so I'm not entirely sure everything that's been covered but I know stay
is definitely a hot topic right now. So for me personally, what I'm looking at is what's the competition going to play out? You know, we saw a little bit of commute between Circle and Finance and Paxos and what's that going to look like in 2020?
23 will see and then also with you know, Terri Luna Collapse in 2022, you know, what's the overall perception of algorithmic stable coins. So there's a lot of things up in the air in 2023. It's going to be interesting to see how it
all plays out, but one thing for sure is regulatory clarity is out of every aspect of crypto, I think that's the one area where I think it'll hit the hardest, the fastest, but yeah, was there just my thoughts on that?
Hey, Mikhail, thanks for joining. Yeah, I do think that there's going to be some regulatory clarity on stablecoins and we are probably going to get hit with some of that. However, stable is pretty well positioned.
We took compliance very serious since the beginning. So we work with regulated partners, prime trust as an SEC Qualified Estonian. We work with third parties like secure for KYC, KWFB.
be as by the book and most likely and working with our legal team to be well positioned for. So if these regulatory hurdles do come or when they come, we're well positioned to remain a business and continue serving the users.
And regarding stable coins, yeah, I think there's another stable coin war brewing between these again, these large stable coins, USDS or USDC, USCT, and on die, frags, all these other ones, right?
I'm not sure if I'm your I told you, make a little we're integrating with life I and now with these big decks bridge aggregators I kind of want to see how all this kind of plays a part to be able to quickly move stable points from one ecosystem to another.
This next time around. But yeah, I market perception on algorithmic stablecoins. I think it's very negative. I don't see much appetite for users for outgo stablecoins.
at the moment, especially after the Terra, Luna collapse. However, Fiat backed and over-collateralized crypto stablecoins, I feel like are probably going to be successful in the next few years.
(sniffing)
Yeah, I would say that I agree with everything that you said and I'm happy to hear that you guys are positioned to take on any kind of regulatory framework that may come into play in 2023 and I do agree that the overall sentiment
when it comes to algorithmic stablecoins is we're very far from that ever there's a lot of trust that needs to be built with everything that's transpired in 2022 and so I think in this short term it's hard to envision an
an algorithmic stablecoin having a lot of success. But I mean, you also have a lot of people that are anti-regulation. And so I think the other aspect of this that we need to consider is there's going to be a wider gap between
those entities that want to play by the rules and seek out these regulatory frameworks and they want to abide by them and those that are wanting to get even more decentralized and basically not face the music so to speak. I think we're just
going to see a wider spectrum between centralization and decentralization and regulation and those that are wanting to be more privacy focused and not necessarily abide by the regulatory standards.
Yeah, I totally agree. All right, I think it's a really good spot to wrap things up. Thank you everyone for joining and listening and speaking up. Meet Dale. Thank you so much for joining us last minute as well. You know, they're available to hear your thoughts.
as well. But yeah, Alberto, thank you so much for this AMA. Really interesting for our community about the stable points on the North Rams as well. I do believe in like just with partnerships and IBD, all of the things that we offer, you guys offer, like we can hold, we can all scale
the industry. This is a great time, of course, to make more partnerships, more introductions and stuff. This is basically how we met as well. It proves that it's working. Thank you everyone who joined us today. Please, DM feel free. Always, DMs are open, sliding
telegram DMs, we are here to talk to help the industry together if you're learning something but yeah until the next one Alberto, Brian, Joe, Miquil, thank you so much. Thank you everyone. Thank you. Thank you everyone. Thank you. Thanks guys.