Latest / The Paul Barron Crypto Show / Are Institutions Ready?🔒 iTrust Capital CEO INTERVIEW

Transcript

Are Institutions Ready?🔒 iTrust Capital CEO INTERVIEW · The Paul Barron Crypto Show

• 0:06
  Speaker 1: Today, I'm going to break into institutional custody. Also, we're
• 0:09
  Speaker 1: going to talk a little bit about security and what
• 0:11
  Speaker 1: this might mean to you guys, especially if you're an
• 0:12
  Speaker 1: a crypto investor, you want to stay tuned for this one.
• 0:15
  Speaker 1: My name is Pambara, will come back in a tech path.
• 0:17
  Speaker 1: One of the biggest things you can do is make
• 0:18
  Speaker 1: sure that whatever you're doing in crypto is done in
• 0:21
  Speaker 1: a secure basis. If you just look at the amount
• 0:23
  Speaker 1: of data breaches that we're already seeing, we've got Apple, Google, Facebook,
• 0:27
  Speaker 1: all of these starting to get into our own you know, inboxes.
• 0:32
  Speaker 1: This means everything from email, passwords, all that kind of stuff.
• 0:34
  Speaker 1: If you know what phishing is and you've ever been
• 0:37
  Speaker 1: kind of someone that's been had that attempted on you,
• 0:40
  Speaker 1: then you kind of understand. But the key here is
• 0:42
  Speaker 1: really just pay attention to what's happening at and t
• 0:46
  Speaker 1: also going out with one hundred and seventy six million
• 0:48
  Speaker 1: in data breach settlement to try to affect one hundred
• 0:51
  Speaker 1: nine million customers. These are huge in terms of sizes,
• 0:54
  Speaker 1: so this is why it's an important situation. Even our
• 0:58
  Speaker 1: healthcare systems are getting in to data breaches. So the
• 1:02
  Speaker 1: point being is it's happening all around the industry. I
• 1:05
  Speaker 1: wanted to bring in someone that kind of understands this.
• 1:08
  Speaker 1: But also we're going to talk about institutional custom because
• 1:11
  Speaker 1: that's important as well, especially around security, and one of
• 1:14
  Speaker 1: those is an expert that's in the area, and of
• 1:17
  Speaker 1: course it's the CEO of I Trust Capital, Kevin Maloney.
• 1:20
  Speaker 2: How are you good, Paul? Thanks for having me.
• 1:23
  Speaker 1: Great to be on absolutely so. First of all, thank you.
• 1:26
  Speaker 1: You guys are a great partner to the channel. We
• 1:28
  Speaker 1: appreciate your support. And one of the things I wanted
• 1:32
  Speaker 1: to hit on Kevin is really getting into some of
• 1:35
  Speaker 1: the new First of all, some of the new products
• 1:37
  Speaker 1: and features that you guys have launched here recently. Can
• 1:40
  Speaker 1: you share a little bit about what's going on there?
• 1:44
  Speaker 2: Yeah, Bo, you mentioned that the onset security and issues
• 1:49
  Speaker 2: that have been a clearing you know, sort of around
• 1:53
  Speaker 2: the globe, and it is a problem. You get the
• 1:56
  Speaker 2: fishing hacks, the fishing scams, data breaches. We've seen a
• 2:00
  Speaker 2: myriad of those in the news from large and small companies.
• 2:04
  Speaker 2: I've been hacked personally. A couple of the executives here
• 2:06
  Speaker 2: have been hacked personally. Simcard swap haack, you name it.
• 2:10
  Speaker 2: We do testing every week every month internally to make
• 2:13
  Speaker 2: sure our own employees don't fall a victim of scams
• 2:16
  Speaker 2: to gain access to personal or client accounts. So we're
• 2:21
  Speaker 2: very in tune with what's going on. We talked to
• 2:23
  Speaker 2: the federal regulators. We talked to the FBI, and they
• 2:28
  Speaker 2: give us a lot of good input of what to
• 2:29
  Speaker 2: do and what not to do to try to combat
• 2:31
  Speaker 2: this it's a problem. In response to that, some of
• 2:35
  Speaker 2: the things we've developed recently, we're building a registered investment
• 2:39
  Speaker 2: advisor platform for secure access for orias to onboard their clients,
• 2:44
  Speaker 2: maintain a UM, and give their clients access to crypto.
