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<v Speaker 1>One of the most exciting things in the tokenized space

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<v Speaker 1>is access to private equity. The idea that I could

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<v Speaker 1>have assets from a company that's not public I think

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<v Speaker 1>has been traditionally held outside of retail grasp. With tokenized securities,

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<v Speaker 1>you can now offer the retail customer access to that

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<v Speaker 1>asset class that many people I think are super interested in.

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<v Speaker 1>That is going to be a real winner on the

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<v Speaker 1>retail side.

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<v Speaker 2>This episode is brought to you by bitgo, the trusted

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<v Speaker 2>infrastructure behind the digital asset economy. If you're serious about crypto,

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<v Speaker 2>whether you're an investor, institution, or building in this space,

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<v Speaker 2>you already know security, compliance, and execution are everything. And

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<v Speaker 2>that's exactly what bitgo delivers. With over a decade of

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<v Speaker 2>experience and fifty five hundred plus institutional clients across one

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<v Speaker 2>hundred plus countries, bitgo provides a suite of services including

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<v Speaker 2>qualified custody, trading, staking, financing, and stable coin infrastructure, all

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<v Speaker 2>in one platform. Let's break it down. Want to launch

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<v Speaker 2>crypto services fast? Bitgos Crypto as a service lets banks, FinTechs,

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<v Speaker 2>of months without dealing with complex licensing or infrastructure. If

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<v Speaker 2>you're looking to launch a stable coin, bidgo offers a

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<v Speaker 2>complete stable coin as a service platform, from reserves and

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<v Speaker 2>smart contracts to compliance, built to align with the new

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<v Speaker 2>US regulatory framework. That is the genius at want to

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<v Speaker 2>earn rewards on your crypto. Bitco runs one of the

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<v Speaker 2>largest institutional staking platforms, with tens of billions staked across

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<v Speaker 2>fifty plus networks. All while your assets stays securely in

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<v Speaker 2>qualified custody. Need deep liquidity and execution, Their trading platform

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<v Speaker 2>aggregates liquidity across thirty plus venues, giving you better pricing

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<v Speaker 2>and the ability to trade directly from custody, no pre

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<v Speaker 2>funding required for approved clients. And if you need capital,

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<v Speaker 2>bitgo offers crypto backed financing so you can unlock liquidity

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<v Speaker 2>without selling your assets. So here's the bottom line. Bitco

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<v Speaker 2>is one of the first federally chartered digital asset infrastructure companies,

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<v Speaker 2>offering regulated, insured custody and a platform built for institutions

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<v Speaker 2>but accessible to for thinking players across the space. So

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<v Speaker 2>whether you're scaling a fintech, managing a fund, or building

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<v Speaker 2>the future of finance, bitco gives you all the tools

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<v Speaker 2>that you need to do this securely, compliantly, and at scale.

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<v Speaker 2>So learn more at bitgo dot com and see why

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<v Speaker 2>the biggest players in crypto trust Bitgo. Hey, folks, welcome

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<v Speaker 2>into the Thinking Crypto podcast. I'm your host Tony Edward

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<v Speaker 2>and we're recording at Station three in New York's Financial District.

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<v Speaker 2>And join me today is Nancy Beaton, who is the

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<v Speaker 2>president of Uphold US. Uphold is a digital wallet and

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<v Speaker 2>trading platform that makes cryptocurrencies and other assets affordable and

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<v Speaker 2>accessible for everyone. Nancy, great to have thanks. We did

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<v Speaker 2>an interview before at Rippleswell in Miami different times back

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<v Speaker 2>in twenty twenty four, so it's great to be doing

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<v Speaker 2>another one in person with you.

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<v Speaker 1>Yeah, I'm glad to be here. This is my first

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<v Speaker 1>time at Station three. It's great.

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<v Speaker 2>Yeah. And obviously being down in Wall Street, we're seeing

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<v Speaker 2>crypto takeover Wall Street. Big news around Uphold. Yesterday there

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<v Speaker 2>was the announcement of a crypto backed credit card product.

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<v Speaker 2>Tell us about that.

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<v Speaker 1>Yeah, you know, we launched a credit card that lets

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<v Speaker 1>you take your assets. You can put them up as

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<v Speaker 1>collateral and not sell them, but you can unlock the

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<v Speaker 1>value of those assets on a card. So if I

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<v Speaker 1>want to take my BTC, my EVE, my USDC, I

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<v Speaker 1>can deposit it and that becomes instant credit on a

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<v Speaker 1>credit card that I can spend in one hundred and

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<v Speaker 1>fifty million merchants worldwide.

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<v Speaker 2>So that's pretty profound because typically there's usually a taxable

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<v Speaker 2>event in converting. How is this different?

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<v Speaker 1>Yeah, you know, so the reality is a lot of people,

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<v Speaker 1>and we're known we have a very large XRP holding community.

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<v Speaker 1>A lot of people want to invest and stack and

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<v Speaker 1>collect and hold their digital assets, right and they see

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<v Speaker 1>the promise of those digital assets, but in certain times

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<v Speaker 1>they need the value that's locked up in those digital assets.

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<v Speaker 1>And we know our users have more of their financial

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<v Speaker 1>value locked up in crypto than the average crypto user.

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<v Speaker 1>So we want to give our users away to take

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<v Speaker 1>those assets, to put them up, to deposit them and

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<v Speaker 1>use them as collateral so that they can have that

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<v Speaker 1>day to day flexibility of spending on everyday things that

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<v Speaker 1>they may need or trips or groceries or gas or

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<v Speaker 1>whatever it may be right now without having to sell

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<v Speaker 1>those precious assets.

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<v Speaker 2>So talk to us about the logistics of how that's done.

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<v Speaker 2>Is it via stable coins? How's the credit initiated off?

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<v Speaker 2>Let's say I put some big cooin in and I

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<v Speaker 2>want to spend it real the card.

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<v Speaker 1>It's super easy in the app. You take your bitcoin,

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<v Speaker 1>you take your ether, you take your USDC. You can

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<v Speaker 1>deposit as collateral. Then you can borrow against that collateral.

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<v Speaker 1>That borrowing becomes available on a credit card that you

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<v Speaker 1>activate in the app. You can put that credit card

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<v Speaker 1>in your Google and Apple pay, and then you can

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<v Speaker 1>use it as a visa signature card. At one hundred

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<v Speaker 1>and fifty million merchants.

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<v Speaker 2>That's significant because a lot of folks, you know, they rightfully,

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<v Speaker 2>so I have the pain point of capital gains tax.

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<v Speaker 2>But if I can borrow and then use the capital

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<v Speaker 2>to spend and do what I need to do, you know,

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<v Speaker 2>that's really great. So is there are there limits on

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<v Speaker 2>what I can spend or borrow.

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<v Speaker 1>So depending on how much you deposit is how much

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<v Speaker 1>you know credit you get on the credit card. But

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<v Speaker 1>you can see a real time in the app. You

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<v Speaker 1>can also pick your payment plans, so up to fix

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<v Speaker 1>eight fixed payments, so you can see in real time

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<v Speaker 1>what the interest would be on various payment plans, and

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<v Speaker 1>you can choose which one you want to use to

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<v Speaker 1>repay that and then you can continue to borrow against

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<v Speaker 1>any of the assets you've put up for collateral.

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<v Speaker 2>You mentioned bitcoin, etherorem and USDC. That's what their plans

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<v Speaker 2>to expand to other ass.

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<v Speaker 1>Definitely plans to expand that. You could imagine as us

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<v Speaker 1>in our large community that we have, we definitely want

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<v Speaker 1>to expand that to other assets that people can deposit.

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<v Speaker 2>I read that there's no annual fees, no credit checks

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<v Speaker 2>as well.

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<v Speaker 1>It's true, there's no credit checks, there's no annual fees,

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<v Speaker 1>And this is really important, right, Your crypto is your collateral.

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<v Speaker 1>Your crypto is your credit. So people you know that

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<v Speaker 1>don't have credit, maybe are heavy into crypto, that don't

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<v Speaker 1>have other financial vacuings. Maybe you haven't bought a house yet,

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<v Speaker 1>maybe you haven't amassed that credit score that everybody seemed

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<v Speaker 1>so precious. You can just use your crypto as your collateral.

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<v Speaker 1>And I think this is important too because that next

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<v Speaker 1>generation of users can have access to credit without the

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<v Speaker 1>twenty year credit score that everybody has taken a long

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<v Speaker 1>time to build up and to perfect and to check.

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<v Speaker 1>So yes, no credit score and checks and no annual fees.

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<v Speaker 2>It's such a great option because I think of myself addingdotally,

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<v Speaker 2>I have my crypto assets and I can't do much

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<v Speaker 2>with them. I can't put them to work. I can

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<v Speaker 2>use them as collateral as you mentioned. But now I

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<v Speaker 2>can would uphold, and I can if I need to,

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<v Speaker 2>I don't know, do some repairs in my house or

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<v Speaker 2>whatever it may be. I can now put that asset

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<v Speaker 2>to work versus just letting it sit there.

