WEBVTT

1
00:00:04.480 --> 00:00:07.559
<v Speaker 1>Hey, folks, we're recording at Chainling's smart Con event. And

2
00:00:07.799 --> 00:00:10.960
<v Speaker 1>joining me today is Nathan Allman, who's the founder and

3
00:00:11.119 --> 00:00:14.679
<v Speaker 1>CEO at Ondo Finance. Nathan, great to have you. Yeah,

4
00:00:14.720 --> 00:00:17.440
<v Speaker 1>thanks for having me, Nathan. Ondo's been in the news

5
00:00:17.440 --> 00:00:19.760
<v Speaker 1>a lot. I've been following Ondo closely, getting a lot

6
00:00:19.760 --> 00:00:22.760
<v Speaker 1>of adoption, and I would love to hear about the

7
00:00:22.839 --> 00:00:26.519
<v Speaker 1>founder's story, so to speak. What led to you creating Ondo?

8
00:00:27.239 --> 00:00:27.519
<v Speaker 2>Sure?

9
00:00:27.719 --> 00:00:32.240
<v Speaker 3>So, I founded Onto about five years ago. I previously

10
00:00:32.280 --> 00:00:35.399
<v Speaker 3>worked in traditional finance, So originally I was in private credit,

11
00:00:36.280 --> 00:00:38.399
<v Speaker 3>and then I was at Goldman on the digital assets

12
00:00:38.439 --> 00:00:42.280
<v Speaker 3>team immediately prior to founding Ondo. When I was there,

13
00:00:42.320 --> 00:00:46.679
<v Speaker 3>we looked at a whole bunch of blockchain based platforms

14
00:00:46.679 --> 00:00:50.880
<v Speaker 3>that tried to you know, drive post trade efficiencies to

15
00:00:51.000 --> 00:00:54.479
<v Speaker 3>different asset classes. And you know, that provided me an

16
00:00:54.520 --> 00:00:58.320
<v Speaker 3>opportunity to go pretty deep into the weeds of understanding

17
00:00:58.840 --> 00:01:00.759
<v Speaker 3>why things are the way they are are in trad FI.

18
00:01:00.880 --> 00:01:05.680
<v Speaker 3>And you know, very much became apparent to me that

19
00:01:05.680 --> 00:01:08.439
<v Speaker 3>that there's been a path dependent evolution that has resulted

20
00:01:08.480 --> 00:01:11.560
<v Speaker 3>in a bit of a Frankenstein, uh. That is the

21
00:01:11.840 --> 00:01:14.719
<v Speaker 3>you know, current global clearing and settlement system for you know,

22
00:01:14.719 --> 00:01:17.840
<v Speaker 3>all sorts of different assets, and you know, I think

23
00:01:18.799 --> 00:01:21.760
<v Speaker 3>you know, in parallel, I was very active in DeFi

24
00:01:21.799 --> 00:01:25.120
<v Speaker 3>in twenty twenty, twenty twenty one and saw that DeFi

25
00:01:25.239 --> 00:01:30.640
<v Speaker 3>presented a you know, radically better infrastructure for you know,

26
00:01:30.719 --> 00:01:36.040
<v Speaker 3>certain financial services you know that interoperate really naturally with

27
00:01:36.239 --> 00:01:36.760
<v Speaker 3>one another.

28
00:01:36.920 --> 00:01:38.760
<v Speaker 2>You know, we talk about this idea of like money.

29
00:01:38.519 --> 00:01:42.840
<v Speaker 3>Legos and composability, and you know, DeFi is twenty four

30
00:01:42.840 --> 00:01:47.680
<v Speaker 3>to seven and transparent and always on. But you know,

31
00:01:47.760 --> 00:01:52.319
<v Speaker 3>at the time DeFi was being applied purely to largely

32
00:01:52.359 --> 00:01:55.599
<v Speaker 3>like DeFi infrastructure, tokens and other cryptonative assets, right, it

33
00:01:55.640 --> 00:01:59.079
<v Speaker 3>was very you know, very self reflexive, and so I

34
00:01:59.120 --> 00:02:01.200
<v Speaker 3>became very excited about the idea of, like, how do

35
00:02:01.239 --> 00:02:04.280
<v Speaker 3>we repurpose you know, what we have in DeFi and

