Arnav Pagidyala

What does a Charles Schwab do in this world?

And so they might in absolute terms actually be getting better.

Like, I guess the question is, if all of this stack moves on chain, what's TradFi going to do?

It's gonna be fascinating to see this play out.

As I look at the kind of TradFi strategy, it seems like they're kind of trying it all.

Definitely seems like they would prefer chains that they have more control over.

And yet they don't just want to go all in on kind of their own TradFi type chains.

They'll play a little bit there, but then they're also actively deploying to the open, more decentralized crypto native chains.

And they're just letting it all kind of play out and see which one wins.

That seems to be the strategy, though.

If they could, I feel like the DTCC would prefer something that is just a

DTCC chain, if they could get all of the buy-in and everyone to opt in, they would certainly go down that path.

A lot of things to figure out in 2026.

Arnav, thank you so much for joining us and talking about all of this.

Of course, got to let you know, Bankless listeners, none of this has been financial advice.

Crypto is risky.

You could lose what you put in, but we are headed west.

This is the frontier.

It's not for everyone, but we're glad you're with us on the Bankless journey.

Thanks a lot.