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<v Speaker 1>That's right. A lot of times they do sit idle, right.

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<v Speaker 1>People are looking to stack them, they're looking to build

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<v Speaker 1>their investment portfolio, so they do leave it idle. And

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<v Speaker 1>one of the things we're looking to do it uphold

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<v Speaker 1>is really help you maximize your assets. Why they sit idle.

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<v Speaker 1>Nobody needs to have their investments sitting idle, right. You

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<v Speaker 1>need to be able to borrow against them, you need

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<v Speaker 1>to be able to earn against them. You need to

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<v Speaker 1>be able to put them up and let others against

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<v Speaker 1>them and you earn a yield back. So there's a

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<v Speaker 1>lot of things that we're working to do to make

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<v Speaker 1>sure that when you have those assets, they don't sit idle,

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<v Speaker 1>that you're maximizing them as they're there in your portfolio.

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<v Speaker 2>Yeah, we're seeing from a broader perspective, Banks and others

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<v Speaker 2>are starting to noodle on this and try to see

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<v Speaker 2>if they can present or offer crypto back products and

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<v Speaker 2>using cryptos collateral.

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<v Speaker 1>That's right, and you'll see us do more and more.

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<v Speaker 1>We do believe our users want to have multi asset classes,

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<v Speaker 1>and we do believe that they want crypto to be

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<v Speaker 1>at the heart of those asset classes. But they want

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<v Speaker 1>to be able to use their crypto for other things, right,

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<v Speaker 1>whether it's for borrowing, whether it's for house repairs, whether

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<v Speaker 1>it's for credit. They want to be able to use

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<v Speaker 1>it without selling it.

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<v Speaker 2>And in regards to how it's locked in their respective

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<v Speaker 2>credit setup, what's general terms around that.

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<v Speaker 1>Yeah, So we are partnering with the Exactly protocol, so

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<v Speaker 1>it's an established protocol. So this is really people's first

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<v Speaker 1>intrigue easily into defied protocols, and so the uh, the

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<v Speaker 1>assets that are deposited go into the Exactly protocol. This

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<v Speaker 1>version of that protocol is actually a permissioned version of

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<v Speaker 1>that protocol, so we know the participants and then the

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<v Speaker 1>assets that they have when they get the credit card,

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<v Speaker 1>it's an Exa credit card, so it's an Exa Visa

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<v Speaker 1>signature credit card. Comes with all the visa perks that

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<v Speaker 1>you get with travel and lodging and rewards and benefits,

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<v Speaker 1>and then you can use it at anywhere visas accepted.

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<v Speaker 2>That's pretty incredible, and it's like one hundred and fifty

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<v Speaker 2>a million merchants worldwide.

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<v Speaker 1>Right, that's right. I mean, this is the utility of

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<v Speaker 1>crypto is being able to you know, buy an asset,

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<v Speaker 1>let it, you know, be able to be a key

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<v Speaker 1>portion of your portfolio, but then also unlocking the value

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<v Speaker 1>of that asset anywhere you spend anywhere visas accepted.

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<v Speaker 2>So a common question folks may have at times the

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<v Speaker 2>market can be volatile. All markets are volatl, Right, so

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<v Speaker 2>how do you do the loan to value type or

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<v Speaker 2>I shouldn't say loan to value, but how do you

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<v Speaker 2>do the value of the assets and the amount of

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<v Speaker 2>credit you're going to get as a result.

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<v Speaker 1>Yeah, typically you get about fifty percent loan to value credit.

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<v Speaker 1>There is a health score that the defied protocol, the

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<v Speaker 1>exactly protocol has and publishes, so in real time you

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<v Speaker 1>can see your health score. Right, you can see what

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<v Speaker 1>is in the protocol, you can see how much you've repaid,

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<v Speaker 1>you can see what percent loan to value you can

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<v Speaker 1>get so right in the app, you'll see that ongoing

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<v Speaker 1>updated health score that will let you manage how much

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<v Speaker 1>you can borrow, your repayments, your payment plan, all of

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<v Speaker 1>that's writing the app under the health score.

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<v Speaker 2>I guess I did use the right word LTV outland value.

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<v Speaker 2>I wasn't sure because I didn't want to think of

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<v Speaker 2>it as like a mortgage or something, but rather credit,

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<v Speaker 2>which is really great. I love this and this is

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<v Speaker 2>something I'm looking forward to trying, because, like I said,

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<v Speaker 2>I want to put my assets to work. They're just

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<v Speaker 2>sitting there, and if I could put some of that,

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<v Speaker 2>especially bitcoin, because I don't necessarily want to spend my bitcoin.

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<v Speaker 2>I want to keep it a long term like gold

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<v Speaker 2>or something. That's right, But if I can borrow against it, yeah,

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<v Speaker 2>I could. Certainly that would be very helpful.

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<v Speaker 1>Yes, I think so too. You know, you'll see I

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<v Speaker 1>think you'll see a lot of people take advantage of

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<v Speaker 1>this because we do have a lot of people that

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<v Speaker 1>have much of their financial holdings in crypto, and I

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<v Speaker 1>think you're going to see more and more people holding

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<v Speaker 1>crypto and they want the value of that crypto. They

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<v Speaker 1>do not want to sell the crypto and this is

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<v Speaker 1>the perfect solution for that.

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<v Speaker 2>Pardon the interruption. Hi, I'm Tony. I'm the host of

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<v Speaker 2>the Thinking Crypto podcast. I wanted to ask you if

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<v Speaker 2>you can please support the podcast by hitting the like

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<v Speaker 2>button subscribing. If you haven't as yet, you can leave

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<v Speaker 2>a comment below as well. And if you're listening on

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<v Speaker 2>a podcast platform such as Spotify, Apple or wherever you

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<v Speaker 2>get your podcasts, please be sure to follow and hit

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<v Speaker 2>the five star rating. I'll let you get back to

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<v Speaker 2>the content. Thank you so much. Now, this is certainly

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<v Speaker 2>not the first fora for Uphold regards to different credit cards.

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<v Speaker 2>I mean, you guys have had the Uphold debit card

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<v Speaker 2>which has XRP rewards and much more. So. It's really

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<v Speaker 2>great that you're building all these products.

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<v Speaker 1>Yeah, you know, we want people to come to Uphold

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<v Speaker 1>and be able to, you know, trust in the product.

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<v Speaker 2>Right.

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<v Speaker 1>We've been publishing a transparency page of all the assets

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<v Speaker 1>and liabilities we have in every thirty seconds on our website.

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<v Speaker 1>We want them to be able to have access to

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<v Speaker 1>the most tokens. We have more than three hundred tokens,

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<v Speaker 1>and we often list tokens first. We are unique in

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<v Speaker 1>that we are not a traditional exchange. We are actually

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<v Speaker 1>connected to thirty two different trading venues, so we can

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<v Speaker 1>access tokens, we can search the market for the best

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<v Speaker 1>liquidity and give our customers great pricing, and then we

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<v Speaker 1>really want them to come to us so that they

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<v Speaker 1>can maximize their assets. So it might be things like

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<v Speaker 1>the debit card you mentioned, right, I can get a

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<v Speaker 1>debit card, I can spend FIAT. I can spend my

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<v Speaker 1>crypto if I want, and I get two three, four

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<v Speaker 1>percent up to four percent XRP back when I do

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<v Speaker 1>my everyday spending. Again, making the most of the assets

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<v Speaker 1>that you have this new execredit card. Right, I can

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<v Speaker 1>deposit my BTC, my ETH, my USDC, I can unlock

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<v Speaker 1>its spending power without selling it and then use it

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<v Speaker 1>in my everyday life. So those things you're going to

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<v Speaker 1>see more and more where we can deliver to people

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<v Speaker 1>multi assets and multiple ways to maximize their assets.

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<v Speaker 2>Yeah, such a great product, and I'm curious as much

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<v Speaker 2>as you can share, you know, uphold strategy for the

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<v Speaker 2>younger generations as well, gen Z eventually gen Alpha Ray,

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<v Speaker 2>who are very digitally native, They're going to be doing

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<v Speaker 2>almost everything on their smartphones and eventually maybe their glasses. Right,

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<v Speaker 2>how are you guys thinking about the future and catering

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<v Speaker 2>for that generation a lot?

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<v Speaker 1>We're thinking about it a lot. You know, that generation

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<v Speaker 1>is going to expect that they can move money like

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<v Speaker 1>they move a snap, right, like they move a text message,

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<v Speaker 1>like they move an instant message. So we need to

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<v Speaker 1>really be thinking about how they have expectations for digital assets. Right.

