Latest / The Paul Barron Crypto Show / Black Friday Crypto Wallet Now PAYS YOU!? 💰 Tangem Pay Yield Mode🚨CEO INTERVIEW

Transcript

Black Friday Crypto Wallet Now PAYS YOU!? 💰 Tangem Pay Yield Mode🚨CEO INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's get into what we're going to be talking about today,
• 0:02
  Speaker 1: which is Tangum Pay. You guys have seen our Tangum
• 0:05
  Speaker 1: cards a lot. They're one of our channel partners. Well,
• 0:08
  Speaker 1: today we're going to break down how tanguent pay is
• 0:10
  Speaker 1: going to work. You don't want to miss it. Let's
• 0:12
  Speaker 1: just jump right in. I want to bring in the
• 0:14
  Speaker 1: CEO of tanguent Pay, Marcos Nunyez. How are you very good?
• 0:20
  Speaker 2: Very good? Thank you Paul for having me here.
• 0:22
  Speaker 1: Absolutely listen, we're recording this as of Black Friday here
• 0:26
  Speaker 1: in the United States. Tangum has an amazing deal. You
• 0:29
  Speaker 1: guys can of course jump over and get twenty percent
• 0:31
  Speaker 1: off plus a ten dollars bitcoin reward.
• 0:34
  Speaker 3: So this is the time.
• 0:35
  Speaker 1: If you haven't done self custody yet, this is the
• 0:38
  Speaker 1: time you want to do it. It's it's worth the
• 0:41
  Speaker 1: time to go out and do it. And you probably
• 0:42
  Speaker 1: everybody's off eating you know, you just had turkey. Everybody's
• 0:45
  Speaker 1: sitting down watching some football. I understand that Americans do
• 0:49
  Speaker 1: that kind of stuff.
• 0:50
  Speaker 3: Take some time, go out and get this started. We
• 0:53
  Speaker 3: got to get into this.
• 0:54
  Speaker 1: Marcos, how many First of all, how many users are
• 0:57
  Speaker 1: on tangum today that.
• 1:00
  Speaker 2: Actually holds the hardware Wallet nearly a million monthly active users,
• 1:06
  Speaker 2: about three hundred and fifty kay majority of Denverar City
• 1:10
  Speaker 2: in the US.
• 1:11
  Speaker 3: That's amazing. Oh, that's amazing.
• 1:13
  Speaker 2: A lot of our users are going to be, you know,
• 1:15
  Speaker 2: watching football as you say.
• 1:17
  Speaker 3: Yes, yes, for sure.
• 1:19
  Speaker 1: You guys also had a big update around Tangent pay.
• 1:23
  Speaker 1: I was talking to some of your team. This is
• 1:25
  Speaker 1: a pretty amazing leap forward when you think about financial services.
• 1:30
  Speaker 3: I'll go to your website real quick.
• 1:32
  Speaker 1: This is self custody instance spending. So explain to me
• 1:36
  Speaker 1: how I can do this with a self custody wallet
• 1:39
  Speaker 1: using a Visa essentially the Visa.
• 1:41
  Speaker 3: Credit card network. How does this work? Explain a little
• 1:44
  Speaker 3: bit more about it.
• 1:46
  Speaker 2: So, from a user perspective, it works exactly the same
• 1:50
  Speaker 2: as the traditional card. You basically have a pin code
• 1:55
  Speaker 2: and you can just go into any terminal and as
• 1:59
  Speaker 2: long as you have balance in your spend account, you
• 2:02
  Speaker 2: can just you know, tap and pay. So but in reality,
• 2:07
  Speaker 2: what happens behind the scenes. Essentially, you launch, you send
• 2:14
  Speaker 2: USDC if you're spending account directly from your hardware ballet.
• 2:19
  Speaker 2: So you have your hardware wallet account, you swap and
• 2:22
  Speaker 2: send one click, and then you basically download your visa card.
