Podcast Conversation: Building the best payments fiat to crypto onramp, with Ivan Soto-Wright of MoonPay
Hi Fintech Futurists,
In this conversation, we have a really cool conversation on fintech, crypto assets, payments and all the things around it with Ivan Soto-Wright, the CEO and Co-founder of MoonPay.
More specifically, we discuss Liability-driven Investment (LDI), the proliferation of AI in personal finance to drive sound decision-making, innovation in finance is following the same trajectory that resulted in VOIP for the telecommunication industry, the geographical maze of crypto KYC, payment networks, and crypto payment processing.
For premium subscribers, a full transcript is provided along with the recording.
Hope you enjoy, and do not hesitate to reach out here!
I think for me, there was so much attention and talk about bitcoin and price movement related to these cryptocurrencies. There wasn't a lot of focus on what the stuff would actually mean for the world. And it took a while for that to probably resonate with me, but I think that biggest takeaway for me is now anyone with internet connection has access to financial services. I mean, that's about huge. Essentially, open up, I can send value to anyone, anywhere right now as long as they have an internet connection. There's public and private cryptography that underpins crypto, you can immediately almost bypass the traditional banking system and immediately be able to receive value. I mean, that's revolutionary. And I think that's ultimately what gets me excited about: How do we solve global money movement? And really, how do we ultimately make people's lives better?
If you think about the legacy financial system, there's just so much cost. And essentially, it's a result of all these systems not talking to each other in the same language. And finally, we have this kind of universal shared language of the internet. This financial services world needs to be internet native. And I saw cryptocurrencies as this big opportunity, where also, I guess the price movement was also a draw for people to pay attention to the space and just excitement. I built a savings business, where the idea was we're connecting people's bank accounts, moving people to savings accounts. But it was kind of the old paradigm, interest rates being extremely low. It wasn't super compelling, so like flossing your teeth type product versus this is making me super happy to be using it every single day, wasn't exciting and compelling.
And so with crypto, I felt there was an opportunity to really engage people around financial services, so I felt that was the next wave that I needed to be part of…
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