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<v Speaker 1>They're not going to They're not going to wait on

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<v Speaker 1>the weekend, you know, to access money. That's not how

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<v Speaker 1>they think they're real time. They're twenty four seven. I

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<v Speaker 1>have a seventeen year old daughter and a thirteen year

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<v Speaker 1>old son, and I can see it right now. Right

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<v Speaker 1>when they ask for me for money, they are not

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<v Speaker 1>asking for cash, right, they are asking me to deposit

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<v Speaker 1>in their Apple pay. They are going to expect that

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<v Speaker 1>money moves like their text messages, like their snaps. And

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<v Speaker 1>so one of the things that we're doing is we

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<v Speaker 1>are making it easy for them to access digital assets, right,

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<v Speaker 1>be able to have more than three hundred on the platform.

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<v Speaker 1>We are making it easy for them to spend against

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<v Speaker 1>the value of those assets. So in the extra credit card,

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<v Speaker 1>no credit check, you're eighteen, you're nineteen. You do not

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<v Speaker 1>have the credit that somebody my age might have. So

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<v Speaker 1>now you can get full access to the credit that

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<v Speaker 1>your or to the value that your crypto holds, without

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<v Speaker 1>having the traditional financial you know, build up of good credit,

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<v Speaker 1>of spending, of habits, all those types of things, because

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<v Speaker 1>your crypto is your collateral and they're going to expect

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<v Speaker 1>more and more ease like this. That's going to cater

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<v Speaker 1>to the way that they spend.

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<v Speaker 2>Yeah, and I'm assuming you have your kids do some

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<v Speaker 2>beta testing for uphold.

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<v Speaker 1>All the time. In fact, you know, my son Jude,

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<v Speaker 1>he's thirteen and he asks for bitcoin for Christmas. Wow, right,

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<v Speaker 1>and so he's very interested in seeing it. He knows

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<v Speaker 1>about it. You know, maybe a little bit because I'm

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<v Speaker 1>in the space, but I think, you know, these kids

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<v Speaker 1>understand different ways of making money. None of these folks

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<v Speaker 1>in you know this gen Z gen Alpha are looking

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<v Speaker 1>to sit behind a desk for twenty five years and

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<v Speaker 1>have a four to oh one k vest so that

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<v Speaker 1>they can retire at seventy. There are creators, they're gig

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<v Speaker 1>economy workers. They have multiple hustles on the side. I mean,

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<v Speaker 1>they want to make money fast. They see it that

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<v Speaker 1>is how you know, that's how they see the world.

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<v Speaker 1>When I was growing up, we didn't have we didn't

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<v Speaker 1>have a tony thinking crypto or a YouTube, right, you know,

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<v Speaker 1>and so everybody wanted a job. And now, you know,

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<v Speaker 1>I think they move from job to job. I think

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<v Speaker 1>they find the right fit for them. I think they're streamers.

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<v Speaker 1>I think they're gig economy workers. And they're going to

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<v Speaker 1>expect that their money and payments move like that.

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<v Speaker 2>Too, absolutely, and just economically and how the world has changed.

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<v Speaker 2>It's not necessarily their fault. It's just they have to

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<v Speaker 2>adapt to how things have changed in the economy. And look,

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<v Speaker 2>it's it's so crazy out there, you know. Economically, it

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<v Speaker 2>is a whole macro conversation I have here. And to

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<v Speaker 2>your point, they need to find the different avenues to earn,

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<v Speaker 2>whether that's crypto and other things. And with the advancing

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<v Speaker 2>in crypto and stable coins, they can get paid instantly.

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<v Speaker 2>They don't have to maybe wait till the end of

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<v Speaker 2>the week for a paycheck. They can get paid the

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<v Speaker 2>day over an hour of eventually.

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<v Speaker 1>That's right. And the movement of money, yeah, right, the

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<v Speaker 1>idea that you can move money across borders, you know,

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<v Speaker 1>across countries. The flow of money is really important to them.

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<v Speaker 1>They expect it to flow like everything else does digitally

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<v Speaker 1>in their worlds. You know, they think it's interested in.

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<v Speaker 1>My kids think it's interesting that we have a local

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<v Speaker 1>bank that we go to, right, They're like, why are

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<v Speaker 1>we here? Can't you just do that on your phone?

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<v Speaker 1>And so, you know, I think they expect it all

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<v Speaker 1>to be right there, ready, at the ready and instant

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<v Speaker 1>for them.

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<v Speaker 2>So on that note, we got all of Wall Street,

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<v Speaker 2>the bank's investment firms are all recognizing that's the direction

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<v Speaker 2>to Puck's heading in. We have to tokenize. We have

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<v Speaker 2>to put fiat currencies on blockchains and create stable coins

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<v Speaker 2>and tokenize deposits. We have to put stocks, equities, gold,

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<v Speaker 2>and much more on chain. I would love to get

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<v Speaker 2>your thoughts on what's happening there and how Uphold is

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<v Speaker 2>looking at the tokenization market.

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<v Speaker 1>Yeah, so I think, you know, there's no doubt that

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<v Speaker 1>the financial industry is going to adopt blockchain. The operational

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<v Speaker 1>efficiencies alone, right warrant adopting blockchain to process money, to

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<v Speaker 1>track money, you know, to send money, it's just so

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<v Speaker 1>much more if efficient.

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<v Speaker 2>Yeah.

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<v Speaker 1>So I fully believe that you know, traditional financial financial

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<v Speaker 1>institutions are going to do that, and we're helping many

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<v Speaker 1>of them do that through our platform. You know, the

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<v Speaker 1>tokenization of assets is really exciting. We pulled our customer

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<v Speaker 1>and tokenized securities is one of the highest things they

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<v Speaker 1>are interested in. I think they want to diversify their portfolios.

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<v Speaker 1>I think they want multiple asset classes, like we've been

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<v Speaker 1>talking about before, crypto token ised securities. They trust the blockchain,

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<v Speaker 1>so anything that layers on that I think is a positive,

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<v Speaker 1>and token ised securities was one of the most requested

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<v Speaker 1>things that they told us they're interested in, and we

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<v Speaker 1>did announce that we will be bringing token ised securities

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<v Speaker 1>to market. I think really interesting in the token is

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<v Speaker 1>space for me. I mean there's there's tokenized treasuries, there's

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<v Speaker 1>you know, institutional tokenized assets things like this, there's totalanized

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<v Speaker 1>fractional securities. I think one of the most exciting things

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<v Speaker 1>in the tokenize space is access to private equity. So

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<v Speaker 1>you know, the idea that I could have assets from

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<v Speaker 1>a company that's not public I think has been traditionally

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<v Speaker 1>held outside of retail grasp and I think with tokenized securities,

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<v Speaker 1>you can now offer the retail customer access to that

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<v Speaker 1>asset class that many people I think are super interested in.

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<v Speaker 1>So I think that is going to be a real

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<v Speaker 1>winner on the retail side.

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<v Speaker 2>And part of the token economy, so to speak, is

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<v Speaker 2>being able to the theme of what we're talking about

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<v Speaker 2>putting your assets to work. Because let's say a stock

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<v Speaker 2>is tokenized, you can then put into DeFi and earn

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<v Speaker 2>off of that.

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<v Speaker 1>Yeah, that's right. You could have multi asset holdings, right,

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<v Speaker 1>you could rebalance a portfolio on multiple assets. I mean,

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<v Speaker 1>there's so many things that you could do, and I

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<v Speaker 1>think people are going to want to participate in more

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<v Speaker 1>assets as they become on the blockchain.

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<v Speaker 2>And I read that Uphold did file an application with

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<v Speaker 2>Finra in conjunction with t zero to launch the token

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<v Speaker 2>I securities.

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<v Speaker 1>We did, and so we're actively working that now and

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<v Speaker 1>we want to bring token is securities to our user base. Again,

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<v Speaker 1>it's the number one thing that they are asking for.

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<v Speaker 2>Wow, And how is Uphold as a company prepare And

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<v Speaker 2>you're already a global company, but when it comes to

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<v Speaker 2>twenty four to seven markets, how are you preparing for that?

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<v Speaker 2>Because that's a bit on steroids. You need to have

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<v Speaker 2>people who are awake and not sleeping.

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<v Speaker 1>Yeah, I mean we're already there. I mean Uphold as

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<v Speaker 1>a company when we first started. I mean, we're in crypto.

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<v Speaker 1>Crypto is twenty four to seven. Yeah, So whether you're

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<v Speaker 1>global not global, that doesn't really play into it. It's

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<v Speaker 1>really if you're in crypto, money and crypto and digital

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<v Speaker 1>assets move twenty four to seven. So we are twenty

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<v Speaker 1>four to seven. Our platforms up twenty four to seven.

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<v Speaker 1>You know, we have you know, companies and people globally

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<v Speaker 1>around the world serving different markets and then transferring that

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<v Speaker 1>those digital assets and those assets around globally. But crypto

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<v Speaker 1>is twenty four seven, blockchains twenty four seven. I mean,

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<v Speaker 1>that's why I think it has huge advantages over traditional finance.