36
00:02:04.319 --> 00:02:08.120
<v Speaker 3>start to apply it to you know, to actually drive

37
00:02:08.639 --> 00:02:12.919
<v Speaker 3>greater accessibility and transparency and you know, the real financial system,

38
00:02:13.520 --> 00:02:16.080
<v Speaker 3>you know, merging DeFi and trad FI if you will, sure,

39
00:02:16.199 --> 00:02:19.000
<v Speaker 3>And so you know, I left five years ago to

40
00:02:19.000 --> 00:02:21.599
<v Speaker 3>to do that. You know, our mission at ONDO is

41
00:02:21.639 --> 00:02:26.639
<v Speaker 3>to expand accessibility for financial products and services. You know,

42
00:02:26.680 --> 00:02:29.759
<v Speaker 3>we token aze assets. I think that's a necessary part

43
00:02:29.840 --> 00:02:32.879
<v Speaker 3>of you know, making DeFi compatible attritional assets. You know,

44
00:02:32.919 --> 00:02:36.719
<v Speaker 3>run the assets on chain, but we also build DeFi

45
00:02:36.800 --> 00:02:42.599
<v Speaker 3>protocols and define infrastructure to make those security tokens you know,

46
00:02:42.680 --> 00:02:46.240
<v Speaker 3>more usable, you know, to to given greater utility, I

47
00:02:46.240 --> 00:02:47.719
<v Speaker 3>should say absolutely.

48
00:02:47.879 --> 00:02:50.919
<v Speaker 1>And some of the adoption I've seen for Onto by

49
00:02:50.960 --> 00:02:55.120
<v Speaker 1>folks by such as MasterCard, JP Morgan. So are these

50
00:02:55.120 --> 00:02:59.479
<v Speaker 1>institutions are they now past the taboo phase or to

51
00:02:59.560 --> 00:03:02.840
<v Speaker 1>stigma of you know, cryptos scam and then now looking

52
00:03:02.840 --> 00:03:04.520
<v Speaker 1>to actually build on blockchain rails.

53
00:03:04.840 --> 00:03:05.039
<v Speaker 2>Yeah?

54
00:03:05.080 --> 00:03:08.960
<v Speaker 3>Absolutely, yes, And that feels really good because that's a

55
00:03:09.039 --> 00:03:12.639
<v Speaker 3>very recent change. Sure, you know, the I would say

56
00:03:12.639 --> 00:03:15.960
<v Speaker 3>there's a big breakthrough in twenty twenty three, twenty twenty

57
00:03:15.960 --> 00:03:19.039
<v Speaker 3>four after black Rock got into the space with their

58
00:03:19.039 --> 00:03:21.919
<v Speaker 3>token is Treasuries Fund, which came shortly after ours. And

59
00:03:21.960 --> 00:03:26.039
<v Speaker 3>then that led to Franklin Templeton and Fidelity and Wisdom

60
00:03:26.039 --> 00:03:28.280
<v Speaker 3>Tree and Wellington and you know a bunch of asset

61
00:03:28.319 --> 00:03:32.879
<v Speaker 3>managers seeing the opportunity of tokenization as initially you know,

62
00:03:32.919 --> 00:03:34.879
<v Speaker 3>a new distribution pathway for their.

63
00:03:34.719 --> 00:03:35.680
<v Speaker 2>Products, right.

64
00:03:36.639 --> 00:03:40.639
<v Speaker 3>And then you know, more recently we're seeing banks and

65
00:03:40.639 --> 00:03:44.879
<v Speaker 3>broker dealers and you know, and and a lot of

66
00:03:44.879 --> 00:03:48.360
<v Speaker 3>that is post. You know, the new SEC coming in

67
00:03:48.400 --> 00:03:53.120
<v Speaker 3>and right, you know, opening the doors to particularly banks

68
00:03:53.120 --> 00:03:56.159
<v Speaker 3>doing you know, interesting work on public blockchain. So you know,

69
00:03:56.199 --> 00:04:00.280
<v Speaker 3>now we're really seeing the full spectrum of institutions active.

70
00:04:00.159 --> 00:04:03.240
<v Speaker 2>Engaging on chain, you know, in various ways.