• 2:48
  Speaker 2: We're allowing businesses to hold, buy and hold digital assets
• 2:52
  Speaker 2: and treasury in a business account. Obviously, we built our
• 2:56
  Speaker 2: brand and reputation around the individual retirement account, the tax
• 3:00
  Speaker 2: advantage retirement account access for individuals, and most notably and
• 3:06
  Speaker 2: most recently, the premium custody account. That are taxable accounts
• 3:11
  Speaker 2: for individuals that all operate in a closed loop system,
• 3:15
  Speaker 2: and that closed loop system very simply doesn't allow access
• 3:18
  Speaker 2: to external wallets. So we're not an exchange, we're not
• 3:22
  Speaker 2: a payments platform. There's really big exchanges that do a
• 3:25
  Speaker 2: great job on that. You've got coinbased, crackindfinancecrypto dot Com,
• 3:28
  Speaker 2: they're excellent at that. For the retail masses, we developed
• 3:33
  Speaker 2: a closed loop system that does not allow our clients
• 3:36
  Speaker 2: to connect to external wallets. We can take in kind
• 3:40
  Speaker 2: crypto transfers from a wallet that's whitelisted and approved by US,
• 3:46
  Speaker 2: and then they can buy and sell and trade within
• 3:49
  Speaker 2: the IRA excuse me, within the isoscapital ecosystem. Again, the
• 3:54
  Speaker 2: closed loop system something that we developed by demand and
• 3:59
  Speaker 2: buy design and to prevent someone that's lazy, someone that
• 4:03
  Speaker 2: gets fished, someone that gets scammed or hacked or compromised,
• 4:07
  Speaker 2: those bad actors, those individuals can't get into the account
• 4:10
  Speaker 2: and drain the account.
• 4:12
  Speaker 1: You just hit on something that is a very big,
• 4:15
  Speaker 1: I think trend that we're already seeing in the market,
• 4:17
  Speaker 1: and that is companies starting to hold in custody cryptos.
• 4:21
  Speaker 1: Typically it's been bitcoin out there for sure. You talked
• 4:24
  Speaker 1: about your closed loop system. I'll kind of highlight that
• 4:27
  Speaker 1: right there. But the point I'm getting at for someone
• 4:29
  Speaker 1: to do that, you're a business owner, you're a big
• 4:32
  Speaker 1: maybe a multi national company that wants to deploy, and
• 4:36
  Speaker 1: you do want to take on something like this with
• 4:39
  Speaker 1: I Trust. How much flexibility do I have in that
• 4:42
  Speaker 1: account like I do with my I Trust capital IRA.
• 4:46
  Speaker 1: Do I have any kind of trade capacity or is
• 4:48
  Speaker 1: it more of just a wallet that's going to hold
• 4:50
  Speaker 1: that capital.
• 4:52
  Speaker 2: Yeah, So once you get assets into the ecosystem, you
• 4:55
  Speaker 2: can buy, hold, sell and trade. It's all self directed
• 4:58
  Speaker 2: on your own. We offer up to eighty you know,
• 5:00
  Speaker 2: different assets to choose from, and precious metals like gold
• 5:03
  Speaker 2: and silver. That's all held in an institutional cold wallet
• 5:07
  Speaker 2: ecosystem with you know NPC multi party computational access which
• 5:13
  Speaker 2: allows us to separate the keys and not have any one,
• 5:19
  Speaker 2: you know, failure point for access to the wallets. The
• 5:22
  Speaker 2: cold storage provider we use coin based institutional also gives
• 5:26
  Speaker 2: us multiple layers that we add from a customization perspective
• 5:30
  Speaker 2: to add multiple layers of additional security. So yeah, there's
• 5:33
  Speaker 2: a lot of flexibility once you get the assets into
• 5:35
  Speaker 2: the ecosystem. It's all self directed. You can buy and
• 5:38
  Speaker 2: hold and sell. And I think the key is that
• 5:41
  Speaker 2: it's held with institutional you know cold storage providers off
• 5:45
  Speaker 2: balance sheet one to one very secure, battle tested cold
• 5:50
  Speaker 2: storage ecosystem, which is really critical.
• 5:53
  Speaker 1: That I think is going to be a trend. You
• 5:56
  Speaker 1: guys might be on the very front edge of what
• 5:58
  Speaker 1: we're going to see in the future, possibly within the
• 6:01
  Speaker 1: next eighteen months when you look at the regulatory framework
• 6:04
  Speaker 1: right now. Obviously the Genius Act just got passed or
• 6:07
  Speaker 1: will be passed here soon, but got through the Senate,
• 6:10
  Speaker 1: now back to the House for final approval. I know
• 6:12
  Speaker 1: you guys offer a lot of tools and learning opportunities
• 6:16
  Speaker 1: there for a brand new person, a company, an individual,
• 6:20
  Speaker 1: it's high net worth and they want to jump into it.
• 6:23
  Speaker 1: What kind of assets and things do you guys have
• 6:25
  Speaker 1: available to kind of help those new users onto the
• 6:28
  Speaker 1: I trust system.