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<v Speaker 2>Yeah, I mean, and it's amazing to see the Wall

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<v Speaker 2>Street folks like New York Stock Exchange and NASDAC are

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<v Speaker 2>awakening to this. And you know, crypto started at all

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<v Speaker 2>and now everybody's looking to go twenty four seven, three

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<v Speaker 2>sixty five, which it's it's like dawn of a new

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<v Speaker 2>era because no more opening and closing bell. There won't

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<v Speaker 2>be a need for that.

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<v Speaker 1>You know. I feel like people appreciate clarity that has

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<v Speaker 1>come in the last year or two around crypto and blockchain.

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<v Speaker 1>Could there be more? Yes? Do we hope there's more soon,

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<v Speaker 1>of course, But I do feel like we have seen

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<v Speaker 1>more and more regulatory clarity. And when you have that,

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<v Speaker 1>I think it allows traditional institutions, larger entities, corporations to

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<v Speaker 1>open up the ability to participate. And so I think

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<v Speaker 1>with that rise in regulatory clarity, I think more and

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<v Speaker 1>more and more banks, businesses, FinTechs, regulated institutions will participate

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<v Speaker 1>in blockchain. I think it will continue to grow as

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00:23:34.880 --> 00:23:36.839
<v Speaker 1>the regulatory clarity grows.

422
00:23:37.119 --> 00:23:39.920
<v Speaker 2>Yeah, and the specifically the SEC and the CFTC have

423
00:23:39.960 --> 00:23:42.960
<v Speaker 2>been doing an amazing job providing guidance, even though the

424
00:23:43.000 --> 00:23:46.640
<v Speaker 2>Clarity Act itself hasn't been passed into law. But it's

425
00:23:47.039 --> 00:23:49.680
<v Speaker 2>they are the pillars that you know, they're so crucial

426
00:23:49.680 --> 00:23:53.559
<v Speaker 2>because they are actually providing defined print details. Yes, they're

427
00:23:53.559 --> 00:23:56.559
<v Speaker 2>doing the enforcement. So it's really great that both agencies

428
00:23:56.559 --> 00:23:57.640
<v Speaker 2>have been providing guidance.

429
00:23:57.759 --> 00:24:00.759
<v Speaker 1>Yes, And and the reality is we want clarity, yeah, right,

430
00:24:01.000 --> 00:24:05.000
<v Speaker 1>We want regulatory clarity because that makes it easier for

431
00:24:05.240 --> 00:24:08.880
<v Speaker 1>us to understand the parameters in which to operate. So

432
00:24:09.519 --> 00:24:12.640
<v Speaker 1>we would we would love for all these things to

433
00:24:13.000 --> 00:24:15.599
<v Speaker 1>pass to come to fruition so that they can better

434
00:24:15.640 --> 00:24:18.799
<v Speaker 1>define how we operate in the space. And I think,

435
00:24:18.880 --> 00:24:21.279
<v Speaker 1>you know, that's when you'll start to have more and

436
00:24:21.319 --> 00:24:21.920
<v Speaker 1>more adoption.

437
00:24:23.440 --> 00:24:27.920
<v Speaker 2>Recently, Uphold announced that they're You're partnering with the Digital

438
00:24:27.920 --> 00:24:31.799
<v Speaker 2>Ascension Group and this is one of the largest crypto

439
00:24:31.880 --> 00:24:35.799
<v Speaker 2>focused iras in the US and they're managing nearly one

440
00:24:35.839 --> 00:24:38.640
<v Speaker 2>billion in assets or digital assets for clients. Uh. Tell

441
00:24:38.720 --> 00:24:40.359
<v Speaker 2>us about that partnership and what's the goal there.

442
00:24:40.519 --> 00:24:44.000
<v Speaker 1>Yeah, it's a great partnership. Super excited about it. It's

443
00:24:44.000 --> 00:24:46.880
<v Speaker 1>on our enterprise side. So a lot of people know

444
00:24:47.039 --> 00:24:50.079
<v Speaker 1>Uphold for our retail wallet. Right, we've been talking about,

445
00:24:50.160 --> 00:24:52.680
<v Speaker 1>you know, a crypto back credit card, We've been talking

446
00:24:52.720 --> 00:24:55.920
<v Speaker 1>about debit cards, you know, assets, all types of things.

447
00:24:56.480 --> 00:24:59.640
<v Speaker 1>But I think what people may not understand, understand or

448
00:24:59.640 --> 00:25:04.720
<v Speaker 1>realize is the platform that underpens that really great retail

449
00:25:04.799 --> 00:25:08.480
<v Speaker 1>wallet is a super high power platform. Right. It is

450
00:25:08.559 --> 00:25:14.680
<v Speaker 1>twenty four to seven, It is highly compliant meeting regulatory standards. Right,

451
00:25:14.839 --> 00:25:19.640
<v Speaker 1>We're licensed and registered across the globe, and we can

452
00:25:19.720 --> 00:25:25.680
<v Speaker 1>now allow these banks, FinTechs, you know, broker dealers, institutions,

453
00:25:25.720 --> 00:25:30.839
<v Speaker 1>financial companies the ability to get into the crypto digital

454
00:25:30.880 --> 00:25:35.960
<v Speaker 1>asset market very quickly within ten weeks. So somebody like

455
00:25:36.119 --> 00:25:39.480
<v Speaker 1>our partnership with the Digital Asset Group can take our

456
00:25:39.519 --> 00:25:44.039
<v Speaker 1>platform and plug it into their user front end. So

457
00:25:44.160 --> 00:25:47.839
<v Speaker 1>now if you're a user with Digital Asset Group, you

458
00:25:47.920 --> 00:25:51.960
<v Speaker 1>can now trade all that we have on the platform

459
00:25:52.640 --> 00:25:55.680
<v Speaker 1>just through our plug and play process with that partnership.

460
00:25:55.920 --> 00:25:58.240
<v Speaker 1>And so you'll see more, You'll see more banks, you'll

461
00:25:58.240 --> 00:26:01.319
<v Speaker 1>see more FinTechs, you'll see more in stations being announced

462
00:26:01.319 --> 00:26:04.359
<v Speaker 1>where they are taking our platform and plugging it into

463
00:26:04.400 --> 00:26:05.440
<v Speaker 1>their user interface.

464
00:26:05.599 --> 00:26:07.720
<v Speaker 2>So you're kind of offering a crypto as a service

465
00:26:08.440 --> 00:26:09.720
<v Speaker 2>product for these folks.

466
00:26:09.880 --> 00:26:13.079
<v Speaker 1>That's right, because we do see the mass adoption coming

467
00:26:13.440 --> 00:26:16.279
<v Speaker 1>right and you know, people to get into the crypto

468
00:26:16.400 --> 00:26:19.119
<v Speaker 1>space right to have the trading, to have the regulatory

469
00:26:19.160 --> 00:26:21.880
<v Speaker 1>to have the rules, to have the periodic checks, to

470
00:26:21.960 --> 00:26:25.000
<v Speaker 1>have the you know, money flow, to have all the rails,

471
00:26:25.720 --> 00:26:27.799
<v Speaker 1>it can take a long time and it takes a

472
00:26:27.839 --> 00:26:31.839
<v Speaker 1>lot to build. And so now they can come to uphold,

473
00:26:31.880 --> 00:26:34.000
<v Speaker 1>they can take our platform and they can plug it

474
00:26:34.039 --> 00:26:37.279
<v Speaker 1>into their interface. You know, we were talking about you

475
00:26:37.319 --> 00:26:40.839
<v Speaker 1>know the Gen Z, the Gen Alpha earlier, you know, banks,

476
00:26:41.200 --> 00:26:46.880
<v Speaker 1>financial institutions, FinTechs. People are going to start demanding access

477
00:26:47.119 --> 00:26:50.440
<v Speaker 1>to digital assets, right, and you know they are going

478
00:26:50.519 --> 00:26:54.559
<v Speaker 1>to need to serve this next generation of financial customers

479
00:26:55.039 --> 00:26:56.200
<v Speaker 1>and we can help them do that.

480
00:26:56.880 --> 00:26:59.160
<v Speaker 2>Yeah, I'm sure they're getting a lot of demand from

481
00:26:59.160 --> 00:27:00.759
<v Speaker 2>folks who want to get out access to the acid

482
00:27:00.759 --> 00:27:04.079
<v Speaker 2>class since it's grown and matured so much. And I

483
00:27:04.079 --> 00:27:06.440
<v Speaker 2>can imagine you're probably getting a lot of demand from

484
00:27:06.440 --> 00:27:08.680
<v Speaker 2>those institutions. We need to get this up and running.

