Chris Harmse
speaker
201 appearances
1 recordings
1 series
first heard Jun 2025
last heard Jun 2025
Chris Harmse’s voice in public audio — every appearance, attributed to the second.
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Appearances
Most of those haven't ended well, but they are in the market today and they rely on multiple different kind of computation methods to kind of maintain their pegs as well.
But I would say kind of at BVNK, we work with specifically fiat-backed stablecoins because they offer the reliability you would need and the regulation you would need for payments.
Ultimately, we're a stablecoin payments infrastructure business.
and therefore need to be using the right stablecoins underneath the hood to really power payments.
Just for some numbers, stablecoin market cap today is about approaching $250 billion.
They are the, I think, eighth or ninth largest holder as an industry of US treasuries compared to more than Germany as a country.
So you can see the level of scale that they have gotten to.
Over the last couple of years, stablecoins have really grown into their own to take on a couple of different forms of financial primitives, whether that be payments, issuing of dollar bank accounts globally around the world.
We're seeing more and more use cases pop up on the daily given the current market trajectory.
Yeah, I mean, you know, if you think about my background was actually FX trading at banks.
And so I was acutely aware of how trading technology had moved forward.
But the settlement infrastructure, you know, hadn't moved forward at the same pace of underlying technologies.
And I really think, you know, today we've got a new way to a new infrastructure upgrade to payments and for cross-border payments more specifically.
When you look at them today and break it down, they already face three major problems.
The first one is they're typically quite slow, especially if you're sending into emerging markets.
Two to five days is not uncommon.
They're expensive.
Everyone's seen kind of a Western Union fee or all the fees that go into all of this kind of funding this correspondent banking network and that sort of thing.
So the fees are relatively high.
And then I think crucially, they're quite opaque.
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