71
00:04:04.159 --> 00:04:06.280
<v Speaker 1>So, Nathan, I think you're a great person that answered

72
00:04:06.319 --> 00:04:09.520
<v Speaker 1>this question for those who are still trying to grasp

73
00:04:09.639 --> 00:04:12.960
<v Speaker 1>what is tokenization and what are the benefits answering to

74
00:04:13.039 --> 00:04:15.800
<v Speaker 1>So what question why do we need to tokenize? Ask?

75
00:04:16.000 --> 00:04:18.920
<v Speaker 3>Yeah, I mean the answer varies quite a lot based

76
00:04:18.959 --> 00:04:21.920
<v Speaker 3>on the target audience. So you know, I'll segment into

77
00:04:22.000 --> 00:04:28.000
<v Speaker 3>two main buckets. Sure, and that's those in emerging markets

78
00:04:28.000 --> 00:04:31.199
<v Speaker 3>who might not have great access to financial products and

79
00:04:31.240 --> 00:04:36.160
<v Speaker 3>services today. So for them, tokenization is just a very

80
00:04:36.199 --> 00:04:38.680
<v Speaker 3>simple access play, so much in the way that stable

81
00:04:38.680 --> 00:04:42.560
<v Speaker 3>coins have driven access to the dollar in Latin America

82
00:04:42.560 --> 00:04:45.839
<v Speaker 3>and Turkey and Southeast Asia and so on. Sure are

83
00:04:45.879 --> 00:04:49.319
<v Speaker 3>tokenized stocks in our on a global markets platform which

84
00:04:49.399 --> 00:04:53.120
<v Speaker 3>launched just six weeks ago. You know, they're they're driving

85
00:04:53.120 --> 00:04:57.680
<v Speaker 3>accessibility to stock spawns and ETF's high quality US financial

86
00:04:57.680 --> 00:05:02.319
<v Speaker 3>assets to you know, those outside the US in emerging markets. Sure,

87
00:05:02.879 --> 00:05:07.439
<v Speaker 3>And you know that is a very cryptonative value prop.

88
00:05:07.480 --> 00:05:09.240
<v Speaker 3>I mean, that is one that's building on the fact

89
00:05:09.240 --> 00:05:12.759
<v Speaker 3>that you know, Bitcoin was this innovation that gave us

90
00:05:13.160 --> 00:05:16.600
<v Speaker 3>this ability to have digitally scarce value that could be

91
00:05:16.920 --> 00:05:19.800
<v Speaker 3>you know, transferred peer to peer, uh, you know, twenty

92
00:05:19.800 --> 00:05:21.959
<v Speaker 3>four to seven without using an intermediary.

93
00:05:22.040 --> 00:05:24.920
<v Speaker 2>So that's one that we're very very excited about, right.

94
00:05:24.920 --> 00:05:25.920
<v Speaker 2>It was very mission.

95
00:05:25.639 --> 00:05:29.120
<v Speaker 3>Aligned for us, and you know, very core to the

96
00:05:29.160 --> 00:05:30.040
<v Speaker 3>ethos of the space.

97
00:05:31.160 --> 00:05:31.360
<v Speaker 2>You know.

98
00:05:31.399 --> 00:05:37.680
<v Speaker 3>The other is around the use of token is securities

99
00:05:38.160 --> 00:05:41.560
<v Speaker 3>in DeFi. Right, So as we were talking about earlier,

100
00:05:41.959 --> 00:05:46.480
<v Speaker 3>you know, DeFi has certain advantages over traditional finance from

101
00:05:46.480 --> 00:05:47.800
<v Speaker 3>an infrastructure perspective.

102
00:05:48.160 --> 00:05:49.519
<v Speaker 2>You know, a big one is.

103
00:05:50.160 --> 00:05:56.399
<v Speaker 3>The unbundling of financial services. So today, right, you know,

104
00:05:56.959 --> 00:05:59.879
<v Speaker 3>you hold your securities at a particular broker dealer and

105
00:06:00.079 --> 00:06:03.759
<v Speaker 3>then you have to get trade, execution and lending and

106
00:06:03.959 --> 00:06:07.240
<v Speaker 3>custody you know, and advisory and all sorts of services

107
00:06:07.680 --> 00:06:10.600
<v Speaker 3>from that broker dealer. And if you want to, you know,

