The future of stablecoins according to Bridge's Co-Founder Zach Abrams
Rex Salisbury
Solo-GP @ Cambrian (pre-seed & seed fintech), ex A16Z (Partner - Fintech)
?? Hi all! Happy MLK Day.?
Last week I had the chance to walk 2 blocks and interview Zach Abrams , the co-founder of Bridge . Last year, Stripe acquired his company for $1B, their largest ever acquisition. In case you aren’t familiar, Bridge is a stablecoin infrastructure company, so this is also the largest acquisition in the history of crypto.
Large early, acquisitions often can point to where tech is headed.??
-Facebook acquired Instagram for $1B in 2012
-Google acquired YouTube for $1.6B in 2006
Listen to the full interview on my YouTube channel here.?
3 links
1?? Fintech as a business model for Agentic AI
2?? eToro IPO
3?? The need for in app calls with banks
CFO Pro+Analytics | Top Fractional CFO Services | Growth Strategy | Modeling, Analytics, Transformation | 12 M&A & Exit Deals | $500M+ Capital Raised | 10 Yrs CFO | 15 Yrs VC & PE | Wharton MBA | New York & Remote
1 个月Rex Salisbury, fascinating insights from Bridge's acquisition - a pivotal moment for crypto's mainstream adoption.
Retropreneur | Startup Founder | AI Applications Developer | Chief Product Officer | Author of "The Two But Rule" (Wiley)
1 个月Stablecoins: technobabble. Here’s what’s happening. Say you want to pay someone in another country. You buy some USDC stablecoins — in the US, say you do this with Coinbase — and then you transfer them to the recipient’s wallet. Magic? No…what they don’t mention is that behind the scenes Circle has set up banking and licensing to do what banks already do: take your money transfer message (essentially the stablecoin transaction) and convert it upon request into the actual money backing those coins, so you can spend money in country. This is easy enough when there is essentially a single player covering the backing. It’s tantamount to Citi letting you transfer funds to someone else who also has a Citi account. Same old job. New buzzwords trying to generate a degree of regulatory arbitrage to get a leg up on legacy players. I ask: could we not improve systems to do the same with fewer fees and steps than traditional remittances without resorting to the shady and problematic externalities of crypto and the fundamentally flawed and scaling challenged digital nudist colony of blockchain?