Ryan De Souza
@_ryandesouza
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APAC Partnerships @offchainlabs, initial builders of @arbitrum | All things RWAs, Stablecoins, Payments
Singapore
Joined May 2020
Having spent a great deal of time working with stablecoin issuers and crypto payments teams at both @OffchainLabs / @arbitrum and @StablecoinStnd , I’ve come to realise that stablecoins and payments are two sides of the same coin — neither can scale without the other. Inspired
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Here’s what’s need to be solved for the above to happen - ICYMI https://t.co/phvC6bcNRH
Been reviewing a bunch of RWA opportunities, and it’s increasingly obvious why on-chain RWAs still struggle to break into real adoption. Here are the key blockers: 1/ Lack of Speculation (yields too low for the crypto-native user) RWA yields look attractive to a traditional
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Are stablecoin consortium companies finally here? 🇺🇸 @Paxos arguably kicked off the trend with USDG, bringing in companies like @RobinhoodApp as part of its initial group of partners. @circle and @coinbase also paved the way much earlier, forming an alliance nearly a decade
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Here’s what’s need to be solved for the above to happen - ICYMI https://t.co/phvC6bcNRH
Been reviewing a bunch of RWA opportunities, and it’s increasingly obvious why on-chain RWAs still struggle to break into real adoption. Here are the key blockers: 1/ Lack of Speculation (yields too low for the crypto-native user) RWA yields look attractive to a traditional
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💭 Dreaming of the day Arbitrum is the default for these asset managers ✅ 1 out of 4 secured Here’s what I believe the future of onchain RWA should look like: i) Asset managers permissionlessly deploying their tokenized funds on Arbitrum ii) Digital transfer agent smart
> world’s largest asset manager > world’s third largest asset manager > europe’s largest asset manager > europe’s second largest asset manager all launched tokenized funds on ethereum. ethereum is taking over the world
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🏦 Fintechs raised hundreds of millions of dollars to acquire customers (aka distribution) over the last decade. You think they’re just going to hand it over to crypto bros in exchange for tokens? Crypto needs better ways to get products into the hands of end users and
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the three "d"s you should consider when picking a chain to launch on: - distribution - deep liquidity - decentralization
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Been reviewing a bunch of RWA opportunities, and it’s increasingly obvious why on-chain RWAs still struggle to break into real adoption. Here are the key blockers: 1/ Lack of Speculation (yields too low for the crypto-native user) RWA yields look attractive to a traditional
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Circle launched a foundation, just not the kind that issues tokens Or could it be?
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Crypto has a discoverability problem - not just for projects, but for price, demand, and PMF. Fixing these four failures is the real unlock for the next cycle. 1. Project Discovery Most projects don’t get discovered organically. Teams pay for KOL pushes, TG groups, or
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There market is cratering, and nobody knows why. The biggest risk I see for early stage tokens is the reflexivity of their business models. The premature use of revenue to fuel buybacks isn’t saving anyone in a macro liquidity crunch (or whatever is going on). It’s why the
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🔊 The problem with crypto - both application and infrastructure layers - is that there is hardly any monopoly. Peter Thiel’s definition of monopoly in Zero to One: • So good at what it does that no other company competes with it • Creates something truly unique • Has
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“Amazon didn’t show net income for 22 years” is a great story - but it’s not true. Amazon was profitable in 1998, one year after IPO, and profitable in 22 of the last 28 years. And for what it’s worth, Amazon does have a block explorer - it’s called the SEC filings database,
In Defense of Exponentials I used to tell founders, the reaction you are going to get to your launch is not hate, it’s indifference. By default, nobody cares about your new chain. I have to stop telling them that now. Monad just launched this week, and I’ve never seen so much
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All eyes on the other BNPL providers after Klarna’s announcement this week. Can already imagine execs asking: “Why stablecoin?” Global 🌍 ➡️ Afterpay, Affirm Southeast Asia 🇸🇬🇮🇩🇵🇭🇲🇾 ➡️ Atome, Shopback, Grab PayLater, hoolah South Korea 🇰🇷 ➡️ Toss, Kakao, Naver China 🇨🇳
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Being bearish on non-USD stablecoins today is similar to looking at BTC dominance in 2016–2018 and concluding that everything else in crypto will fail. The current USD-stablecoin dominance is driven by: i) Time horizon: USD stables had a massive head start. Tether (2014) and
nobody wants non-USD stablecoins Five years, dozens of new issuers, every major currency tried, and none have made any progress in dethroning the dollar.
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🥜 @joinpeanut's QR spend feature in Argentina is still looking strong 💪 Over $300K already spent on real world payments on @arbitrum Hockey stick growth
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Check it out here:
bfcm.stripe.com
Visit Stripe City to see Black Friday/Cyber Monday recap data and insights.
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Stripe's TPS during Black Friday to Cyber Monday in 2024: 68,900 Peak TPS: 137k Benchmark for fully onchain payments
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TLDR: Naver is: - converting an entire city’s payment system into a stablecoin - integrating multi-fiat onboarding - merging with the country’s largest crypto exchange preparing for nationwide stablecoin regulation - turning Naver Pay into a programmable payments network -
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🔴 Is Naver looking to rebuild Korean local payments infrastructure through their stablecoin offering? What the wallet does (today): i) multi-fiat → KRW regional currency conversion ii) delivered through a stablecoin version of Dongbaek-jeon (instead of prepaid point)
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Breaking down the economics of BNPL and why a stablecoin makes sense for @Klarna Klarna pays merchants upfront (usually in fiat), taking on: i) Credit risk (customer may not repay) ii) Operational/collection risk They earn money through: i) Merchant discount fees (merchant
Introducing KlarnaUSD, our first @Stablecoin. We’re the first bank to launch on @tempo, the payments blockchain by @stripe and @paradigm. With stablecoin transactions already at $27T a year, we’re bringing faster, cheaper cross-border payments to our 114M customers. Crypto is
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