108
00:06:10.680 --> 00:06:14.839
<v Speaker 3>if you want to trade elsewhere, you know, or get

109
00:06:14.839 --> 00:06:17.079
<v Speaker 3>a margin loan from someone else, you to move all

110
00:06:17.120 --> 00:06:19.680
<v Speaker 3>your securities to another BD and that takes like days

111
00:06:19.759 --> 00:06:22.639
<v Speaker 3>or weeks and as a result, you know, each of

112
00:06:22.680 --> 00:06:25.800
<v Speaker 3>these beds, Each of these platforms is able to you know,

113
00:06:26.279 --> 00:06:29.040
<v Speaker 3>charge a lot of hidden fees if you will. Like

114
00:06:29.079 --> 00:06:32.879
<v Speaker 3>margin rates are like pretty crazy for retail in the US, right,

115
00:06:33.720 --> 00:06:36.680
<v Speaker 3>and there just isn't as much competition as there would

116
00:06:36.680 --> 00:06:41.920
<v Speaker 3>be in a more like open composable environment like what

117
00:06:42.000 --> 00:06:46.000
<v Speaker 3>we see in DeFi. So we're only at the early

118
00:06:46.040 --> 00:06:49.279
<v Speaker 3>innings of doing this. But once we have DeFi with

119
00:06:49.319 --> 00:06:51.360
<v Speaker 3>a bunch of token is stocks in it, right, I

120
00:06:51.360 --> 00:06:53.160
<v Speaker 3>think that's going to open.

121
00:06:52.879 --> 00:06:53.439
<v Speaker 2>The door to.

122
00:06:54.920 --> 00:06:58.360
<v Speaker 3>Like cheaper, better financial services for even folks in the US.

123
00:06:59.360 --> 00:07:01.600
<v Speaker 1>And in addition to what you mentioned with DeFi and

124
00:07:01.639 --> 00:07:07.160
<v Speaker 1>accessibility is it, also we're kind of exporting our capital markets.

125
00:07:07.199 --> 00:07:09.879
<v Speaker 1>If you the person in Latin America or in some

126
00:07:09.920 --> 00:07:13.800
<v Speaker 1>country in Africa who couldn't access these assets now can

127
00:07:13.920 --> 00:07:16.480
<v Speaker 1>But it also brings in liquidity to the issuers.

128
00:07:16.680 --> 00:07:20.839
<v Speaker 3>Oh yeah, I mean hugely a creative to issuers. I mean,

129
00:07:20.959 --> 00:07:23.720
<v Speaker 3>you know, asset managers are a subset of that, right

130
00:07:23.800 --> 00:07:26.800
<v Speaker 3>and seeing the value prop of selling their funds to

131
00:07:26.920 --> 00:07:31.519
<v Speaker 3>more folks, but corporates as well. So for now we're

132
00:07:32.120 --> 00:07:37.199
<v Speaker 3>tokenizing stocks of corporations that already trade on NASADAC and

133
00:07:37.240 --> 00:07:40.319
<v Speaker 3>New York Stock exchange. But sure, certainly tomorrow, you know,

134
00:07:40.360 --> 00:07:43.439
<v Speaker 3>we could be tokenizing stocks for companies that might not

135
00:07:44.040 --> 00:07:46.720
<v Speaker 3>actually need to or want to trade on you know,

136
00:07:46.800 --> 00:07:49.680
<v Speaker 3>those those big exchanges.

137
00:07:50.360 --> 00:07:52.680
<v Speaker 1>Right, And we also do you do you see an

138
00:07:52.680 --> 00:07:56.319
<v Speaker 1>opportunity for private equity, Like if I'm an entrepreneur and

139
00:07:56.519 --> 00:07:59.759
<v Speaker 1>I want to raise capital and I have the world,

140
00:08:00.399 --> 00:08:03.279
<v Speaker 1>I have more opportunities out outside of just the United

141
00:08:03.319 --> 00:08:07.000
<v Speaker 1>States to have participants. And it doesn't necessarily have to

142
00:08:07.040 --> 00:08:10.040
<v Speaker 1>be a fund. It could be an individual that I

143
00:08:10.279 --> 00:08:13.680
<v Speaker 1>can access some more liquidity and more people can participate.

144
00:08:14.360 --> 00:08:14.600
<v Speaker 2>Yeah.