• 6:30
  Speaker 2: Yeah, and so obviously we're not an investment advisor and
• 6:33
  Speaker 2: we don't make recommendations. We don't have a sales team
• 6:35
  Speaker 2: or pick commissions. But you know my disclosures, always do
• 6:39
  Speaker 2: your own research. But yeah, you know, look, we've got
• 6:42
  Speaker 2: the learning center that you've mentioned, We've got this very
• 6:45
  Speaker 2: secure ecosystem. We've gone out to third party administrators like
• 6:48
  Speaker 2: trust companies that have said our clients want access to crypto,
• 6:53
  Speaker 2: but we don't want to build the infrastructure, the dashboard
• 6:56
  Speaker 2: or have the service in place. Yeah, the nine thousand
• 7:00
  Speaker 2: five star ratings that we have from Google and trust Pilot,
• 7:03
  Speaker 2: you just can't fake that. You have to pick up
• 7:05
  Speaker 2: the phone with a smile in the US and answer questions.
• 7:09
  Speaker 2: Remove barriers for these investors that are participating in the
• 7:12
  Speaker 2: blockchain economy. So I have done a really good job of
• 7:15
  Speaker 2: onboarding third party administrators allowing their clients to participate in
• 7:19
  Speaker 2: the blockchain economy, not poaching them. We're giving them. We're
• 7:23
  Speaker 2: given them relevant right. These other trust companies, they know
• 7:26
  Speaker 2: they need to provide access at some point. The FDIC
• 7:29
  Speaker 2: is allowing banks to participate and support crypto companies. The
• 7:32
  Speaker 2: SEC is lowering the bar to participate. We've had the SEC,
• 7:36
  Speaker 2: Heester Purce at our office here. We've hosted her. She
• 7:39
  Speaker 2: was a keynote at my blockchain conference in twenty nineteen.
• 7:42
  Speaker 2: We have a great rapport. We're seeing Jeremy A Layer
• 7:46
  Speaker 2: and Brian Armstrong at Circle and Coinbase do a really
• 7:49
  Speaker 2: good job. From a lobby perspective, I just had a
• 7:51
  Speaker 2: lunch in New York with policy experts pushing the lobby through.
• 7:55
  Speaker 2: The Genius Act got through the Senate. We see that
• 7:57
  Speaker 2: going to the House. We think that'll pass. The banks
• 8:00
  Speaker 2: ironically got a lot of what they wanted with the
• 8:02
  Speaker 2: Genius Act and the stable Coin. So the banks got
• 8:05
  Speaker 2: a lot of what they asked for, and that is
• 8:08
  Speaker 2: going to open the door for, in my opinion, the
• 8:11
  Speaker 2: masses or smaller institutions that are going to want to
• 8:14
  Speaker 2: hold some digital assets like bitcoinn Ethereum, Salona, XRP, whatever
• 8:19
  Speaker 2: it is. It's all self directed on their balance sheet.
• 8:22
  Speaker 2: And we do that with very secure storage, very secure
• 8:26
  Speaker 2: custody in the US third party, you know, regulated institutions,
• 8:31
  Speaker 2: qualified custodians with a very secure access point. And we
• 8:35
  Speaker 2: do that with this five star service in the US.
• 8:38
  Speaker 2: And I'm not maligning other cultures. Other countries do a
• 8:40
  Speaker 2: great job, but our client base are typically forty to
• 8:44
  Speaker 2: sixty they're very cryptocurious, they're not experts, and they want
• 8:48
  Speaker 2: to speak with someone in the US about the challenges
• 8:52
  Speaker 2: they might be having to get into their account or
• 8:54
  Speaker 2: reset their password, or just talked about safety, security and
• 8:58
  Speaker 2: peace of mind and the ecosystem in general. That's what
• 9:00
  Speaker 2: we do. We do that out of our headquarters in Irvine, California,
• 9:04
  Speaker 2: here in southern California, and you know, we all know
• 9:06
  Speaker 2: about micro strategy holding you know bitcoin as a treasury,
• 9:09
  Speaker 2: and we've got pro Financial and Metaplanet, and you know,
• 9:16
  Speaker 2: we've got twenty one. We've got sharp Link just entered
• 9:20
  Speaker 2: the the you know, the ecosystem and holding eight on
• 9:24
  Speaker 2: balance sheet. We've got David Bailey at Bitcoin the Conference
• 9:28
  Speaker 2: who just launched his platform to hold you know bitcoin
• 9:31
  Speaker 2: and fund other companies doing it all getting a lot
• 9:34
  Speaker 2: of good traction. I think when the Genius Act goes
• 9:38
  Speaker 2: through on the house side, assuming we get the right
• 9:41
  Speaker 2: votes in support, I think we're going to see it
• 9:43
  Speaker 2: open up to the masses and more are going to
• 9:46
  Speaker 2: participate and feel like either fomo, I need to get
• 9:49
  Speaker 2: in or it feels safer and I want to participate.