• 2:28
  Speaker 2: You would still need to go uh KYC for this
• 2:31
  Speaker 2: product specifically, the worre your product, your Tangent is not
• 2:35
  Speaker 2: going to be KYC, or your funds are not going
• 2:38
  Speaker 2: to be ky Seeds. Essentially, this specific account that is
• 2:41
  Speaker 2: going to be ky Seeds and everything that you move
• 2:44
  Speaker 2: into this account. Essentially you can just use any eternal
• 2:49
  Speaker 2: no addition, please. One hundred dollars is one hundred dollars
• 2:52
  Speaker 2: in spending, so it almost feels like a debit account
• 2:56
  Speaker 2: rather than a yeah.
• 2:59
  Speaker 1: Can I go back same as your can I go
• 3:01
  Speaker 1: back and forth? Okay, so back and forth. If I
• 3:04
  Speaker 1: put more in there than I don't want to spend
• 3:06
  Speaker 1: on the card, I can flip it back over and
• 3:08
  Speaker 1: start earningield.
• 3:09
  Speaker 2: It's not a gift card, it's not a prepaid card.
• 3:12
  Speaker 2: It's actually an account. So you essentially just spend anywhere,
• 3:18
  Speaker 2: just like dollars.
• 3:20
  Speaker 1: Okay, So Marcos, one question I have is the speed
• 3:22
  Speaker 1: in which transactions occur with this is I would say,
• 3:26
  Speaker 1: if I have one negative thing I look at around Tangent,
• 3:30
  Speaker 1: it's the speed in which a swap occurs. I want
• 3:33
  Speaker 1: to swap, whether it's on change Ley or you know,
• 3:36
  Speaker 1: many of the other ones that are out there, by
• 3:38
  Speaker 1: the time it shows back I know it's immediate on chain,
• 3:41
  Speaker 1: but by the time it shows back up in your wallet,
• 3:44
  Speaker 1: it might be you know, fifteen twenty minutes in some
• 3:46
  Speaker 1: cases an hour. What about with going into Tangent pay
• 3:50
  Speaker 1: is it instantaneous? What's the speed mechanism? Instant Okay?
• 3:55
  Speaker 3: Perfect?
• 3:56
  Speaker 2: So that basically yeah, I mean we rely on partners
• 4:01
  Speaker 2: for swap because we don't hold the swap functionality ourselves.
• 4:04
  Speaker 2: We just display and therefore you see this delays on
• 4:08
  Speaker 2: the on the swap itself, but effectively once you send
• 4:12
  Speaker 2: from directly to your wallet, and I mean it's immediately
• 4:17
  Speaker 2: out there. I mean if even if you have USDC directly,
• 4:19
  Speaker 2: if you want to use another provider for swap, I mean,
• 4:22
  Speaker 2: we don't lock in users to do things in our site.
• 4:25
  Speaker 2: But you just choose and you can dose.
• 4:28
  Speaker 1: Right Yeah, I'm looking at the website right now. You
• 4:32
  Speaker 1: can go in drop in your your residence. I know
• 4:35
  Speaker 1: this is going to be available in the United States
• 4:37
  Speaker 1: and you can join the wait list right now, So
• 4:39
  Speaker 1: you guys should do that.
• 4:40
  Speaker 3: Yes, when is this going to launch Marcos.
• 4:44
  Speaker 2: It's officially launched. We're basically you're using our community users
• 4:49
  Speaker 2: right now as beta users, but I expect to release
• 4:54
  Speaker 2: officially to everybody from December fifteenth onwards.
• 4:59
  Speaker 3: Okay, and then when when would it be publicly available?
• 5:03
  Speaker 2: All right? So December fifteen, we're going to start putting
• 5:06
  Speaker 2: it out. The more the users that I mean, the
• 5:09
  Speaker 2: ones that joined the waiting list gets first, and we
• 5:14
  Speaker 2: progressively deliver throughout the Okay from fifteen words.
• 5:19
  Speaker 1: Okay, So I'm looking at a couple of things here.
• 5:22
  Speaker 1: When you look at more providers that are coming, I'm
• 5:25
  Speaker 1: looking at one of your our screenshots here, just showing
• 5:28
  Speaker 1: you know the way that this will work. Who's that
• 5:32
  Speaker 1: going to be? Could we see someone like a coinbase
• 5:34
  Speaker 1: or a robin hood in here.
• 5:38
  Speaker 2: From this swap? You mean?