485
00:27:08.799 --> 00:27:12.000
<v Speaker 1>Yeah, a lot of inbound calls, right. We have regulatory clarity,

486
00:27:12.119 --> 00:27:15.319
<v Speaker 1>we have demands coming from the next generation of financial users.

487
00:27:15.799 --> 00:27:18.599
<v Speaker 1>Those two things together create a lot of inbound calls

488
00:27:18.640 --> 00:27:20.680
<v Speaker 1>for people who want to get up and running quickly

489
00:27:20.759 --> 00:27:21.960
<v Speaker 1>in the digital asset space.

490
00:27:22.160 --> 00:27:24.680
<v Speaker 2>I got into the crypto acid class in twenty sixteen,

491
00:27:25.440 --> 00:27:28.680
<v Speaker 2>and I couldn't imagine things being at the point they're

492
00:27:28.680 --> 00:27:31.880
<v Speaker 2>at right now. It's incredible with all the adoption from

493
00:27:31.920 --> 00:27:33.240
<v Speaker 2>all these big institutions.

494
00:27:33.519 --> 00:27:35.440
<v Speaker 1>It's true. You know, I've been in this space since

495
00:27:35.480 --> 00:27:41.640
<v Speaker 1>twenty eighteen. I even in my first project, got the

496
00:27:41.880 --> 00:27:45.440
<v Speaker 1>only the third SEC no action letter to bring a

497
00:27:45.480 --> 00:27:51.839
<v Speaker 1>token to market. Imagine now what the regulatory environment is

498
00:27:52.200 --> 00:27:56.640
<v Speaker 1>so the change that I have seen on the regulatory side,

499
00:27:56.880 --> 00:28:00.400
<v Speaker 1>on the adoption side, it's just been tremendous. I think

500
00:28:00.559 --> 00:28:02.880
<v Speaker 1>more and more of that's going to foster more and

501
00:28:02.920 --> 00:28:04.000
<v Speaker 1>more growth in the space.

502
00:28:05.319 --> 00:28:09.720
<v Speaker 2>Nancy, I'm a user of upholds stable coin rewards program

503
00:28:10.200 --> 00:28:13.640
<v Speaker 2>with USCC and r O USD. However, some of the

504
00:28:13.680 --> 00:28:17.279
<v Speaker 2>banks don't like that. They're saying no, no, no, We're

505
00:28:17.319 --> 00:28:19.920
<v Speaker 2>worried about bank runs and all these things, which I

506
00:28:19.920 --> 00:28:23.160
<v Speaker 2>think is hyperbole. But what are your thoughts on that

507
00:28:23.200 --> 00:28:26.599
<v Speaker 2>situation And is it just simply the incumbents getting disrupted

508
00:28:26.640 --> 00:28:27.920
<v Speaker 2>and they're like, wait a minute, we need to slow

509
00:28:27.960 --> 00:28:29.359
<v Speaker 2>this down.

510
00:28:29.720 --> 00:28:35.319
<v Speaker 1>You know, I personally feel that rewards are an inherent

511
00:28:35.440 --> 00:28:37.880
<v Speaker 1>part of blockchain. I mean, go all you know, go

512
00:28:37.960 --> 00:28:42.319
<v Speaker 1>back to proof of steak networks staking getting rewards. I

513
00:28:42.359 --> 00:28:47.359
<v Speaker 1>think it's become part of the ecosystem. We do provide

514
00:28:47.359 --> 00:28:51.839
<v Speaker 1>rewards on stable coins. Our users want to be able

515
00:28:51.880 --> 00:28:55.480
<v Speaker 1>to earn on assets and some assets that are idle.

516
00:28:56.039 --> 00:28:59.720
<v Speaker 1>So you know, I am a market led person and

517
00:28:59.759 --> 00:29:03.640
<v Speaker 1>I here are customers and they want this. So I

518
00:29:03.680 --> 00:29:07.359
<v Speaker 1>think anybody that gets in the space, customers are going

519
00:29:07.480 --> 00:29:13.039
<v Speaker 1>to want an ability to earn rewards to me personally.

520
00:29:13.119 --> 00:29:16.799
<v Speaker 1>It's similar to when I lend my money and I

521
00:29:16.880 --> 00:29:20.359
<v Speaker 1>get interest from the bank and it's lent out somewhere else.

522
00:29:21.000 --> 00:29:24.759
<v Speaker 1>You know, it's it can be similar that we get

523
00:29:24.799 --> 00:29:29.440
<v Speaker 1>rewarded for that. Now, I do feel like, you know,

524
00:29:30.480 --> 00:29:34.680
<v Speaker 1>this space will continue to grow and evolve, and the

525
00:29:34.799 --> 00:29:40.119
<v Speaker 1>ways to earn yield rewards interest on your digital assets

526
00:29:40.799 --> 00:29:44.440
<v Speaker 1>has exponentially grown in the space, so I think people

527
00:29:44.559 --> 00:29:49.160
<v Speaker 1>are still going to want the ability to earn. On

528
00:29:49.240 --> 00:29:52.559
<v Speaker 1>the other hand, I would say too, I think there

529
00:29:52.640 --> 00:29:56.480
<v Speaker 1>are some really interesting things that are happening from the

530
00:29:56.519 --> 00:30:00.799
<v Speaker 1>traditional finance space. So we have a partnersh with vast

531
00:30:00.839 --> 00:30:07.960
<v Speaker 1>Bank and USBC and yeah, Greg, and you know, we

532
00:30:08.000 --> 00:30:12.799
<v Speaker 1>are going to bring tokenized deposits to our users. So

533
00:30:13.039 --> 00:30:16.559
<v Speaker 1>I deposit a dollar at a bank and it is

534
00:30:16.720 --> 00:30:20.599
<v Speaker 1>a digital dollar on the blockchain. So my money is

535
00:30:20.680 --> 00:30:27.279
<v Speaker 1>moving like I needed to, but it's at a financially regulated, institutional,

536
00:30:28.039 --> 00:30:31.039
<v Speaker 1>traditional bank. So I think there's going to be lots

537
00:30:31.079 --> 00:30:37.039
<v Speaker 1>of ways that people leverage blockchain to deliver value to customers.

538
00:30:37.839 --> 00:30:41.920
<v Speaker 2>Yeah, and anecdotally, I have money in the bank account,

539
00:30:41.920 --> 00:30:45.160
<v Speaker 2>I use JP Morgan, I put parks of money on

540
00:30:45.319 --> 00:30:48.519
<v Speaker 2>uphold for staking and stable corn yield. I'm not putting

541
00:30:48.559 --> 00:30:50.839
<v Speaker 2>all my money right because I still need to do

542
00:30:50.960 --> 00:30:52.799
<v Speaker 2>my everyday thing, but I want to put my money

543
00:30:52.839 --> 00:30:55.079
<v Speaker 2>to work and earn as much as I can. But

544
00:30:55.200 --> 00:30:58.559
<v Speaker 2>JP Morgan, just as an example, in this savings account

545
00:30:58.759 --> 00:31:02.000
<v Speaker 2>zero point zero one. Come on, I'm going to go

546
00:31:02.039 --> 00:31:04.559
<v Speaker 2>park in it, uphole, I'm going to go put my assets

547
00:31:04.559 --> 00:31:06.640
<v Speaker 2>to work or my cash to work. So it's kind

548
00:31:06.680 --> 00:31:08.400
<v Speaker 2>of ridiculous what the banks are doing. They should just

549
00:31:08.400 --> 00:31:12.160
<v Speaker 2>compete and up the interest or offer a stable coin.

550
00:31:12.640 --> 00:31:16.359
<v Speaker 1>So we actually have a high interest savings account. So

551
00:31:16.640 --> 00:31:22.480
<v Speaker 1>you can put in money on uphold USDC. It is

552
00:31:22.960 --> 00:31:28.079
<v Speaker 1>FDIC insured up to two point five million, right, not

553
00:31:28.319 --> 00:31:31.240
<v Speaker 1>the two hundred and fifty thousand at the traditional bank,

554
00:31:31.279 --> 00:31:34.680
<v Speaker 1>but two point five million, and we're currently paying out

555
00:31:34.720 --> 00:31:39.599
<v Speaker 1>three point seventy five percent on your USD. It is

556
00:31:39.680 --> 00:31:43.039
<v Speaker 1>also right next to where you need it. So you

557
00:31:43.160 --> 00:31:45.720
<v Speaker 1>need to take advantage of the market, and you want

558
00:31:45.759 --> 00:31:48.480
<v Speaker 1>to buy assets, you can move it in buy assets.

559
00:31:48.960 --> 00:31:52.799
<v Speaker 1>You want to liquidate your assets, you can move that

560
00:31:52.880 --> 00:31:56.319
<v Speaker 1>money into this account and make three point seventy five percent. Again,

561
00:31:56.839 --> 00:31:59.480
<v Speaker 1>much higher than many traditional.