• 9:53
  Speaker 2: Not box you know at the farm, but like participate
• 9:56
  Speaker 2: at some level. Some of them will manage their own
• 9:58
  Speaker 2: keys in crypto. We do a good job of that
• 10:02
  Speaker 2: with our key partners. We use Fidelity, we use coinbas Institutional,
• 10:05
  Speaker 2: and we use Fireblocks, battle tested large blue chip names
• 10:09
  Speaker 2: that do an excellent job on the security part of
• 10:12
  Speaker 2: the equation.
• 10:14
  Speaker 1: I was looking at you know, well, this is on
• 10:17
  Speaker 1: your website. Your assets are secure. You know, your assets,
• 10:19
  Speaker 1: not ours and one of the things you hit on
• 10:22
  Speaker 1: the institutional grade security and also custody fidelity mentioned in there,
• 10:27
  Speaker 1: wells fargo coinbas prime of course fireblocks. Here's my question
• 10:32
  Speaker 1: is when you look at what Chair Palell just said,
• 10:35
  Speaker 1: I think it was today or you know, it was
• 10:36
  Speaker 1: just today. He came out and said, hey, we're loosening
• 10:39
  Speaker 1: the guidelines on banks. They can do their own business.
• 10:42
  Speaker 1: Crypto is pretty much live and well now we're not
• 10:44
  Speaker 1: going to see that kind of pressure from banks pushing
• 10:47
  Speaker 1: away crypto opportunities. Are you at all concerned that banks
• 10:51
  Speaker 1: are going to try to come in and dilute this space,
• 10:55
  Speaker 1: especially in whether it's our a side, but definitely in
• 10:58
  Speaker 1: custody and also and treasury capital holding. What's your opinion
• 11:03
  Speaker 1: on that.
• 11:04
  Speaker 2: Yeah, I do think that the competition will increase as
• 11:09
  Speaker 2: barriers to entry get lowered, we get more clarity from
• 11:12
  Speaker 2: the regulatory perspective, we get a bit more guidance. We
• 11:17
  Speaker 2: see large companies going public and doing it in the
• 11:19
  Speaker 2: US with proper governance and a lot of transparency, and
• 11:23
  Speaker 2: that gives people safety, security and peace of mind. And
• 11:25
  Speaker 2: it feels like, yes, larger banks will participate at some point.
• 11:30
  Speaker 2: I think that right now, everyone's watching carefully on the sidelines.
• 11:35
  Speaker 2: I think over the next eighteen months, as we get
• 11:37
  Speaker 2: clarity from the Genius Act, including stable coins and a
• 11:42
  Speaker 2: bit more legislation and clarity from the SEC, I think
• 11:45
  Speaker 2: that you'll see broker dealers and banks jump into the equation.
• 11:49
  Speaker 2: I think we have some real clear leaders in the
• 11:52
  Speaker 2: space already. I think some will attempt to launch their
• 11:56
  Speaker 2: own stable coins, but yes, I think others will jump in. Look,
• 11:59
  Speaker 2: we're we're in this very niche category where we have
• 12:02
  Speaker 2: hundreds of thousands of individual retirement accounts and professional working
• 12:08
  Speaker 2: professionals across America that trust our brand, trust our service,
• 12:12
  Speaker 2: and trust the access and security we give them. That
• 12:16
  Speaker 2: is a really interesting demographic to serve. The retirement accounts
• 12:22
  Speaker 2: across America are worth thirteen trillion dollars. It's very sticky capital.
• 12:28
  Speaker 2: If you don't screw them, over lose their money for them,
• 12:31
  Speaker 2: overcharge them, you give them transparency and most importantly, safety
• 12:34
  Speaker 2: and security. It's very loyal capital. We don't charge any
• 12:39
  Speaker 2: ease to leave the platform. We don't limit the amount
• 12:42
  Speaker 2: you can take away. We're in the US, we charge
• 12:45
  Speaker 2: one percent when you buy or sell. It's all self directed.
• 12:49
  Speaker 2: It's all empty access with large, again battle tested partners
• 12:53
  Speaker 2: that have been there, done that. We could do more
• 12:56
  Speaker 2: of these things, but we like Wells Fargo managing our
• 13:00
  Speaker 2: clients' short term cash in US treasuries. We like coinbased
• 13:05
  Speaker 2: institutional and fidelity and Fireblocks with their platforms and the
• 13:10
  Speaker 2: customization we get to add additional layers internally within our
• 13:14
  Speaker 2: company to provide that security in those access points. We
• 13:18
  Speaker 2: really like that our qualified custodian that was granted our
• 13:20
  Speaker 2: charter this year. We could do more of that, but
• 13:23
  Speaker 2: that's not what we're good at. We're really excellent at
• 13:26
  Speaker 2: onboarding and servicing and providing the dashboard experience and working
• 13:30
  Speaker 2: with these amazing blue chip vendors to deliver what they
• 13:34
  Speaker 2: do best right. Do what you do best, hire others
• 13:36
  Speaker 2: to do the rest right, and that's sort of where
• 13:38
  Speaker 2: we've focused. I do believe the banks are watching carefully.