• 5:40
  Speaker 1: Yes, like you've got here just for for transactions, you know,
• 5:44
  Speaker 1: in terms of availability. Right now, I can use mercurial
• 5:47
  Speaker 1: if I want to access funds, do we could we
• 5:49
  Speaker 1: get at some point Coinbase or robin here to be
• 5:52
  Speaker 1: able to access crypt you know, whether it's USDC or
• 5:55
  Speaker 1: other crypto funds that I want to move into an asset.
• 5:57
  Speaker 2: Base you and move via what connects your funds into
• 6:03
  Speaker 2: Tangent harborre wallet. We're I mean, and we don't connect
• 6:09
  Speaker 2: those wallets with the hardware wallets, right, So I mean
• 6:13
  Speaker 2: you can definitely transfer those funds to the spending account.
• 6:18
  Speaker 2: I mean, the channel will always be via the harbor
• 6:21
  Speaker 2: wallet and not directly from the hobbying hoods or the
• 6:26
  Speaker 2: coin basis to the spending accounts. And the only reason
• 6:30
  Speaker 2: is we still run the KYT on the original funds,
• 6:35
  Speaker 2: so everything. The way you have to look at the
• 6:38
  Speaker 2: difference between the storage and the spending is actually in
• 6:44
  Speaker 2: the spending. We are compliant with everything that we must
• 6:48
  Speaker 2: be compliant with in order to provide the services. So
• 6:52
  Speaker 2: it's it's almost like a separate business within a business
• 6:56
  Speaker 2: because we are running KYT, we're running KYC. We're making
• 6:59
  Speaker 2: sure the experience of the user is not going through
• 7:03
  Speaker 2: tons of documentations to just open a bank account to
• 7:08
  Speaker 2: get the funds in and then you can spend it.
• 7:12
  Speaker 2: So the idea is that within three to five minutes
• 7:14
  Speaker 2: you can move whatever you want to spend into that
• 7:16
  Speaker 2: spending account.
• 7:17
  Speaker 3: Perfect.
• 7:18
  Speaker 2: We do want you to use the Harbor wallet and
• 7:21
  Speaker 2: your harbore wallet account in order to go through this
• 7:24
  Speaker 2: process of spending.
• 7:26
  Speaker 1: So, once I'm in the Tangent pay account, would I
• 7:29
  Speaker 1: be able to buy crypto within that using it like
• 7:33
  Speaker 1: where you could There's some cards out there where you
• 7:36
  Speaker 1: just can buy directly in off of the account itself.
• 7:39
  Speaker 3: Anything like that going to happen.
• 7:41
  Speaker 2: Basically, it's a visa card and accepts any terminal or
• 7:44
  Speaker 2: any one of the one hundred and thirty million merchants
• 7:47
  Speaker 2: all over the world that accepts visa. Right, So, if
• 7:50
  Speaker 2: you want to buy crypto using that card and simply
• 7:53
  Speaker 2: massive balance in that account, if you can actually within
• 7:58
  Speaker 2: the Tungent app, if you can switch between different assets today,
• 8:02
  Speaker 2: the answer is not yet okay, and simply because I
• 8:06
  Speaker 2: mean again, let's the purpose is. First, we have a
• 8:12
  Speaker 2: million users that holds substantial amount of money and they
• 8:17
  Speaker 2: often have difficulties to offer REMP simply because they have
• 8:22
  Speaker 2: very complex KYC that they have to go through in
• 8:26
  Speaker 2: all the countries that we basically serve. And the idea
• 8:29
  Speaker 2: is to reduce that first pain. Then from there there
• 8:33
  Speaker 2: is a second pain. I want to go and spend
• 8:36
  Speaker 2: in my local currency. I don't want to spend in
• 8:39
  Speaker 2: dollars when I live, you know, in Europe. Then we're
• 8:42
  Speaker 2: going to allow different types of stables for the different markets,
• 8:47
  Speaker 2: but the ideas always have stables in the spending account
• 8:51
  Speaker 2: because the actual wealth should be sitting in the hardware wallet.