562
00:31:59.359 --> 00:32:00.880
<v Speaker 2>Act that we have.

563
00:32:01.480 --> 00:32:03.799
<v Speaker 1>So we see a lot of people bringing in that

564
00:32:03.920 --> 00:32:07.880
<v Speaker 1>type of money to the platform because it is FDIC ensured,

565
00:32:08.039 --> 00:32:11.079
<v Speaker 1>it's easily accessible, and it's right next to where you

566
00:32:11.160 --> 00:32:13.400
<v Speaker 1>needed to be to take advantage of any movement.

567
00:32:14.000 --> 00:32:16.720
<v Speaker 2>See, this is why this here is the future. What

568
00:32:16.799 --> 00:32:19.799
<v Speaker 2>I'll pulls is the future. And I think the younger generations,

569
00:32:20.000 --> 00:32:23.079
<v Speaker 2>if the banks don't up their game, are gonna they're

570
00:32:23.079 --> 00:32:27.559
<v Speaker 2>going to move away from these traditional banks because we

571
00:32:27.680 --> 00:32:30.160
<v Speaker 2>need to. We want to look for what we want

572
00:32:30.200 --> 00:32:31.920
<v Speaker 2>to have the option to earn and get as much

573
00:32:31.920 --> 00:32:32.400
<v Speaker 2>as we can.

574
00:32:32.680 --> 00:32:35.279
<v Speaker 1>Yeah, our customers sells over and over. We want the

575
00:32:35.319 --> 00:32:38.599
<v Speaker 1>ability to earn whether it's on my idle assets, whether

576
00:32:38.640 --> 00:32:42.400
<v Speaker 1>it's on my USD, whether I want to steak. We

577
00:32:42.759 --> 00:32:46.759
<v Speaker 1>just announced flexible staking, So now if you have any

578
00:32:46.799 --> 00:32:50.440
<v Speaker 1>assets that are eligible for staking on uphold, with one button,

579
00:32:50.720 --> 00:32:53.039
<v Speaker 1>we will stake them for you and you can come

580
00:32:53.079 --> 00:32:57.359
<v Speaker 1>in and out instantly as you want, but still participate

581
00:32:57.440 --> 00:33:00.559
<v Speaker 1>in the staking rewards that come along with some of

582
00:33:00.559 --> 00:33:03.759
<v Speaker 1>those assets. So again, it's just making it easier for

583
00:33:04.079 --> 00:33:08.240
<v Speaker 1>users to come and get rewarded or to maximize all

584
00:33:08.279 --> 00:33:10.160
<v Speaker 1>the digital assets they have with us.

585
00:33:10.640 --> 00:33:13.960
<v Speaker 2>Yeah. One of the things I highlight often is when

586
00:33:14.000 --> 00:33:16.359
<v Speaker 2>we're in a bear market like we are now. Staking

587
00:33:16.440 --> 00:33:19.160
<v Speaker 2>is a great option to earn on your assets versus Look,

588
00:33:19.200 --> 00:33:21.319
<v Speaker 2>we know it's down a bit and you may have

589
00:33:21.359 --> 00:33:24.319
<v Speaker 2>a long term view in the market, but put it

590
00:33:24.359 --> 00:33:27.680
<v Speaker 2>to work and earn as we go through this downtime

591
00:33:27.720 --> 00:33:30.279
<v Speaker 2>and we'll be back in another bull cycle eventually. But

592
00:33:30.960 --> 00:33:31.920
<v Speaker 2>it's a great option.

593
00:33:32.279 --> 00:33:35.279
<v Speaker 1>I think people should understand. You know, it's not always

594
00:33:35.279 --> 00:33:38.599
<v Speaker 1>about timing the market. It's about time in the market.

595
00:33:39.079 --> 00:33:43.359
<v Speaker 1>And it's so important that you take advantage of the

596
00:33:43.480 --> 00:33:47.640
<v Speaker 1>tools that we have reoccurring buys, which is dollar cost averaging,

597
00:33:48.079 --> 00:33:52.559
<v Speaker 1>right you have debit card rewards, We have rewards right

598
00:33:52.599 --> 00:33:54.880
<v Speaker 1>now if you direct deposit part of your paycheck, you

599
00:33:54.920 --> 00:33:58.039
<v Speaker 1>get up to four percent back in XRP. You know,

600
00:33:58.200 --> 00:34:01.279
<v Speaker 1>we have staking flexible state that you can come in

601
00:34:01.319 --> 00:34:03.799
<v Speaker 1>and out of boosted staking that gives you a higher

602
00:34:03.799 --> 00:34:07.359
<v Speaker 1>reward for a little bit longer lock up. There's all

603
00:34:07.440 --> 00:34:11.639
<v Speaker 1>these ways to maximize your digital assets and over time,

604
00:34:11.920 --> 00:34:15.760
<v Speaker 1>those you know, have proven to pay off more than

605
00:34:15.800 --> 00:34:16.960
<v Speaker 1>just trying to time the market.

606
00:34:17.519 --> 00:34:21.039
<v Speaker 2>Absolutely well said, and I know we're talking about the

607
00:34:21.039 --> 00:34:23.000
<v Speaker 2>bear market, but I would love to get your thoughts

608
00:34:23.000 --> 00:34:27.599
<v Speaker 2>in the market conditions. Obviously, maybe the passable market didn't

609
00:34:27.599 --> 00:34:30.239
<v Speaker 2>go according to what people may have had in their minds.

610
00:34:30.519 --> 00:34:34.039
<v Speaker 2>But it's all cyclical. It looks like maybe we're nearing

611
00:34:34.079 --> 00:34:36.960
<v Speaker 2>a bottom at some point and following up for your

612
00:34:37.000 --> 00:34:38.920
<v Speaker 2>cycle a bitcoin. You know, do you think by the

613
00:34:39.000 --> 00:34:40.760
<v Speaker 2>end of the year we're starting to come out of it.

614
00:34:41.400 --> 00:34:43.800
<v Speaker 1>I think, you know, I think people should look at

615
00:34:43.880 --> 00:34:46.519
<v Speaker 1>two things. One, I think they should look at blockchain,

616
00:34:46.719 --> 00:34:51.639
<v Speaker 1>right the underlying technology that you know is underpenning all

617
00:34:51.719 --> 00:34:56.639
<v Speaker 1>of the crypto that you see, that is still moving forward,

618
00:34:57.199 --> 00:35:01.079
<v Speaker 1>that that's not retreating, that's not having a tough time.

619
00:35:01.280 --> 00:35:05.719
<v Speaker 1>We see more and more adoption of blockchain technology, which

620
00:35:05.840 --> 00:35:09.960
<v Speaker 1>is the real hero here. And I think you're going

621
00:35:10.000 --> 00:35:17.320
<v Speaker 1>to continue to see banks, FinTechs, entities, institutional traders, institutions

622
00:35:17.920 --> 00:35:22.000
<v Speaker 1>adopting blockchain technology. That's not going away, and that is

623
00:35:22.039 --> 00:35:26.039
<v Speaker 1>at the heart of I think what we've all started here, right,

624
00:35:26.440 --> 00:35:29.960
<v Speaker 1>So to me, that's not in any sort of market.

625
00:35:30.400 --> 00:35:34.440
<v Speaker 1>I see that progressing, and I see it progressing, you know, rapidly.

626
00:35:34.559 --> 00:35:38.559
<v Speaker 1>We just had folks with American banker. We were at

627
00:35:38.559 --> 00:35:43.039
<v Speaker 1>the conference and there was nothing but talk about moving

628
00:35:43.119 --> 00:35:48.599
<v Speaker 1>digital assets forward. So our digital blockchain capabilities forward so

629
00:35:48.920 --> 00:35:53.519
<v Speaker 1>I think people need to understand that's not slowing. I think,

630
00:35:53.599 --> 00:35:56.480
<v Speaker 1>you know, we do inter different cycles when it comes

631
00:35:56.519 --> 00:35:59.239
<v Speaker 1>to the tokens that ride along top of that blockchain,

632
00:35:59.639 --> 00:36:01.599
<v Speaker 1>and so so we are going to be in different

633
00:36:01.639 --> 00:36:03.719
<v Speaker 1>types of cycles. The one thing I would just go

634
00:36:03.840 --> 00:36:07.679
<v Speaker 1>back to is don't try to time the market. Be

635
00:36:07.960 --> 00:36:12.039
<v Speaker 1>in the market, right, That's my personal advice because the

636
00:36:12.039 --> 00:36:16.320
<v Speaker 1>more that you can use those tools to continue to

637
00:36:16.400 --> 00:36:20.719
<v Speaker 1>earn and build your investment portfolio, that's the key, right

638
00:36:20.960 --> 00:36:25.159
<v Speaker 1>that has proven over time to be a longer better

639
00:36:25.280 --> 00:36:28.639
<v Speaker 1>strategy than somebody who tries to play in and out,

640
00:36:28.679 --> 00:36:29.239
<v Speaker 1>in and out.

