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  • tell me about how you're going to bridge this with the traditional banks.

  • When I spoke with robert and Bustani, they're all working on their side project of trying to plug into the bank balance sheets so they can pump in hundreds of billions of dollars into those stable coin yields.

  • I'm sure I'm not explaining that very well, but that was kind of their next play.

  • I'm sure you are doing something similar in the background.

  • I'm curious maybe what you're doing and is that gonna happen or does it really need a big sea change for one of those to actually say, okay, here you go.

  • So today, the very biggest difference between Celsius and pure defy is that we do full K Y C N A M L.

  • And they don't.

  • And I think you're starting to see regulators cracked down.

  • You see the sec enquiring with Eunice swap, other regulators cracking down on, on these fully decentralized platforms.

  • And I think what all of these guys are going to find out is that you cannot just operate in the wild west and then come to banks or regular and say, okay, come, let's let's cumbia, let's go have a party.

  • So Celsius since day one had one leg in in trade fine and lock one leg in CFO Central as finance.

  • And I think that is how you build that bridge, right?

  • You operate under the same rules and conditions, we have a compliance department, we do SAR reports, we do pep reports.

  • We we do everything that banks have to do.

  • So when we come and sit and talk to them, we speak the same language, right?

  • We don't, when they ask us, okay, show us that you have K.

  • Y.

  • C on all your customers.

  • We can easily demonstrate that.

  • And and and and that's really the bridge too far that defy has and I think uh we have to do very little work to bring all those assets over.

  • They have to do a lot of work uh to get regulators in bank comfortable that there actually are, can participate in our traditional financial system.

  • Okay, so you should be a step ahead of them when it comes to bridging that gap.

  • Are we gonna see banks open up balance sheets and pump in hundreds of billions into Celsius at some point?

  • Well, we have a few announcements coming, so I'm not gonna spoiled out, but but uh definitely we have several uh um you know, partnerships that we're about to announce and and have to wait.

  • You know, these are very large institutions and they take their time.

  • Uh so uh when they're ready we will announce it uh pronounce it on my Emma several times and the community really got upset with me that I was uh you know, teasing them too many times, I'm not gonna do that again.

tell me about how you're going to bridge this with the traditional banks.

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Alex Mashinsky On Building A Bridge Between DeFi vs TradFi ?

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    林宜悉 posted on 2021/10/22
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