• 8:56
  Speaker 2: We don't want to mix, We don't want to confuse
• 8:59
  Speaker 2: the purposes. If you want to store and grow, that's
• 9:03
  Speaker 2: where you should use, you know, the hardware wallet and
• 9:06
  Speaker 2: and all the security around to protect your wealth. The
• 9:09
  Speaker 2: spending is your weekly money, Your monthly money is your
• 9:13
  Speaker 2: daily money. You choose, and and and and that should
• 9:16
  Speaker 2: be available like a debit card, even though uh so
• 9:21
  Speaker 2: it's mimics. Is your your your bank essentially, so a
• 9:25
  Speaker 2: bit of what can is going.
• 9:27
  Speaker 3: To Yeah, and so they're cracking is launching their debit cards.
• 9:31
  Speaker 1: So when you're going to a retailer, will they see
• 9:33
  Speaker 1: it as a debit card or will they see it
• 9:36
  Speaker 1: as a credit card?
• 9:38
  Speaker 2: They will see it as a credit card, but it
• 9:40
  Speaker 2: will behave like a debit card, a debit card.
• 9:43
  Speaker 3: So this is kind of I'm not seen one of
• 9:46
  Speaker 3: these before.
• 9:47
  Speaker 2: It is we are trying to make something again. The
• 9:55
  Speaker 2: way to disrupt the world is not by basically saying,
• 9:59
  Speaker 2: you know, let's re everyone and and and you know,
• 10:03
  Speaker 2: try to reinvent the will, try to reinvent the network,
• 10:06
  Speaker 2: trying to reinvent, you know, the point of sale. I
• 10:09
  Speaker 2: think there's substantial infrastructure out there that we can leverage.
• 10:14
  Speaker 2: So our idea is to interoperate with the existing infrastructure
• 10:21
  Speaker 2: and from that moment onwards offer the experience that we
• 10:25
  Speaker 2: want our users to have. So if it's a debit transaction,
• 10:30
  Speaker 2: you know, we want them to have that feeling of
• 10:32
  Speaker 2: debit transaction. If they want credit, we will offer credit
• 10:36
  Speaker 2: in sometime from now, still in twenty six, but I
• 10:41
  Speaker 2: want them to behave like this should be their card
• 10:44
  Speaker 2: for everything they do from now onwards.
• 10:47
  Speaker 1: Yeah, I want to, and it will roadmap at the end.
• 10:50
  Speaker 1: But I'm kind of curious, is is there any plan
• 10:53
  Speaker 1: to get a banking license? I mean, you've got a
• 10:56
  Speaker 1: credit card or a debit card here at some point
• 10:58
  Speaker 1: is there would you want an a BA routing where
• 11:01
  Speaker 1: people could use it for that?
• 11:02
  Speaker 2: We definitely don't need that, and we are coming up
• 11:06
  Speaker 2: with a h wire transfer. Okay, We're coming up with
• 11:10
  Speaker 2: everything without the need of that license.
• 11:14
  Speaker 1: Okay, Well, if you're if you're getting we respecting a banker, Okay,
• 11:20
  Speaker 1: I like that I like that. One other thing I
• 11:22
  Speaker 1: wanted to hit on also in today's call was to
• 11:26
  Speaker 1: talk about Tangum yield, because that's that's a big move
• 11:29
  Speaker 1: forward for Tangum as a whole.
• 11:32
  Speaker 2: Uh.
• 11:32
  Speaker 1: Now, you've got all of these stable coins being powered
• 11:35
  Speaker 1: by AVE, which is where the yield is working. You
• 11:37
  Speaker 1: guys have announced this. I'm kind of curious when you
• 11:41
  Speaker 1: go into AVE. I'm over here on the core instance
• 11:43
  Speaker 1: there you can kind of see all the stable coins
• 11:45
  Speaker 1: that are in there. R l U s D is
• 11:47
  Speaker 1: in there as well. Would I be able to earn
• 11:49
  Speaker 1: yield on my r l U s D inside Tangum.
• 11:55
  Speaker 2: Yeah, So we have usd C and usd T basically
• 12:01
  Speaker 2: on the ute right now. The idea is to actually
• 12:03
  Speaker 2: connect that to the spending account, so basically you have
• 12:05
  Speaker 2: balanced sitting in the spending account instead of just you know,
• 12:10
  Speaker 2: being there not accruing value to the user. The idea
• 12:14
  Speaker 2: is that basically that money goes directly to your yield account,
• 12:18
  Speaker 2: and then you can authorize transactions from that yield account.