641
00:36:29.679 --> 00:36:33.599
<v Speaker 2>Yeah, great advice. And you know, even anecdotally in myself

642
00:36:34.159 --> 00:36:37.639
<v Speaker 2>buying some crypto acids in twenty sixteen, twenty seventeen, some

643
00:36:37.719 --> 00:36:39.760
<v Speaker 2>of it I have not sold. I just let us

644
00:36:39.800 --> 00:36:42.280
<v Speaker 2>sit there, even though it was painful going through cycles.

645
00:36:42.320 --> 00:36:45.880
<v Speaker 2>But now it's up because I just played the time game.

646
00:36:46.079 --> 00:36:49.199
<v Speaker 2>Just let it grow over time. The compound interests in.

647
00:36:49.159 --> 00:36:51.360
<v Speaker 1>This, and you can start a recurring by as little

648
00:36:51.360 --> 00:36:54.599
<v Speaker 1>as ten dollars, you know, a week. And so I

649
00:36:54.599 --> 00:37:01.159
<v Speaker 1>think as people see these tools, it will even out

650
00:37:00.199 --> 00:37:04.599
<v Speaker 1>there watching of the market, it'll even out their participation

651
00:37:05.599 --> 00:37:07.519
<v Speaker 1>and it'll be a smoother runway.

652
00:37:08.199 --> 00:37:12.880
<v Speaker 2>Is uphold leveraging AI and planning to leverage AI for

653
00:37:13.119 --> 00:37:16.039
<v Speaker 2>the users and customers on the platform. I don't know

654
00:37:16.039 --> 00:37:17.400
<v Speaker 2>how much you can share there because you know, I

655
00:37:17.400 --> 00:37:19.480
<v Speaker 2>don't want you to give away your big plans. But

656
00:37:19.679 --> 00:37:20.920
<v Speaker 2>you know, what are you guys doing there?

657
00:37:21.159 --> 00:37:24.119
<v Speaker 1>Yeah, well, I mean I think everybody's going to leverage AI, right,

658
00:37:24.639 --> 00:37:27.960
<v Speaker 1>So I think operationally we're already leveraging AI. I just

659
00:37:28.000 --> 00:37:30.719
<v Speaker 1>came from a meeting where we were talking about how

660
00:37:30.719 --> 00:37:33.920
<v Speaker 1>we're going to implement AI, and so I think, yes,

661
00:37:34.079 --> 00:37:35.920
<v Speaker 1>you will see And again I'll go back to a

662
00:37:35.920 --> 00:37:39.320
<v Speaker 1>survey we did with our users. They are interested in

663
00:37:39.519 --> 00:37:44.559
<v Speaker 1>using AI now. They're interested in various ways and flavors.

664
00:37:44.599 --> 00:37:49.599
<v Speaker 1>They're interested in AI recommendations that then they personally sort

665
00:37:49.639 --> 00:37:53.079
<v Speaker 1>through and take advantage of. I think they're also interested

666
00:37:53.199 --> 00:37:58.119
<v Speaker 1>in AI for things like maybe rebalancing a portfolio or

667
00:37:58.239 --> 00:38:01.480
<v Speaker 1>to you know, auto trade something that they set the

668
00:38:01.519 --> 00:38:05.719
<v Speaker 1>parameters around. So you know, we know our customers want it,

669
00:38:06.159 --> 00:38:09.239
<v Speaker 1>not scared of it at all, and so you'll see

670
00:38:09.280 --> 00:38:11.599
<v Speaker 1>it come out in some future projects that we have.

671
00:38:12.360 --> 00:38:14.840
<v Speaker 2>That's exciting. I know a lot of folks are looking

672
00:38:14.840 --> 00:38:17.480
<v Speaker 2>to build AI agents, and yeah, if you could put

673
00:38:17.519 --> 00:38:20.199
<v Speaker 2>an AI agent to work on rebalancing your portfolio, doing

674
00:38:20.239 --> 00:38:23.800
<v Speaker 2>different things, or just saying hey, Nancy, hey Tony, here's

675
00:38:24.079 --> 00:38:26.840
<v Speaker 2>the quick hits, what's happening with this ASCID, this asset here,

676
00:38:26.960 --> 00:38:28.440
<v Speaker 2>what I recommend and things like that.

677
00:38:28.440 --> 00:38:30.960
<v Speaker 1>That's right, And I think again it goes back to

678
00:38:31.840 --> 00:38:35.960
<v Speaker 1>being able to build or earn on your investment portfolio,

679
00:38:36.199 --> 00:38:39.360
<v Speaker 1>in your portfolio of digital assets, and being able to

680
00:38:39.400 --> 00:38:43.119
<v Speaker 1>do that super easy. So I think people want to

681
00:38:43.119 --> 00:38:46.280
<v Speaker 1>be able to again not have to time the market,

682
00:38:46.960 --> 00:38:50.840
<v Speaker 1>but participate in the market and make that easy participation.

683
00:38:52.480 --> 00:38:53.960
<v Speaker 2>This is kind of a follow up question to the

684
00:38:54.000 --> 00:38:58.840
<v Speaker 2>tokenization conversation we had earlier and uphols plans aside from

685
00:38:58.880 --> 00:39:02.559
<v Speaker 2>adding the tokenized acid is a phole leveraging blockchain in

686
00:39:02.599 --> 00:39:05.079
<v Speaker 2>the background in any way, are you planning to.

687
00:39:05.639 --> 00:39:07.880
<v Speaker 1>Yeah, I mean, I think the most obvious way that

688
00:39:07.920 --> 00:39:11.239
<v Speaker 1>you see it is, you know, letting users just coming

689
00:39:11.280 --> 00:39:13.760
<v Speaker 1>on and off the platform, right, you know, I mean

690
00:39:14.119 --> 00:39:17.559
<v Speaker 1>we know people have multiple wallets, right, average user, I

691
00:39:17.599 --> 00:39:20.360
<v Speaker 1>don't know about you, average user probably has two three wallets,

692
00:39:20.840 --> 00:39:23.800
<v Speaker 1>So you know, I think just allowing people to move

693
00:39:24.000 --> 00:39:28.480
<v Speaker 1>money like that, I think is super super important. I think,

694
00:39:28.519 --> 00:39:34.199
<v Speaker 1>you know, also we can support defy access. We can

695
00:39:34.239 --> 00:39:36.960
<v Speaker 1>support you know, we talked about the exactly protocol. You'll

696
00:39:36.960 --> 00:39:40.039
<v Speaker 1>see others like that coming in, so you'll see more

697
00:39:40.039 --> 00:39:43.320
<v Speaker 1>of that in the space and giving people easier access

698
00:39:43.440 --> 00:39:49.360
<v Speaker 1>to defy pools, to other protocols, things like that. And

699
00:39:49.400 --> 00:39:54.199
<v Speaker 1>then I think just allowing you know, institutions, companies, businesses

700
00:39:54.239 --> 00:39:57.559
<v Speaker 1>to move money either in our company or to maybe

701
00:39:58.480 --> 00:40:01.039
<v Speaker 1>employees that are in different place. You'll see us be

702
00:40:01.079 --> 00:40:02.440
<v Speaker 1>able to move money as well.

703
00:40:03.119 --> 00:40:06.119
<v Speaker 2>Yeah, it's exciting to see all the blockchain rails being

704
00:40:06.159 --> 00:40:08.679
<v Speaker 2>set up for everybody to be able to participate in

705
00:40:08.719 --> 00:40:11.000
<v Speaker 2>one way to the other. Now, we went through a lot,

706
00:40:11.159 --> 00:40:13.840
<v Speaker 2>I'll pull us doing a lot And I want to ask, though,

707
00:40:14.039 --> 00:40:16.239
<v Speaker 2>is there anything else on your roadmap that you want

708
00:40:16.239 --> 00:40:16.719
<v Speaker 2>to highlight?

709
00:40:17.280 --> 00:40:20.920
<v Speaker 1>Yeah, you know, I think there's a lot coming right.

710
00:40:20.960 --> 00:40:24.360
<v Speaker 1>We've talked about token is securities, We've talked about rewards

711
00:40:24.400 --> 00:40:27.039
<v Speaker 1>and debit card and AI and all types of different things.

712
00:40:27.480 --> 00:40:31.079
<v Speaker 1>I think things that we see people being interested in

713
00:40:31.079 --> 00:40:34.000
<v Speaker 1>in the traditional finance space, you'll see you know, we've

714
00:40:34.079 --> 00:40:37.280
<v Speaker 1>talked about the Digital Asset group with iras. You know,

715
00:40:37.320 --> 00:40:41.639
<v Speaker 1>we see people interested in you know, crypto focused iras,

716
00:40:42.119 --> 00:40:45.639
<v Speaker 1>we see people that are interested in more earning products.