• 13:42
  Speaker 2: I believe they will start building or buying over the
• 13:45
  Speaker 2: next twelve to eighteen months once that regulatory at clarity happens.
• 13:49
  Speaker 2: We're sort of like a craft beer and if you're
• 13:51
  Speaker 2: Anheuser Busch, it's sometimes it's a little bit more difficult
• 13:54
  Speaker 2: to start this sort of craft beer cult like following
• 13:57
  Speaker 2: this authentic you know, from the ground up, gorilla roots
• 14:00
  Speaker 2: and one of the banks you may want to expedite
• 14:04
  Speaker 2: or accelerate or augment their access or mitigate risk associated
• 14:09
  Speaker 2: with building in the area. It took a long time,
• 14:14
  Speaker 2: you know. We started in twenty eighteen, launched in twenty nineteen,
• 14:19
  Speaker 2: and it took several years to get it right. There
• 14:22
  Speaker 2: are multiple vendors we work with on a daily basis,
• 14:26
  Speaker 2: and we are all holding each other accountable to do
• 14:29
  Speaker 2: the one or two things we all do really well right.
• 14:32
  Speaker 2: And it's important the banks thus far and broker dealers
• 14:36
  Speaker 2: either have not been allowed to participate because of FENRO
• 14:38
  Speaker 2: rules or now at the SEC and the FDIC lowering
• 14:43
  Speaker 2: the bar. Banks or more app to participate, but they
• 14:47
  Speaker 2: don't want to risk brand or reputation. They want to
• 14:51
  Speaker 2: do it carefully and they want to do it by
• 14:52
  Speaker 2: the book. And so I think they're going to build
• 14:54
  Speaker 2: and do or buy or start both over the next
• 14:57
  Speaker 2: six to twenty four month time frame.
• 14:59
  Speaker 1: Yeah, I think the question will be It's interesting too
• 15:02
  Speaker 1: because your demographic kind of hovers in the area where
• 15:05
  Speaker 1: they do trust banks. But you have this emerging demographic
• 15:10
  Speaker 1: in the under forty. We talk to a lot of those.
• 15:12
  Speaker 1: It's a big part of our audience that is starting
• 15:15
  Speaker 1: to look at neo banks alternatives DeFi as getting into
• 15:18
  Speaker 1: a big part of this. What are you guys doing
• 15:21
  Speaker 1: to attract those kinds of investors?
• 15:23
  Speaker 2: Yeah, good question. I mean we started off initially, as
• 15:25
  Speaker 2: I mentioned, you know, with a very niche category, focusing
• 15:28
  Speaker 2: on individuals that want to access the blockchain economy in
• 15:33
  Speaker 2: a self directed manner on a safe, secure platform through
• 15:37
  Speaker 2: their individual retirement accounts with those tax advantage. That's a
• 15:41
  Speaker 2: niche category. Now we talked about a big number. It's
• 15:43
  Speaker 2: worth thirteen trillion, and there's you know, tens of millions
• 15:46
  Speaker 2: of Americans that are saving, but you know, twenty to
• 15:49
  Speaker 2: fifty million are participating in the blockchain economy. I do
• 15:52
  Speaker 2: think that opens up further. We'll get more clarity and guidance,
• 15:55
  Speaker 2: and that's exciting on the other side of the equation
• 15:58
  Speaker 2: for the other end of dials that are participating outside
• 16:01
  Speaker 2: of a retirement account, because there's people that are fanatical
• 16:05
  Speaker 2: about crypto and curious about crypto wanting to participate even
• 16:09
  Speaker 2: outside of their IRA. So we've recently launched our premium
• 16:12
  Speaker 2: custody account, which is for individuals and businesses that want
• 16:17
  Speaker 2: to in a self directed manner access crypto. Again, we
• 16:20
  Speaker 2: don't have forty thousand tokens that choose from. We don't
• 16:23
  Speaker 2: even have five hundred some of the exchanges up three
• 16:25
  Speaker 2: fifty to five hundred. We've got eighty right right down
• 16:28
  Speaker 2: the middle of the fairway, generally top one hundred or
• 16:31
  Speaker 2: the top ten or fifteen sort of meme coins. We
• 16:34
  Speaker 2: always recommend that you do your own DA diligence and
• 16:36
  Speaker 2: figure out what sort of policy fits your investment, policy
• 16:39
  Speaker 2: fits your time horizon. Don't bet the farm, but that's
• 16:43
  Speaker 2: what we're doing for individuals that want to participate. The
• 16:47
  Speaker 2: dirty secret is you get access to cold storage institutional
• 16:54
  Speaker 2: asset storage for your crypto basically for free through ISOs
• 16:58
  Speaker 2: count Yeah right, really in kind transfer in and sit there,
• 17:04
  Speaker 2: buy and hold or in kind transfer into your premium
• 17:07
  Speaker 2: custody account and just sit there and only pay our
• 17:10
  Speaker 2: one percent exit fee when you get out and have
• 17:13
  Speaker 2: access to free institutional cold storage, which is really held
• 17:17
  Speaker 2: off balance sheet one to one with they're qualified. Could
• 17:19
  Speaker 2: still do right that I know of. You can't get
• 17:22
  Speaker 2: that as an individual directly on some of these exchanges.