• 12:22
  Speaker 2: So we're going to start linking all of this account
• 12:27
  Speaker 2: behind the scenes as users are interested on, so truly
• 12:33
  Speaker 2: behaving like a like a bank and normally bankers do
• 12:36
  Speaker 2: not give yields back on checking the account. Well, we
• 12:41
  Speaker 2: want to be slightly different in that concept.
• 12:44
  Speaker 1: What blockchain are you guys running on for these transactions.
• 12:48
  Speaker 2: Right now? Polygon? All right, and we've been criticized a
• 12:53
  Speaker 2: lot about that. Why Polygon? Why not other networks? But
• 12:57
  Speaker 2: I mean speed costs. We don't want our users to
• 13:02
  Speaker 2: pay gas fees on these transactions. One hundred dollars should
• 13:04
  Speaker 2: be one hundred dollars. And we have partnered with the
• 13:08
  Speaker 2: Polygon guys. They are supporting us in the I mean,
• 13:12
  Speaker 2: it behaves exactly like a card. It's two seconds, and
• 13:18
  Speaker 2: you're authorizing on chain balance. That's very important. This is
• 13:23
  Speaker 2: not off chain balance. This is on chain balance, so
• 13:26
  Speaker 2: the user are basically authorizing against it's the self custody account.
• 13:31
  Speaker 1: Okay, all right, these are all good things I think
• 13:35
  Speaker 1: as we see you guys, I mean we've we've of
• 13:37
  Speaker 1: course had you guys as a partner for a long time,
• 13:39
  Speaker 1: and I've seen the development of you know, a basic
• 13:43
  Speaker 1: you know, self custody wallet into a very active financial
• 13:48
  Speaker 1: instrument that is just continuing to grow.
• 13:50
  Speaker 3: So kudos to everything you guys are doing.
• 13:52
  Speaker 1: I'm kind of Okay, So let's take a look at
• 13:55
  Speaker 1: a couple other things we've We've had two things that
• 13:58
  Speaker 1: have played into this around payments. Part of this would
• 14:02
  Speaker 1: be in the area of point of sale terminals, things
• 14:05
  Speaker 1: like that you've got Burner, we had them on last week.
• 14:08
  Speaker 1: They're using kind of almost like a little gift card
• 14:11
  Speaker 1: to where you can use it as at a merchant.
• 14:13
  Speaker 1: With Tangium pay, you're going right into the visas system.
• 14:17
  Speaker 1: Is there a potential down the road where you could
• 14:20
  Speaker 1: somehow incorporate crypto into payment that could possibly link up
• 14:25
  Speaker 1: to a point a sale system that any retailer could
• 14:28
  Speaker 1: get access to.
• 14:31
  Speaker 2: I will be blunt to answer not in the short term, okay,
• 14:36
  Speaker 2: and I don't see this happening in the next two
• 14:38
  Speaker 2: to three years. I would not spend time on this.
• 14:41
  Speaker 2: And it's not because the guys are doing something that
• 14:45
  Speaker 2: doesn't make sense. It's quite the country. I think it
• 14:47
  Speaker 2: makes a lot of sense. But our philosophy is to
• 14:51
  Speaker 2: disrupt within the existing infrastructure. Intropability allows users and adoption
• 14:58
  Speaker 2: to be a lot cheaper and faster. And the problem
• 15:03
  Speaker 2: I mean, I was the co CEO of a very
• 15:06
  Speaker 2: large financial business. We grew rapidly in fourteen countries, and
• 15:11
  Speaker 2: the acquiring side we had almost eight hundred thousand merchants.
• 15:18
  Speaker 2: And the problem of a merchant is, you know, they
• 15:21
  Speaker 2: are mamas and papa shops. They are not really familiar
• 15:25
  Speaker 2: with technology. They just want to receive as many currencies
• 15:28
  Speaker 2: as they can to sell more. They don't want to
• 15:31
  Speaker 2: think about different devices they want to They don't want
• 15:33
  Speaker 2: to think about different products. Like if you can give
• 15:36
  Speaker 2: them one device that transacts a thousand different types of currencies, perfect,
• 15:40
  Speaker 2: But if you give them five devices to make less
• 15:44
  Speaker 2: to cost lead, it's very difficult to make them adopt.
