Manny

some people are like using banking via like whatsapp or via like texting and like other things and so like this means like building like localized to each economy and so that's where that's why we're very very intentional so brazilian we want to like integrate like their system called like pics making sure that all fits with all their product whatever that is in for singapore europe we know that they're heavily dominated in revolut and we're not shying around an integration with revolut and like

So that's where I think that's going to be the interesting challenge.

And we're really keen to solve that problem.

And I think we're going to do a good job because we've already seen that we've taken the step of like crypto wallet is out of the product.

And then that's kind of the goal.

The other thing is like, and we've, we're solving it via our technology stack.

Which is, we can't not talk about this topic because it's kind of the truth, which is most of the DeFi liquidity lives in deep USD dollar denominations, right?

And so that is still a problem to solve and Blend is solving it in two parts.

One part is we've created a system and since we do everything in your own personal Gnosis Safe, we can call them as like, you know, singly managed accounts.

We can put these like 5% notional hedges on.

So even though that the DeFi market is in USD, DeFi, we can make like a notional hedge that will act

like your home currency.

So that's one short-term way we're solving it.

And we've designed a system around that and I'll go live.

So that means like currencies that don't have local stable, like stable currencies that don't have depth right now.

So let's say some of the African currencies, some of even the LATAM currencies, right?

the inr is still building up like liquidity depth right and so we can do that and so the second part is actually helping these local stable coins and onboarding them and that's why we put the fx feature so people can swap into those and have and as that liquidity depth builds in they get depth too which is why then we can start building with our like what we call our chain partners or like we're working with coinbase and we're doing 27 local staple coins with coinbase

We're working with our partners in Polygon and they're building in like great local stable coins.

And that's the goal.

When you start bringing in like lots and lots of users, you can have liquidity flow into these local stable coins.