• 17:26
  Speaker 2: The one of the reasons I was one of the
• 17:28
  Speaker 2: first to transfer assets over here. I've been I've been hacked,
• 17:33
  Speaker 2: I've been compromised to other executives that our company have
• 17:37
  Speaker 2: as well. It's not fun. It took them five minutes
• 17:39
  Speaker 2: to take over my identity and my bank accounts and
• 17:41
  Speaker 2: my crypto accounts, and it took me two days to
• 17:44
  Speaker 2: get my stuff back with IDs and certificates and passports.
• 17:49
  Speaker 2: It's it's a backwards system. There are many people. We
• 17:53
  Speaker 2: get weekly calls from clients, either a bad actor in
• 17:57
  Speaker 2: the family that got greedy, or a bad actor that
• 18:01
  Speaker 2: was nice enough to help missus Jones reset her password
• 18:04
  Speaker 2: that came in through her Yahoo or MSN or Google
• 18:07
  Speaker 2: account and the person sounded really nice and they gave
• 18:11
  Speaker 2: up information. It happens weekly. Now what I trust capital.
• 18:16
  Speaker 2: If you get lazy at Starbucks, walk away from your laptop,
• 18:18
  Speaker 2: someone gets in. They can buy or sell more bitcoin
• 18:22
  Speaker 2: or crypto for you or Ethereum Salona XRP. But it
• 18:26
  Speaker 2: cannot leave the platform and they literally cannot send it
• 18:31
  Speaker 2: to a bad actor Belarus or anywhere around the world.
• 18:36
  Speaker 2: It can't physically be sent out. You can't wire the
• 18:39
  Speaker 2: money out, and it can't be sent out to a
• 18:42
  Speaker 2: wallet that some bad actor connects on his own. Now
• 18:44
  Speaker 2: we can work with you and go through multiple steps
• 18:47
  Speaker 2: and ask security questions to set up whitelisted and approved
• 18:51
  Speaker 2: wallets that we send micro tests to and approve to
• 18:54
  Speaker 2: get assets coming in. But you cannot connect going out,
• 18:59
  Speaker 2: and that's by design. It's a safety feature that prevents
• 19:03
  Speaker 2: anybody that gets lazy or gets compromise at iris capital
• 19:06
  Speaker 2: in their account. The money, the cash and or crypto
• 19:09
  Speaker 2: cannot leave physically, can't be connected externally, and that's sort
• 19:14
  Speaker 2: of how we define the closed loop system that I
• 19:16
  Speaker 2: think is starting to resonate with the masses, whether you're
• 19:19
  Speaker 2: on the large exchanges. I have a you know, crypto
• 19:22
  Speaker 2: at different exchanges, and every day I do wake up
• 19:26
  Speaker 2: thinking someone could literally get into my kick what happens
• 19:30
  Speaker 2: platform and it's one way out to Timbuctoo. I cannot
• 19:33
  Speaker 2: get it back with I just capital stays in that
• 19:37
  Speaker 2: dome in that closed loop system.
• 19:38
  Speaker 1: Let me ask you about some of the more advanced
• 19:40
  Speaker 1: features that are out there in the market that are
• 19:43
  Speaker 1: starting to percolate. And now I imagine we're going to
• 19:45
  Speaker 1: see a lot of interest in these areas. You could
• 19:48
  Speaker 1: get into digital asset lending. I'm thinking that, you know,
• 19:51
  Speaker 1: we've got bitcoin lending starting to happen in the market.
• 19:54
  Speaker 1: Then you look at staking opportunities, and then you look
• 19:57
  Speaker 1: at just yield, you know, generation, any plan to deal
• 20:00
  Speaker 1: with those more advanced features in your platform in the future.
• 20:05
  Speaker 2: All three, all three in process. Staking going live in
• 20:08
  Speaker 2: a week or two. Really excited about that. Terms of condition,
• 20:12
  Speaker 2: terms of service you're getting updated as we speak, that'll
• 20:14
  Speaker 2: be within a week or two. Staking is happening. We're excited.
• 20:17
  Speaker 2: It's by the book, and we picked an excellent partner
• 20:21
  Speaker 2: that we feel as leading in transparency and compliance. So
• 20:25
  Speaker 2: I feel really good about that yield. We can't pay
• 20:28
  Speaker 2: out yield from these products, but we can get rewards
• 20:34
  Speaker 2: and offer rewards for allowing clients to opt in and participate.
