On Ep. 87 of Tokenized, Simon Taylor, Head of Market Development @ Tempo is joined by Noah Levine, Partner @ a16z Crypto, Thierry Edde, Head of Crypto @ Deel and William Peck, Head of Digital Assets @ WisdomTree to discuss stablecoins becoming global checking accounts in emerging markets, tokenized deposits versus stablecoins use cases and more! Timestamps: 00:00 Introduction 4:21 Stablecoins becoming global checking accounts in emerging markets 6:55 Embedded finance wallets integrated into payroll platforms 9:55 Tokenized real world assets enabling embedded financial services 14:20 Difference between tokenized deposits and stablecoins 18:44 Comparison of tokenized deposits versus stablecoins use cases 27:54 Morpho raises $175M for on chain credit 32:43 Canton raises $335M for institutional privacy blockchain 39:34 Figure acquires Kiavi for AI powered real estate lending 45:47 WisdomTree and Deel executives discuss tokenized asset adoption Tokenized is sponsored by Visa A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto. Tokenized is presented by Bridge, a Stripe company. Just like the internet made information global, stablecoins are making money global. And Bridge, a Stripe company, is the infrastructure powering that shift. Built for speed, scale, and simplicity, Bridge helps businesses send, store, convert, and spend stablecoins instantly, all without borders or having to navigate the complexities of crypto. Learn more at bridge.xyz Tokenized is also presented by Fireblocks With over $100 billion in monthly stablecoin volume, Fireblocks powers stablecoin strategies at scale with infrastructure that enables PSPs, fintechs, remitters and banks to issue, move, hold, and manage stablecoins. And it’s all done securely, at scale, and with built-in compliance. Learn more at fireblocks.com *** We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research! Music by Henry McLean

Banks Won’t Stop Deposits Leaving for Stablecoins

Tokenized

# Full Transcript

**Podcast:** Tokenized

## Participants

- **Simon Taylor** (Tempo)
- **Noah Levine** (A16Z Crypto)
- **Thierry Edde** (Deel)
- **Will Peck** (WisdomTree)

## Transcript

where a lot of the money market funds, tokenized money market funds such as Wisdom Trees, others to date, early permissioned assets that require people to go through what frankly is like a painful onboarding process today, even like a more painful onboarding process than you see for like traditional securities. We very much see that changing and kind of developing an ecosystem where we can kind of build like maybe it still needs to be a permissioned assets but able to do that permissioning in a more seamless way so that people can be accessing essentially the risk-free rate, right?

Like the U.S. Treasury rates in a very seamless manner and connecting directly to stablecoins like what you're seeing with deals. So very much in money market funds is clearly like the start, right? In addition to stablecoins, that's like the next largest category for tokenized real world assets.

Welcome to Tokenized, the show focused on stablecoins and the institutional adoption of tokenized real world assets. My name is Simon Taylor. I'm your host for today, author of Fintech Brain Food and head of market dev over at Tempo. And well, joining me as a guest host today, Noah Levine, partner at Andreessen Horowitz. How the heck are you, sir? I'm doing well, thanks. Excited to be here again. Thank you for being back when Kai's out saving the world somewhere. And it's good to have you with us to make sense of the news. And also we've got some incredible guests as always.

First of all, joining us is Thierry Eder, who is the head of crypto over at Deal. Thierry, welcome to the show. So how you keeping? Thanks, Simon. Thanks for having me. Really excited to have you on. We've got some news that we'll come back to. And also making a debut is Will Peck, who's head of digital assets at Wisdom Tree. How are you doing, Will? I'm great, Simon. I'm still coming down from the Knicks game last night, but I got some sleep and feeling good. Well, you managed to sleep after that. That's some good work, sir. All right. One quick bit before we get into the content.

I need to remind viewers and listeners that views and opinions of our contributors today may be their own and might not reflect those of the companies they represent. And please don't take anything we say today as tax, legal or financial advice and always do your own research and stay safe. All right. The first story, well, this came from a bunch of outlets, but it was about Deal launching DLUSD, a custom stablecoin.

So, of course, as many of you know, Deal is the payroll platform for contractors and employees. And having launched the stablecoin, this is a company that is valued over, I think, 17.3 billion, has a billion in ARR. This is a big step for a large company. What it does is it allows contractors to hold their earnings one to on...

Banks Won’t Stop Deposits Leaving for Stablecoins

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Banks Won’t Stop Deposits Leaving for Stablecoins

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.