145
00:08:14.639 --> 00:08:18.240
<v Speaker 3>Absolutely, it's not our current focus. You know, we have

146
00:08:18.279 --> 00:08:20.360
<v Speaker 3>to sequence these things, and I just don't think it's like, right,

147
00:08:20.920 --> 00:08:24.399
<v Speaker 3>quite the lowest hanging fruit. Yet there are there are

148
00:08:24.480 --> 00:08:28.240
<v Speaker 3>other challenges that tokenization can't solve that need to be

149
00:08:28.879 --> 00:08:31.800
<v Speaker 3>worked through as well, like reducing info asymmetry and like

150
00:08:32.039 --> 00:08:36.279
<v Speaker 3>you know, creating better price discovery mechanisms for a lot

151
00:08:36.279 --> 00:08:41.039
<v Speaker 3>of these assets. Sure, but those are being solved in parallel.

152
00:08:41.200 --> 00:08:46.759
<v Speaker 3>And you know, you look at certain asset managers. You

153
00:08:46.759 --> 00:08:48.639
<v Speaker 3>look at Apollo for instance, They're doing a lot of

154
00:08:48.679 --> 00:08:52.720
<v Speaker 3>work to make private assets more liquid and more retail

155
00:08:52.720 --> 00:08:56.360
<v Speaker 3>accessible through they have certain like ETFs with private credit

156
00:08:56.879 --> 00:09:01.480
<v Speaker 3>in them. So there's there's definitely a trend of private

157
00:09:01.480 --> 00:09:05.759
<v Speaker 3>assets becoming more retail accessible, and you know, tokenization is

158
00:09:06.360 --> 00:09:07.799
<v Speaker 3>an accelerant of that trend.

159
00:09:08.720 --> 00:09:11.559
<v Speaker 1>And then do you eventually see assets like real estate

160
00:09:11.679 --> 00:09:14.120
<v Speaker 1>being tokenized and precious Well, there's some precious metals being

161
00:09:14.159 --> 00:09:16.320
<v Speaker 1>tokenized right now, some folks that put gold on chain

162
00:09:16.360 --> 00:09:19.519
<v Speaker 1>and so forth, but real estate being the largest asset

163
00:09:19.519 --> 00:09:23.279
<v Speaker 1>class that going on chain. And maybe folks tokenize some

164
00:09:23.879 --> 00:09:26.799
<v Speaker 1>building here in the United in the Manhattan, I should say,

165
00:09:27.120 --> 00:09:29.080
<v Speaker 1>and that's appealing to a lot of folks because hey,

166
00:09:29.080 --> 00:09:31.799
<v Speaker 1>I can get a fraction of this property in the

167
00:09:31.840 --> 00:09:35.159
<v Speaker 1>middle of Manhattan. That's probably a good investment, right, just

168
00:09:35.200 --> 00:09:37.919
<v Speaker 1>thinking long term.

169
00:09:37.440 --> 00:09:38.919
<v Speaker 2>I don't know, it's not my space.

170
00:09:39.120 --> 00:09:41.799
<v Speaker 3>I would say that real estate falls in the camp

171
00:09:42.039 --> 00:09:47.600
<v Speaker 3>of areas where there's a lot of problems that tokenization

172
00:09:47.720 --> 00:09:50.879
<v Speaker 3>can't solve. Like it might be part of the solution,

173
00:09:51.159 --> 00:09:54.960
<v Speaker 3>but you know, the status quo of I guess there's

174
00:09:54.960 --> 00:09:56.840
<v Speaker 3>a couple of camps, right, there's the folks that are

175
00:09:56.919 --> 00:10:00.320
<v Speaker 3>trying to like, you know, put title on chain for

176
00:10:00.440 --> 00:10:04.879
<v Speaker 3>like sort of I don't know, lower value, you know,

177
00:10:04.960 --> 00:10:09.600
<v Speaker 3>single family or you know, type real estate, right, and

178
00:10:09.639 --> 00:10:12.000
<v Speaker 3>then you know they have to contend with like all

179
00:10:12.039 --> 00:10:15.879
<v Speaker 3>sorts of very antiquated you know, laws and rags and

180
00:10:15.919 --> 00:10:16.840
<v Speaker 3>processes for that.