• 15:48
  Speaker 2: So in my view, using the network is great, and
• 15:52
  Speaker 2: I think there's a very misunderstanding of the cost and
• 15:56
  Speaker 2: the payments. Uh, these is not the main problem. The
• 16:01
  Speaker 2: problem is the tax stack of the banking industry. It's
• 16:06
  Speaker 2: from Cobo and mainframe, which were created in the sixties,
• 16:11
  Speaker 2: in the seventies, and the iPhone that my iPhone today
• 16:15
  Speaker 2: will probably be great in twenty thirty still needs to
• 16:18
  Speaker 2: talk to the nineteen sixties and nineteen seventies. So you
• 16:21
  Speaker 2: have so many aggregators, and today between a merchant and
• 16:25
  Speaker 2: a nicheer you have about fifteen players getting a little
• 16:30
  Speaker 2: slice of the transaction. So by introducing blockchain accounts in
• 16:37
  Speaker 2: connected into the visa network, we are able to go
• 16:40
  Speaker 2: back into that three party model, four party model, or
• 16:44
  Speaker 2: five party model in the worst case scenario. So I
• 16:47
  Speaker 2: think we have enough room to reduce the cost of
• 16:50
  Speaker 2: the transaction without having to go into the hardware or
• 16:55
  Speaker 2: re educating the merchants. And that's just a plea.
• 17:00
  Speaker 1: Yeah, if you can get to that level where you
• 17:02
  Speaker 1: can not only make it convenient but also change the cost,
• 17:06
  Speaker 1: even if it's just a fraction of a percent, that's
• 17:10
  Speaker 1: a big deal for a retailer overall. I think obviously
• 17:14
  Speaker 1: for the consumer side, you're hitting it, you know, in
• 17:16
  Speaker 1: terms of features though.
• 17:18
  Speaker 2: That's normally you know the joke between the chicken and
• 17:21
  Speaker 2: the egg, Actually, yeah, it's always the egg. So in fact,
• 17:25
  Speaker 2: in the situation, you start from the issuing side because
• 17:29
  Speaker 2: that's the demand, and once the bin which is the
• 17:33
  Speaker 2: number associated with their card, touch the terminal, you can
• 17:37
  Speaker 2: recognize it's a stable account. From that moment, onward, Circle
• 17:43
  Speaker 2: or other tether decide to have a partnership with that merchant,
• 17:50
  Speaker 2: we can route the transaction than.
• 17:54
  Speaker 1: That, right, there is a big okay, that changes my
• 17:57
  Speaker 1: thinking on this differently exactly, and then how merchants have
• 18:01
  Speaker 1: been able to deal with this in the past. That's
• 18:03
  Speaker 1: a very interesting point.
• 18:05
  Speaker 3: You're just right, I think maybe.
• 18:06
  Speaker 2: One tiny step deeper. Not to be too technical again,
• 18:11
  Speaker 2: but there's something called the single messaging and the dual messaging,
• 18:16
  Speaker 2: which are how do you deal with authorization, clearing and
• 18:21
  Speaker 2: settlement in a transaction? So authorize, okay, you can now
• 18:26
  Speaker 2: both take the goods, and once it's confirmed that transaction
• 18:31
  Speaker 2: was done by you through the authentication mechanisms, then you
• 18:35
  Speaker 2: settle with the schemes, so you clear and then you subtle.
• 18:39
  Speaker 2: The difference between single and dual is that single you
• 18:44
  Speaker 2: do authorization, clear and settlement in one message, and dual
• 18:49
  Speaker 2: you do authorizations separate from clearing and settlement. So we
• 18:54
  Speaker 2: can use the schemes to authorize because the network and
• 18:59
  Speaker 2: the infrastructures.
• 19:00
  Speaker 3: Already there, already there.
