Aaron McPherson

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158 appearances 1 recordings 1 series first heard Oct 2025 last heard 9 Oct

Aaron McPherson’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Oct 2025 with 1.

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Off the Rails from the U.S. Faster Payments Council - FPC · 9 Oct 2025 Aaron McPherson of AFM on Stablecoins, Agentic AI, and Making Music · 9 Oct 2025 podcast

How do you get rid of it once you have it?

You know, because ultimately you may want to convert it back into fiat currency.

And so what we've determined is that there's really two separate flows that occur.

One in which you're actually buying a stable coin using your, using your cash.

using an ACH or a faster payment or whatever.

And then you're using that to buy things.

And then at the other end, the receiver is burning it.

They're converting it back into fiat currency so they can spend it outside the system.

The second flow is an internal flow, which is very much like what you have in cross-border payments today, where you essentially have a reserve of stable coins, which is sort of like having a reserve of U.S.

treasuries because that's what they're backed by.

and you just exchange those back and forth, but you don't redeem them unless you actually need to rebalance.

So the way cross-border payments works today is you have reserves on each side of the transaction and you operate on a net basis.

So you do transactions back and forth and only when you get sufficiently out of balance do you bring new money into the system or exit money from the system.

Yeah, well, there's a lot of excitement within the committee just on the subject of domestic payments.

And

You know, we started off with cross border because one of the maxims I have about any new payment method is has to not just be better, but it has to be so much better than what you've got today that overcomes the network effects.

The fact that everybody already accepts whatever alternative you may have, whether it be cards or correspondent banking or wires or what have you.

And so in the domestic case, you know, particularly in the United States, we have very well established payment systems.

We have very well established cards, ACH.

Uh, and you know, you have to overcome that.

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