• 20:40
  Speaker 2: That is happening. Conversations are happening. Happened even this morning
• 20:44
  Speaker 2: with two large partners about generating some rewards based on
• 20:50
  Speaker 2: some activity or holdings. Part of the Genius Act allows
• 20:54
  Speaker 2: the issuers to generate the obviously the stable coin. They
• 21:00
  Speaker 2: can have the dollars that are backing the stable coins
• 21:04
  Speaker 2: one to one managed, they can keep that revenue, but
• 21:09
  Speaker 2: some of that can be rep shared and paid out
• 21:11
  Speaker 2: and then passed on in the form of awards for
• 21:14
  Speaker 2: being a member of my website for example, sort of
• 21:17
  Speaker 2: like what coinbase does and or like a credit card.
• 21:20
  Speaker 2: So that is in We're in discussions about how to
• 21:25
  Speaker 2: what assets and how to generate properly legally with compliance
• 21:29
  Speaker 2: and transparency in place yield because we know that's demand.
• 21:32
  Speaker 2: Lending is a very big thing. We're talking to two
• 21:35
  Speaker 2: different groups on lending for individuals that want to pledge
• 21:38
  Speaker 2: their bitcoin immediately get access to us DC and put
• 21:42
  Speaker 2: that to work, whether they need to redo their kitchen
• 21:44
  Speaker 2: or get a new automobile or pay for kids schooling.
• 21:48
  Speaker 2: So those are happening. Credit Cards is another idea that
• 21:52
  Speaker 2: is on the plate. We've got big deals happening with
• 21:55
  Speaker 2: MasterCard and ms in the marketplace. We've read about in
• 21:58
  Speaker 2: the news today this morning with MasterCard with another company,
• 22:02
  Speaker 2: and Coinbase obviously, and announcement they made with mx uh.
• 22:06
  Speaker 2: Those are all on the table. One is launching in
• 22:08
  Speaker 2: a week or two. The other three are in play.
• 22:11
  Speaker 2: It's where you need to be. You've just got to
• 22:13
  Speaker 2: offer these products for people to be in the game
• 22:16
  Speaker 2: and give them different ways to either generate some rewards
• 22:20
  Speaker 2: or or yield, you know, steak and get some additional
• 22:24
  Speaker 2: income on those products. And uh, and and the lending.
• 22:28
  Speaker 2: I don't want to lose my basis. I want to
• 22:29
  Speaker 2: keep my bitcoin. I want to ride the upside in
• 22:32
  Speaker 2: case there is upside, but I need some liquority short term,
• 22:35
  Speaker 2: and so I want the access there for sure.
• 22:38
  Speaker 1: Well, okay, I'm looking at your list of tokens. Obvious
• 22:41
  Speaker 1: Bitcoin ethereum most likely leading the way in terms of activity.
• 22:45
  Speaker 1: You got XRP in their salana. When you look at
• 22:48
  Speaker 1: the tokens right now, what's the top ones? What are
• 22:50
  Speaker 1: people trading and holding the most, you know, outside of bitcoin?
• 22:54
  Speaker 1: And eight because we know those are the big ones.
• 22:57
  Speaker 2: Yeah, surprisingly Uh. You know, there is a very strong
• 23:01
  Speaker 2: XRP army out there and they are fanatical and the
• 23:05
  Speaker 2: potential for XRP. We speak to Ripple often. We think
• 23:11
  Speaker 2: they're amazing and sharp people. They have some innovative products
• 23:14
  Speaker 2: coming down the pipeline. We'd love to work with them
• 23:18
  Speaker 2: at some level to allow the XRP army. These fanatics
• 23:23
  Speaker 2: that really are excited about the potential to do more
• 23:27
  Speaker 2: with their XRP, so that's a big one. We see
• 23:30
  Speaker 2: a lot of interest and uptick in smaller ones like Sui,
• 23:34
  Speaker 2: s Ui and Hondo. Obviously, Solana is a big asset
• 23:41
  Speaker 2: and eth is surprisingly been a dormant for a little bit.
• 23:45
  Speaker 2: But we see a bit of activity picking up in
• 23:48
  Speaker 2: Ether there. These are not recommendations. I'm simply at sort
• 23:52
  Speaker 2: of activity based on.
• 23:53
  Speaker 1: Well, yeah, you guys, yeah, you guys get a chance
• 23:56
  Speaker 1: to see what's happening behind the doors in terms of
• 23:59
  Speaker 1: where they are.
