Aaron McPherson

speaker

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

Uh, and what is, what is the killer use case for stable coins, as you say?

And I think what everybody instantly gets their eye on is, is interchange, you know, can it be cheaper than interchange and so be attractive to merchants?

The challenge there is that it doesn't have a lot of the value added features that you associate with cards.

Like it doesn't have a charge back mechanism.

Now merchants might actually like that.

they don't want to have to send money back the other way but for consumers you know that's a valuable attribute that they may want to have another area is the fraud guarantee you know we have this issue in faster payments more generally where if there's fraud in the system you try to get it out of there while you're doing the transaction because once you've done it it's very difficult

to get it out.

You don't have an automatic mechanism.

It has to be negotiated.

Essentially, I have to send a countervailing transaction in the other direction.

And that requires the payee to agree to do that.

So there's got to be a whole negotiation system.

It's not like cards where there's a standard procedure for doing it.

So I think stable coins are similar to faster payments in that they are a very simple type of transfer, just one person to another.

without a whole network in between.

One of the things that appeals to people is that they're decentralized.

They're not controlled by any one institution or network.

And so they're, you know, particularly in the cross-border case where you don't have well-developed transnational networks, except for SWIFT and some of the card associations,

that they can enable banks to connect with each other much more easily.

They don't have to go through these intermediaries.

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