Circle’s S-1 filing offers a window into the economics of the stablecoin industry.
The post dig deeper into Circle’s current success and explore if the same model can survive a changing financial topology.
Circle S-1 and the future of money
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The future of credit underwriting
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The process of underwriting a consumer or a small business has always been fascinating for me. I’ve always found it stimulating to determine someone’s creditworthiness using a more or less complicated formula. Money Changers by Salomon Koninck That’s why, over the last decade, I’ve consistently gravitated toward lending and credit—across different companies, geographies, and markets. In this...
Fintech applications for AI Agents
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AI Agents are set to redefine fintech by automating workflows, decision-making, and financial interactions.
This post explores how financial applications must evolve to accommodate AI Agents, focusing on agentic workflows, API optimization, human oversight, and authentication
Stablecoins 2.0
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Stablecoins, led by Tether (USDT) and USDC, now total $180 billion, with new entrants like yield-bearing stablecoins, PayPal's PYUSD, Agora and M0 trying to disrupt the market.
While USDT and USDC dominate, blockchain’s true potential could lead to disruptive changes in the future of money.
The legal Operative System of DeFi: Tau Finance
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A common pattern of innovation in technology is to carve out a piece of infrastructure present in a big number of companies, specialise on it, productize it and turn it into a service. This is what Amazon did with AWS in the computing space. But many other companies are trying to apply the same playbook to several other segments. For example, two years ago I presented Credix, which is...
Memecoins: something more than speculation?
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The most successful narrative in the crypto space in 2024 is with very little doubt the one about memecoins (source: Dune dashboard by @cryptokoryo_research). Memecoins’ performance has clearly outpaced RWAs and L2s narratives, achieving an aggregated market cap of almost $50B (as of July 30, 2024), with an all-time high of almost $70B. This number is stunning considering that these tokens...
The awakening of the sleeping giant: Bitcoin Defi
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Bitcoin, undeniably the poster child of the cryptocurrency movement and the most important coin by market cap size, is often viewed within the crypto ecosystem as a stable yet unexciting platform with few new developments. Although Bitcoin was the first cryptocurrency, real innovation has been occurring elsewhere, notably on Ethereum. Thus, the narrative that has developed around Bitcoin portrays...
AI in finance bulletin #2
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Artificial Intelligence is currently one of the most discussed technological trends and its impact on our society is expected to be significant. For this reason, we have decided to launch a monthly bulletin focused on key AI events within the financial sector. This bulletin will feature a curated selection of news, papers, and articles designed to keep you informed about AI developments without...
Staking 101
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The first part of this year the crypto space has been characterized by a sudden and – in many cases – unexpected, bull market. Prices returned to all-time highs very quickly, and the most important narrative fuelling this phenomenon is staking, particularly through its most advanced evolution, which is restaking. The goal of this post is to explain to a non-crypto user what...
AI in Finance bulletin #1
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Artificial Intelligence is currently one of the most discussed technological trends and its impact on our society is expected to be significant. For this reason, we have decided to launch a monthly bulletin focused on key AI events within the financial sector. This bulletin will feature a curated selection of news, papers, and articles designed to keep you informed about AI developments without...