717
00:40:45.840 --> 00:40:48.400
<v Speaker 1>We see people that are interested in more ways to

718
00:40:48.480 --> 00:40:51.639
<v Speaker 1>unlock the value of their crypto, and I think we

719
00:40:51.679 --> 00:40:56.920
<v Speaker 1>see a lot of interest in multi asset abilities. Ability

720
00:40:57.039 --> 00:41:01.119
<v Speaker 1>to go from gold to bitcoin, which we have today, right,

721
00:41:01.159 --> 00:41:03.960
<v Speaker 1>you can buy precious metals on Uphold today and one

722
00:41:04.000 --> 00:41:07.920
<v Speaker 1>click from bitcoin to gold. I think you'll see equities, right.

723
00:41:08.119 --> 00:41:09.960
<v Speaker 1>They want to put that in the mix as well,

724
00:41:10.280 --> 00:41:13.840
<v Speaker 1>and start having a whole portfolio, a multi asset portfolio

725
00:41:13.920 --> 00:41:15.719
<v Speaker 1>that they can manage right there, and then they can

726
00:41:15.719 --> 00:41:18.000
<v Speaker 1>earn off of or unlock the value and spend in

727
00:41:18.039 --> 00:41:18.599
<v Speaker 1>real life.

728
00:41:19.039 --> 00:41:21.400
<v Speaker 2>I love that feature by Uphold because I think you

729
00:41:21.440 --> 00:41:24.639
<v Speaker 2>guys were like the only ones that I know of

730
00:41:24.960 --> 00:41:28.440
<v Speaker 2>that it can do that, and it's so analogous to

731
00:41:28.599 --> 00:41:32.079
<v Speaker 2>the interoperable world that's being built with tokenized assets to

732
00:41:32.199 --> 00:41:34.599
<v Speaker 2>allow for that instant conversion.

733
00:41:34.280 --> 00:41:36.440
<v Speaker 1>That's right, And I think you know, eventually you can

734
00:41:36.480 --> 00:41:39.840
<v Speaker 1>imagine that you have a multi asset portfolio that can

735
00:41:39.880 --> 00:41:42.480
<v Speaker 1>be rebalanced and that you can manage. So I think

736
00:41:42.480 --> 00:41:46.400
<v Speaker 1>there'll be a lot of opportunity for people to have

737
00:41:46.559 --> 00:41:51.039
<v Speaker 1>more of their financial holdings at Uphold and then manage them,

738
00:41:51.239 --> 00:41:53.360
<v Speaker 1>earn off them, and unlock the value.

739
00:41:54.039 --> 00:41:55.920
<v Speaker 2>It may be true early to answer this question, but

740
00:41:56.119 --> 00:41:59.280
<v Speaker 2>as more assets come on chain with the tokenization efforts,

741
00:41:59.280 --> 00:42:03.960
<v Speaker 2>that's happening. So even like rare cars or rare comic

742
00:42:04.000 --> 00:42:06.760
<v Speaker 2>books like the first Superman comic book or something like that, right,

743
00:42:06.800 --> 00:42:10.159
<v Speaker 2>and things alone, those collectibles, and maybe the younger generation

744
00:42:10.280 --> 00:42:13.440
<v Speaker 2>is saying, I like this, NFT, this Pokemon thing, would

745
00:42:14.039 --> 00:42:16.599
<v Speaker 2>based on customer and demand, would uphold look to add

746
00:42:16.599 --> 00:42:17.159
<v Speaker 2>things like that.

747
00:42:17.400 --> 00:42:20.760
<v Speaker 1>Yeah, so we regularly talk to our customers. You know,

748
00:42:20.800 --> 00:42:23.320
<v Speaker 1>we just talked about going to be at XRP Vegas

749
00:42:23.320 --> 00:42:26.679
<v Speaker 1>with two thousand of my best friends and customers. We

750
00:42:26.840 --> 00:42:31.400
<v Speaker 1>regularly do research with our customers and customers outside in

751
00:42:31.440 --> 00:42:35.159
<v Speaker 1>the general crypto market. So we're super market led, so

752
00:42:35.360 --> 00:42:39.239
<v Speaker 1>we tend to do a lot of discussions what do

753
00:42:39.280 --> 00:42:41.800
<v Speaker 1>our customers want, what do they need from us? And

754
00:42:41.840 --> 00:42:44.840
<v Speaker 1>so we let that help drive you know, our roadmap,

755
00:42:44.920 --> 00:42:48.119
<v Speaker 1>our priorities, our next projects, all of those types of things.

756
00:42:49.159 --> 00:42:52.000
<v Speaker 2>Well, I'm looking forward to that. I'm a comic growing

757
00:42:52.039 --> 00:42:54.199
<v Speaker 2>up as a kid. I like the sports cards and

758
00:42:54.440 --> 00:42:57.920
<v Speaker 2>comic books, and I can't wait for like certain comic

759
00:42:57.920 --> 00:42:59.760
<v Speaker 2>books that I can't afford I can't go buy a

760
00:43:00.239 --> 00:43:03.119
<v Speaker 2>one million dollar Superman comic. But if there's a token

761
00:43:03.400 --> 00:43:05.880
<v Speaker 2>of it, a fraction of it exactly, and I think

762
00:43:06.079 --> 00:43:07.519
<v Speaker 2>that's going to be appealing to a lot of people.

763
00:43:07.559 --> 00:43:10.599
<v Speaker 2>I can have access for the first time.

764
00:43:10.920 --> 00:43:12.760
<v Speaker 1>You know what you just said it, Tony. I think

765
00:43:12.920 --> 00:43:18.880
<v Speaker 1>this is all about delivering access right, private security access,

766
00:43:19.159 --> 00:43:25.280
<v Speaker 1>tokenized security access, fractional security access, access to earning access

767
00:43:25.280 --> 00:43:28.119
<v Speaker 1>to your comic book. You know things that I believe

768
00:43:28.719 --> 00:43:33.760
<v Speaker 1>you know this this generation, you know, this group of

769
00:43:33.920 --> 00:43:37.800
<v Speaker 1>hungry digital asset users may or may not have had

770
00:43:37.960 --> 00:43:41.000
<v Speaker 1>in the past access to credit. Yeah, your crypto is

771
00:43:41.039 --> 00:43:44.280
<v Speaker 1>your credit now right. This access, I think is at

772
00:43:44.280 --> 00:43:48.719
<v Speaker 1>the heart of delivering the blockchain promise to the retail side.

773
00:43:49.239 --> 00:43:51.679
<v Speaker 1>You know, I think there's a lot of operational efficiency.

774
00:43:51.760 --> 00:43:54.760
<v Speaker 1>I think there's a lot of technical efficiency on the

775
00:43:54.920 --> 00:43:58.320
<v Speaker 1>enterprise side. Their customers are going to demand the access

776
00:43:58.360 --> 00:44:00.559
<v Speaker 1>and now they will have the infrastructure to deliver.

777
00:44:01.280 --> 00:44:04.320
<v Speaker 2>Yeah, and it's all being built right now, right right.

778
00:44:04.239 --> 00:44:06.599
<v Speaker 1>Now, it's built. I mean, now it's being adopted.

779
00:44:06.760 --> 00:44:10.400
<v Speaker 2>Yeah. Yeah, it's fascinating. I think the world is going

780
00:44:10.440 --> 00:44:11.920
<v Speaker 2>to have an eight year old So I'm thinking about

781
00:44:11.920 --> 00:44:13.840
<v Speaker 2>the world which she's going to be in when she's

782
00:44:14.159 --> 00:44:16.840
<v Speaker 2>eighteen or you know, becomes an adult. It's going to

783
00:44:16.880 --> 00:44:20.760
<v Speaker 2>be much different, so fascinating. Well, I'm looking forward to

784
00:44:21.119 --> 00:44:23.559
<v Speaker 2>the future. Updates are on Uphold and Nancy. Thank you

785
00:44:23.559 --> 00:44:25.000
<v Speaker 2>so much for taking the time, Thanks.

786
00:44:24.840 --> 00:44:26.360
<v Speaker 1>For having me. This is great. It's great to see

787
00:44:26.400 --> 00:44:26.960
<v Speaker 1>you again. Yeah.

788
00:44:26.960 --> 00:44:30.119
<v Speaker 2>Absolutely, Thank you so much for tuning in. Please hit

789
00:44:30.119 --> 00:44:32.559
<v Speaker 2>the like button subscribe if you haven't as yet. If

790
00:44:32.559 --> 00:44:35.760
<v Speaker 2>you're listening on a podcast platform such as Spotify or Apple,

791
00:44:35.960 --> 00:44:38.719
<v Speaker 2>please follow and leave a five star rating. Thank you

792
00:44:38.760 --> 00:44:39.159
<v Speaker 2>so much.