181
00:10:16.960 --> 00:10:19.440
<v Speaker 2>So yeah, I don't know how that's going.

182
00:10:19.480 --> 00:10:21.200
<v Speaker 3>And then to your point, there's other folks that are

183
00:10:21.360 --> 00:10:23.639
<v Speaker 3>trying to take some like marquee property, like you know,

184
00:10:23.720 --> 00:10:27.200
<v Speaker 3>the the Burj Khalifah. Let's like, you know, tokenize that

185
00:10:27.240 --> 00:10:28.840
<v Speaker 3>and make it more accessible. I feel like that's a

186
00:10:28.879 --> 00:10:31.759
<v Speaker 3>little more tangible, Like sure we would know how to

187
00:10:31.799 --> 00:10:34.200
<v Speaker 3>do that for instance, like that actually would it be

188
00:10:34.279 --> 00:10:38.399
<v Speaker 3>very very hard to do, So I don't know. I

189
00:10:38.399 --> 00:10:41.360
<v Speaker 3>think that's that's more feasible. I don't know what the

190
00:10:41.399 --> 00:10:42.720
<v Speaker 3>demand is for that right now.

191
00:10:42.679 --> 00:10:44.879
<v Speaker 1>So I think your point you brought up there demand

192
00:10:44.960 --> 00:10:46.879
<v Speaker 1>is important because if you don't have a market or

193
00:10:46.919 --> 00:10:50.840
<v Speaker 1>liquidity for it, then like dead right, who's going to

194
00:10:50.879 --> 00:10:53.559
<v Speaker 1>want to get participate? But it just depends on the

195
00:10:53.639 --> 00:10:56.000
<v Speaker 1>asset or the building or whatever it is. If it

196
00:10:56.039 --> 00:10:59.039
<v Speaker 1>has mass penetration, I guess and mind share whatever you

197
00:10:59.080 --> 00:11:01.559
<v Speaker 1>call it, and people know, oh the Empire state building,

198
00:11:01.559 --> 00:11:03.000
<v Speaker 1>I know what that is. And I could be in

199
00:11:03.039 --> 00:11:05.480
<v Speaker 1>another country. Yet let me get a crew tokens of

200
00:11:05.559 --> 00:11:07.480
<v Speaker 1>the Empire state building or something like that.

201
00:11:07.519 --> 00:11:10.679
<v Speaker 3>And this is why we started by tokenizing assets that

202
00:11:10.799 --> 00:11:14.639
<v Speaker 3>already have established market prices and deep liquidity. Yeah, so

203
00:11:14.679 --> 00:11:17.000
<v Speaker 3>we don't you know, if you tokenize an asset that

204
00:11:17.120 --> 00:11:20.679
<v Speaker 3>isn't yet liquid, then you have to build both sides

205
00:11:20.720 --> 00:11:24.799
<v Speaker 3>of the marketplace at the same time. Whereas you know,

206
00:11:24.879 --> 00:11:30.360
<v Speaker 3>in our case, like even if there aren't any other

207
00:11:30.480 --> 00:11:32.840
<v Speaker 3>new sellers, like there's a lot of sellers on the

208
00:11:32.840 --> 00:11:35.440
<v Speaker 3>stock market, and we're just like making you know that

209
00:11:35.480 --> 00:11:39.039
<v Speaker 3>liquidity available on chain. So it works for a buyer

210
00:11:39.840 --> 00:11:43.399
<v Speaker 3>almost just as well, whether you know they're coming to

211
00:11:43.440 --> 00:11:47.519
<v Speaker 3>our platform the day that it launched, or you know,

212
00:11:48.159 --> 00:11:50.200
<v Speaker 3>in a more distant future where there's a.

213
00:11:50.120 --> 00:11:51.320
<v Speaker 2>Whole bunch of sellers on chain.

214
00:11:51.440 --> 00:11:54.279
<v Speaker 3>I mean, at some point we may have more actual

215
00:11:54.320 --> 00:11:58.759
<v Speaker 3>liquidity formation even for public stocks on chain, particularly as

216
00:11:58.799 --> 00:12:02.559
<v Speaker 3>we start thinking about weekend trading, where there isn't yet

217
00:12:02.600 --> 00:12:07.240
<v Speaker 3>liquidity traditionally. But we already have a lot of liquidity,

218
00:12:07.320 --> 00:12:11.519
<v Speaker 3>so the product works quite well even without new price discovery.