• 23:59
  Speaker 2: We have two hundred thousand people that signed up or accounts,
• 24:04
  Speaker 2: and we've got you know, seventy five thousand that funded
• 24:07
  Speaker 2: accounts with six billion dollars. And these people, many of
• 24:12
  Speaker 2: them do not buy it, set it, forget it. I mean,
• 24:14
  Speaker 2: they are actively moving and participating in the in the
• 24:18
  Speaker 2: digital asset arena. And so we see a lot of
• 24:21
  Speaker 2: activity and trends based on news or insights and that
• 24:26
  Speaker 2: are sort of happening. So the trends are interesting, but yeah,
• 24:29
  Speaker 2: those are some of the ones that come to mind.
• 24:30
  Speaker 2: There's also a lot of activity in these you know,
• 24:32
  Speaker 2: smaller mean coins that we don't obviously make recommendations. Around,
• 24:37
  Speaker 2: but we look at the trends, we look at what
• 24:39
  Speaker 2: people are asking to participate in, and there's been some
• 24:43
  Speaker 2: upside in some of these as well.
• 24:45
  Speaker 1: Kevin, I mean you look at someone like a Robinhood
• 24:49
  Speaker 1: and even if you look at what's happening over on
• 24:51
  Speaker 1: trading view, there are some metrics that are available to
• 24:55
  Speaker 1: you as a trader. Are you guys planning any kind
• 24:58
  Speaker 1: of data or insights that could you know, somewhat normalize
• 25:02
  Speaker 1: the data that you have, not sharing any information, but
• 25:05
  Speaker 1: like certain trends that could percolate within the I Trust
• 25:09
  Speaker 1: ecosystem where maybe traders and holders could act on it.
• 25:13
  Speaker 2: Yeah, that's a really interesting concept that we've kicked around
• 25:16
  Speaker 2: for a while. We have access to incredible data from
• 25:20
  Speaker 2: retirement you know, working professionals from the retirement to participation
• 25:25
  Speaker 2: arena to individuals and onboarding non retirement accounts, which is
• 25:29
  Speaker 2: really blown up in the last few weeks since we
• 25:32
  Speaker 2: offered and announced in kind, you know, transfers of crypto
• 25:36
  Speaker 2: directly into your I Trust capital cold storage facility that
• 25:41
  Speaker 2: we have in place. That has really blown up in
• 25:44
  Speaker 2: a positive way. And we really haven't put a lot
• 25:47
  Speaker 2: of marketing or and just scratching the surface with our
• 25:50
  Speaker 2: you know, sort of influencers talking about that. It is
• 25:54
  Speaker 2: something that at some point we would like to share
• 25:56
  Speaker 2: anecdotally some data and metrics and data points. Not for
• 26:00
  Speaker 2: decision making. We're talking to groups about implementing AI and
• 26:05
  Speaker 2: leveraging trends and data to give people just better access
• 26:08
  Speaker 2: to information and tools and resources to make better decisions
• 26:12
  Speaker 2: around their investments. Since we don't get involved with that,
• 26:16
  Speaker 2: but there's a lot of data that we eventually might
• 26:19
  Speaker 2: want to package and share just so people can have
• 26:22
  Speaker 2: a reference point on the table.
• 26:25
  Speaker 1: Yeah, for sure, listen to you guys. We've also had
• 26:28
  Speaker 1: irons at the fire.
• 26:30
  Speaker 2: A lot of irons at the fire. We built. Look,
• 26:33
  Speaker 2: we stayed narrowly focused with our IRA retirement accounts, that
• 26:38
  Speaker 2: niche category we carved out that no one was paying to.
• 26:41
  Speaker 2: That really took a couple of years to get going.
• 26:44
  Speaker 2: We ended up doing really well, becoming a leader in
• 26:47
  Speaker 2: that category and servicing them well, not overcharging, and giving
• 26:51
  Speaker 2: a lot of transparency and security. It's with our key podcast.
• 26:53
  Speaker 2: So we added thank you very much for having us.
• 26:57
  Speaker 1: Yep, you bet, thanks for again for coming in. We
• 26:59
  Speaker 1: appreciate it.
• 27:01
  Speaker 2: Yeah, thank you excellent.
• 27:03
  Speaker 1: All right, guys. We'll break down more on I Trust too,
• 27:06
  Speaker 1: because they have a lot of these new services as
• 27:08
  Speaker 1: we start to cover this, and mainly because it is
• 27:11
  Speaker 1: starting to hit on a lot of the milestones in
• 27:14
  Speaker 1: the industry, big key things that are happening on the
• 27:16
  Speaker 1: regular story side, So stay tuned for all that good stuff.
• 27:18
  Speaker 1: If you're not in our diamond circle, get in on that.
• 27:20
  Speaker 1: It's our own private group that's out there and it's
• 27:23
  Speaker 1: absolutely free. You can get additional content research from us,
• 27:26
  Speaker 1: and of course follow me out there on x at
• 27:28
  Speaker 1: Paul Barrett. We'll catch you next time right here on
• 27:30
  Speaker 1: tech Path