• 19:01
  Speaker 2: But for clearing settlement you can make bilateral agreements with
• 19:06
  Speaker 2: stable providers, so you don't need to disrupt. You can
• 19:09
  Speaker 2: still use the schemes, and you can still use the
• 19:12
  Speaker 2: entire infrastructure of the work.
• 19:14
  Speaker 1: Exactly, you're something you're completely supplanting the old banking system
• 19:19
  Speaker 1: at that point, because then you would be looking at
• 19:21
  Speaker 1: a reroute on how that. I think the key there
• 19:24
  Speaker 1: is if retailers finally get to the point where there
• 19:27
  Speaker 1: they feel comfortable with stable coins, you're gonna be big
• 19:30
  Speaker 1: real retailers going to Tether and Circle and trying this
• 19:32
  Speaker 1: or someone like Ripple.
• 19:34
  Speaker 3: All these guys would be able to do this.
• 19:36
  Speaker 2: And maybe a little tip for those that think I'm
• 19:40
  Speaker 2: a bit crazy, look at Circle payment network well exactly
• 19:44
  Speaker 2: and try to try to, you know, understand behind the
• 19:48
  Speaker 2: scenes the move. So I am. I think I've been
• 19:52
  Speaker 2: in payments too long. I helped to create a lot
• 19:55
  Speaker 2: of the payment regulation all of the world, so I've
• 19:58
  Speaker 2: seen enough to understand that we can disrupt sufficiently just
• 20:03
  Speaker 2: by taking the garfields out before we actually replace technology.
• 20:10
  Speaker 2: So there's too many you know, people in between there
• 20:13
  Speaker 2: are not needed that you can just simply blik past them.
• 20:17
  Speaker 3: Yeah, for sure.
• 20:17
  Speaker 1: Are you at all worried about the Clarity Act here
• 20:20
  Speaker 1: in the US where if we get some pushback on
• 20:23
  Speaker 1: self custody. I think there's been questions about self custody.
• 20:27
  Speaker 1: There's a lot of Congress that are defending this adamantly.
• 20:31
  Speaker 1: Are you concerned about that at all?
• 20:32
  Speaker 3: Right now?
• 20:36
  Speaker 2: I mean right now not. I definitely think it's an
• 20:39
  Speaker 2: important topic. Obviously, we are supporters of the self custody.
• 20:44
  Speaker 2: The entire product is based on self custody. I am
• 20:47
  Speaker 2: a believer of choice, so open banking for me is
• 20:50
  Speaker 2: kind of a self custody concept. Yeah, because it's you know,
• 20:55
  Speaker 2: the data on chain should be freely moving from different
• 20:58
  Speaker 2: providers that I choose as a human. So self custody
• 21:03
  Speaker 2: is the only way for you to actually do this,
• 21:05
  Speaker 2: and it's full potential. But again, I actually think we
• 21:09
  Speaker 2: can work around this topic to get over with the authorities.
• 21:13
  Speaker 2: So hopefully we're called also to influence and this type
• 21:17
  Speaker 2: of topic. I'm behind the scenes trying to help as
• 21:20
  Speaker 2: much as possible for sure.
• 21:23
  Speaker 1: Last question to you, if you think about the centralized
• 21:26
  Speaker 1: exchange debit slash credit cards that are being touted out there,
• 21:31
  Speaker 1: what you guys have done is kind of combined the
• 21:33
  Speaker 1: idea of self custody with yield now along with tangrum
• 21:38
  Speaker 1: pay that kind of benefits both within one ecosystem. Do
• 21:42
  Speaker 1: you think the end of centralized exchange debit and credit
• 21:45
  Speaker 1: cards are coming near? Versus defiant self custody.
• 21:50
  Speaker 2: I truly hope, because it's the most expensive mechanism a
• 21:57
  Speaker 2: user can have from a part, from the safety, security
• 22:01
  Speaker 2: and all the topics that we're all very familiar with.
• 22:05
  Speaker 2: I think it's just super costly. And the alternative that
• 22:08
  Speaker 2: we're bringing it behaves more as a typical financial institution
• 22:13
  Speaker 2: where users are going to feel more comfortable to migranting.