219
00:12:13.320 --> 00:12:15.080
<v Speaker 1>What's on your roadmap that you can highlight.

220
00:12:18.120 --> 00:12:21.559
<v Speaker 3>We think that it's table stakes for token ied stocks

221
00:12:21.559 --> 00:12:24.639
<v Speaker 3>to really take off. That you know, a holder of

222
00:12:24.679 --> 00:12:27.360
<v Speaker 3>a token I stock has access to all of the

223
00:12:27.399 --> 00:12:31.759
<v Speaker 3>same services at at least you know, as good or

224
00:12:31.799 --> 00:12:36.240
<v Speaker 3>better terms as would a holder of traditional stock. So today,

225
00:12:36.879 --> 00:12:38.960
<v Speaker 3>I mean really just in the last six weeks, they

226
00:12:38.960 --> 00:12:42.039
<v Speaker 3>have the ability to buy and sell at the same liquidity,

227
00:12:42.200 --> 00:12:45.039
<v Speaker 3>but they don't yet have the ability to like margin

228
00:12:45.080 --> 00:12:47.519
<v Speaker 3>their token I stock at the same sort of margin

229
00:12:47.600 --> 00:12:51.320
<v Speaker 3>rates that you could get at you know, a prime

230
00:12:51.360 --> 00:12:55.679
<v Speaker 3>brokerage account in the US. So offering offering that is

231
00:12:55.799 --> 00:13:00.399
<v Speaker 3>very top of mind, right, Maybe that's all all league

232
00:13:00.399 --> 00:13:02.519
<v Speaker 3>for now. There's sort of other services that you should

233
00:13:02.879 --> 00:13:06.080
<v Speaker 3>imagine that folks have access to, you know in the US,

234
00:13:06.120 --> 00:13:08.120
<v Speaker 3>like you know, derivs would be a big one that

235
00:13:08.919 --> 00:13:10.440
<v Speaker 3>there's still a need for on chain.

236
00:13:10.600 --> 00:13:15.639
<v Speaker 1>So yeah, well, a lot of folks are looking forward

237
00:13:15.679 --> 00:13:18.559
<v Speaker 1>to the Market Structure Bill passing. Uh that's we got

238
00:13:18.559 --> 00:13:20.840
<v Speaker 1>the government shut down and the bills in the Senate.

239
00:13:21.399 --> 00:13:23.600
<v Speaker 1>But once that passes, what do you impact do you

240
00:13:23.600 --> 00:13:25.279
<v Speaker 1>think it's going to have on the industry as far

241
00:13:25.279 --> 00:13:26.600
<v Speaker 1>as innovation and growth?

242
00:13:28.600 --> 00:13:29.440
<v Speaker 2>It's a good question.

243
00:13:29.600 --> 00:13:35.480
<v Speaker 3>I mean, it's not something that's super top of mind

244
00:13:35.519 --> 00:13:39.120
<v Speaker 3>for us because I think it mostly contends with questions

245
00:13:39.159 --> 00:13:41.720
<v Speaker 3>related to like what isn't isn't a security, or at

246
00:13:41.759 --> 00:13:45.519
<v Speaker 3>least that's like the crux of the focus of much

247
00:13:45.519 --> 00:13:48.519
<v Speaker 3>of the industry. Sure, we're just in the land of

248
00:13:48.639 --> 00:13:52.559
<v Speaker 3>accepting that everything that we deal with is a security. Okay,

249
00:13:53.200 --> 00:13:56.639
<v Speaker 3>So you know, we are able to make quite a

250
00:13:56.679 --> 00:13:59.799
<v Speaker 3>lot of progress around things like bringing token is securities

251
00:13:59.840 --> 00:14:03.240
<v Speaker 3>into the US, even without having to wait for new legislation.

