93 - Crypto Payments and the DeFi Mullet | Visa's Cuy Sheffield and Anchorage's Diogo Mónica
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 22 November 2021
⏱️ 91 minutes
🧾️ Download transcript
Summary
The DeFi Mullet is a classic Bankless thesis that we've begun to watch play out right in front of us. This week, we bring on Cuy Sheffield from Visa and Diogo Mónica from Anchorage to explain the DeFi mullet from the Fintech side of things.
This episode explores how crypto payments are extending beyond retail and into institutions, and how Fintech platforms like Visa are leveling up with the utilities provided by Anchorage to support crypto. Blurring the lines between the two worlds is shaping up to be a fascinating corner of our industry, and there's a ton of new concepts to dive into throughout this conversation.
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Topics Covered:
0:00 Intro
6:30 Visa & The DeFi Mullet
15:03 Anchorage & The DeFi Mullet
18:55 Volatility & Engagement
25:52 Crypto Rewards
34:13 How Payments Work
41:08 Settlement Layers
46:22 What Anchorage Does
50:30 Stablecoins & Bridging
1:00:09 Teaching Visa About Crypto
1:06:10 Immutable Transactions
1:13:22 Visa CryptoPunk
1:22:09 Central Bank Digital Currencies
1:28:04 Trusting Institutions?
1:31:52 Closing & Disclaimers
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:11.9 | This is how to get started, how to get better, and how to front run the opportunity. |
| 0:16.0 | I'm Ryan Chan Adams, I'm here with David Hoffman, and we're here to help you become |
| 0:20.1 | more bankless. |
| 0:21.1 | David, all about the defymole today. |
| 0:23.9 | We had Kai Sheffield, we had Diego Monica from Visa and Anchorage respectively, and they |
| 0:30.1 | know what they're talking about with respect to FinTech and Payments. |
| 0:32.9 | They are from the companies that work with all of the companies in these fields. |
| 0:37.6 | What a fantastic discussion we had. |
| 0:39.2 | I really liked the back and forth that Kai and Diego had, their dynamic between them |
| 0:44.1 | as guests was phenomenal, and I think that actually lends itself to the dynamic between |
| 0:47.6 | their companies, right? |
| 0:48.6 | There's a lot of back and forth between Visa and Anchorage. |
| 0:51.5 | And really isn't complete without the other. |
| 0:53.8 | Visa is this gargantuan payments network, whereas Anchorage does all the custody for all |
| 0:59.3 | the things being transacted. |
| 1:01.3 | So together, they really illustrate a very complete picture of what it looks like to do payments |
| 1:06.5 | to do custody in the FinTech world, and really have a very deep understanding of the problem |
| 1:11.5 | set that exists with TragFi, Integrating Crypto, and Crypto Payments, and how to solve and |
| 1:17.1 | route around those problems and really create a new Payments paradigm that's based off |
| 1:21.0 | of these new global payment rails. |
| 1:22.7 | Yeah. |
... |
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