• 22:16
  Speaker 2: So if maybe I want to kind of paint a
• 22:19
  Speaker 2: little image of Dungeon where we're going so people can
• 22:24
  Speaker 2: kind of understand a bit of our vision. Imagine that,
• 22:30
  Speaker 2: you know, two hundred years ago, in Switzerland, we're a
• 22:32
  Speaker 2: Swiss business. People wanted to, you know, for through security
• 22:39
  Speaker 2: and safety. They wanted to bring their funds to Switzerland,
• 22:42
  Speaker 2: and then a manager would have a key and the
• 22:45
  Speaker 2: user would get a key, and then everything that you
• 22:47
  Speaker 2: put it in a safe could only be open with
• 22:50
  Speaker 2: those two keys. And then essentially you would go away
• 22:54
  Speaker 2: and then your muddy seeding there and you're totally, you know,
• 22:58
  Speaker 2: happy and secured that that was you know safe. Fast
• 23:03
  Speaker 2: forward two hundred years, we're replicating the exact same thing,
• 23:08
  Speaker 2: but without that manager. And what we learn in the
• 23:12
  Speaker 2: banking system is that one point it's not about just
• 23:16
  Speaker 2: keeping and storing funds in a secure place, but it's
• 23:19
  Speaker 2: also growing them over time and what products like they yields,
• 23:24
  Speaker 2: swaps and the different mechanims that we're bringing the Hopefully
• 23:29
  Speaker 2: we can come back here in one quarter to present
• 23:32
  Speaker 2: as well, it will be more about this growth and
• 23:36
  Speaker 2: this access to credit that users will be able to,
• 23:41
  Speaker 2: you know, increase their wealth, but at the same time
• 23:45
  Speaker 2: have the mechanims to spend the wealth. And then the
• 23:48
  Speaker 2: third block is actually the spending. So the eye buonds
• 23:52
  Speaker 2: the AH, the wire transfers, the peak skys, so whatever
• 23:56
  Speaker 2: it is for you to transfer, either because you want
• 23:59
  Speaker 2: to pay a rent or because you want to you know,
• 24:02
  Speaker 2: just use a debit card, credit card. So that is
• 24:06
  Speaker 2: the vision of Dungeum for twenty twenty six. Hopefully if
• 24:10
  Speaker 2: we can realize you know, fifty percent of that already,
• 24:14
  Speaker 2: I think our user base in our community is going
• 24:16
  Speaker 2: to be extremely excited about the banking rails of Fungeon.
• 24:21
  Speaker 3: Yeah. Well, I've been watching you guys very closely.
• 24:23
  Speaker 1: Obviously was one of the reasons we partner with you
• 24:25
  Speaker 1: is the acceleration of new features, you know, because a
• 24:28
  Speaker 1: lot of companies kind of set on their hands. In blockchain,
• 24:31
  Speaker 1: they don't really come out with new products and services.
• 24:33
  Speaker 1: You guys have kind of been the opposite of that,
• 24:35
  Speaker 1: So kudos to what you guys are doing. Twenty twenty
• 24:37
  Speaker 1: six could be a big year for new stuff coming
• 24:40
  Speaker 1: from We're watching close on this one.
• 24:44
  Speaker 3: Marcos.
• 24:45
  Speaker 1: Hey, it's been great having you on the show. Thank
• 24:47
  Speaker 1: you so much for coming in today. I appreciate it.
• 24:50
  Speaker 2: Thank you very much. Paul.
• 24:52
  Speaker 3: You bet, all right, you guys, you bet. If you
• 24:54
  Speaker 3: guys know what to do.
• 24:55
  Speaker 1: If you are not in our private member group, which
• 24:57
  Speaker 1: is the Bear and Market Eds, you guys should be
• 24:59
  Speaker 1: there absolutely free to join, and all you have to
• 25:02
  Speaker 1: do is click the link down below. We'll also leave
• 25:04
  Speaker 1: a link down there for Tangum because you guys can
• 25:06
  Speaker 1: get into self custody. If you haven't done it, you
• 25:08
  Speaker 1: should be doing that as well. Follow me on x
• 25:11
  Speaker 1: at Paul Baron. We'll catch the next sign right here
• 25:13
  Speaker 1: on the Paul Baron Show.