252
00:14:03.639 --> 00:14:07.279
<v Speaker 1>Oh for sure, Nathan, great stuff. We're going to have

253
00:14:07.320 --> 00:14:09.720
<v Speaker 1>to do a longer form interview in person, am I

254
00:14:09.759 --> 00:14:11.960
<v Speaker 1>study at some point, and I'm looking forward to the

255
00:14:11.960 --> 00:14:13.840
<v Speaker 1>future updates Aron onto. But thank you so much for

256
00:14:13.879 --> 00:14:17.080
<v Speaker 1>taking the time for having me. This episode is brought

257
00:14:17.080 --> 00:14:19.960
<v Speaker 1>to you by I Trust Capital. I Trust Capital gives

258
00:14:20.000 --> 00:14:24.080
<v Speaker 1>you a great alternative for buying, selling, and custodying your

259
00:14:24.120 --> 00:14:26.759
<v Speaker 1>crypto assets. They allow you to set up a self

260
00:14:26.799 --> 00:14:30.399
<v Speaker 1>directed IRA, which gives you huge tax advantages. You can

261
00:14:30.440 --> 00:14:33.159
<v Speaker 1>even roll over your four to one K to this platform.

262
00:14:33.480 --> 00:14:36.679
<v Speaker 1>And they not only offer crypto, they also offer gold

263
00:14:36.720 --> 00:14:40.679
<v Speaker 1>and silver and as mentioned, the custody gives you another

264
00:14:41.360 --> 00:14:44.919
<v Speaker 1>very safe alternative. So many of you know about self

265
00:14:44.960 --> 00:14:47.559
<v Speaker 1>custody that's a great option, but you can also use

266
00:14:47.639 --> 00:14:51.480
<v Speaker 1>I Trust Capital's Premium custody accounts, also known as PCA.

267
00:14:51.720 --> 00:14:55.559
<v Speaker 1>So with the rise of crypto scams and phishing attacks,

268
00:14:55.799 --> 00:14:58.759
<v Speaker 1>a lot of retail investors are losing their shirts. I mean,

269
00:14:58.799 --> 00:15:01.919
<v Speaker 1>let's be honest, right, it's to hear that exchanges are

270
00:15:01.919 --> 00:15:04.440
<v Speaker 1>getting hacked. Well, I Trust Capital does things a bit

271
00:15:04.480 --> 00:15:08.360
<v Speaker 1>different here. They use Ford Bank as they're qualified custudent

272
00:15:08.360 --> 00:15:10.919
<v Speaker 1>and so they're actually using a bank here, and they

273
00:15:10.919 --> 00:15:15.159
<v Speaker 1>have partnerships with coinbased Prime Fidelity and Fireblocks. They are

274
00:15:15.320 --> 00:15:18.919
<v Speaker 1>fully US based and their client experienced team offers direct

275
00:15:18.919 --> 00:15:22.200
<v Speaker 1>phone support. So not many platforms offer this. This is

276
00:15:22.279 --> 00:15:25.159
<v Speaker 1>very unique to I Trust Capital and folks, most recently

277
00:15:25.200 --> 00:15:28.399
<v Speaker 1>we heard from President Trump that the United States is

278
00:15:28.440 --> 00:15:31.440
<v Speaker 1>looking to unlock for one case to be able to

279
00:15:31.519 --> 00:15:34.240
<v Speaker 1>participate in crypto. Well, you can get a head of

280
00:15:34.240 --> 00:15:38.000
<v Speaker 1>the curve by using I Trust Capital and getting started

281
00:15:38.039 --> 00:15:40.600
<v Speaker 1>in that process. And folks, I'm a user of the platform.

282
00:15:40.639 --> 00:15:41.679
<v Speaker 2>I have an account with them.

283
00:15:41.840 --> 00:15:43.639
<v Speaker 1>If you sign up with my link, which is I

284
00:15:43.720 --> 00:15:47.279
<v Speaker 1>Trustcapital dot com slash Thinking Crypto, you can get an

285
00:15:47.279 --> 00:15:51.080
<v Speaker 1>exclusive one hundred dollars funding bonus. So go learn about

286
00:15:51.080 --> 00:15:55.639
<v Speaker 1>this great, safe and awesome way to buy, sell, and

287
00:15:55.639 --> 00:15:58.799
<v Speaker 1>custody your crypto. A great alternative once again, with tax

288
00:15:58.840 --> 00:16:02.759
<v Speaker 1>advantages and a lot of safety. Very safe compared to

289
00:16:02.799 --> 00:16:05.799
<v Speaker 1>many exchanges, and all the links will be in a description.

290
00:16:06.120 --> 00:16:06.639
<v Speaker 2>Check it out