Latest / The Paul Barron Crypto Show / XRP Dex is Tokenizing Stocks on SoloTex?🔥Sologenic CEO INTERVIEW

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XRP Dex is Tokenizing Stocks on SoloTex?🔥Sologenic CEO INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's get into token is stocks today and what that
• 0:02
  Speaker 1: might look like across the industry. You don't want to
• 0:04
  Speaker 1: miss it. Let's just jump right in. I want to
• 0:07
  Speaker 1: jump over to Sologenic decks. If you guys have not
• 0:10
  Speaker 1: seen this one before, this is a dex on XRP
• 0:14
  Speaker 1: or an XRP decks. This is going to be regulated
• 0:18
  Speaker 1: as well. So there's quite a bit happening. So we thought, hey,
• 0:21
  Speaker 1: let's get the experts in on the show to talk
• 0:24
  Speaker 1: about this and a new partnership. So I want to
• 0:27
  Speaker 1: welcome in CEO Mike McClusky, who is coming from Sologenic,
• 0:30
  Speaker 1: and of course Texture CEO Richard Johnson. Great to have
• 0:33
  Speaker 1: you guys.
• 0:34
  Speaker 2: Great be here, Thank you, Paul.
• 0:35
  Speaker 3: Perfect.
• 0:36
  Speaker 1: So let's get into a little bit about what's happening
• 0:39
  Speaker 1: with the newly formed Solo Techs. Maybe Mike you can
• 0:44
  Speaker 1: kind of start it. What have you guys created here?
• 0:47
  Speaker 2: Yeah, so thanks again, Paul. Great to be here. Mike
• 0:50
  Speaker 2: McCluskey and the CEO of Sologenic. We are a digital
• 0:54
  Speaker 2: asset ecosystem built on XRPL. We're actually the largest decks
• 0:58
  Speaker 2: on XRP. We have a wallet, we have a bridge
• 1:01
  Speaker 2: to the Cosmos ecosystem, and we also have our own
• 1:05
  Speaker 2: layer one called Korium, which is specifically designed for tokenization
• 1:09
  Speaker 2: of real world assets. Richard and Textra Capital and Sologenic
• 1:14
  Speaker 2: have been partnered for about a year now and we
• 1:17
  Speaker 2: are launching stock tokenization and trading in the US. So
• 1:22
  Speaker 2: really excited to be here, and yeah, looking forward to
• 1:24
  Speaker 2: the conversations.
• 1:26
  Speaker 1: So, Richard, when you and Mike got together here, I
• 1:30
  Speaker 1: mean first of all token I stocks.
• 1:31
  Speaker 3: This is a huge thing right now.
• 1:32
  Speaker 1: We are seeing explosions happening in the market around this.
• 1:37
  Speaker 1: Larry Fink is going at every conference talking about how
• 1:40
  Speaker 1: this is going to shift the financial world. Richard, when
• 1:44
  Speaker 1: you looked at the potential here of what you guys
• 1:46
  Speaker 1: were doing at Texture, why Sologenic as a partner?
• 1:49
  Speaker 4: So yeah, text has been around. Text Capital is a
• 1:52
  Speaker 4: sec finer regular Brokeerdala. We got into space pretty early.
• 1:55
  Speaker 4: We've been around about five years now. We are one
• 1:57
  Speaker 4: hundred percent focus on tokenization. We help clients raise capitalthor
• 2:00
  Speaker 4: security token offerings. We have an ATS for secondary trading,
• 2:03
  Speaker 4: and we've been focused in private markets pretty much exclusively.
• 2:07
  Speaker 4: It's a lot easier to do things in private markets
• 2:09
  Speaker 4: as I think that's a lot of how a lot
• 2:10
  Speaker 4: of other folks started as well. Actually, the idea for
• 2:14
  Speaker 4: token is stocks or using public equities and tokenization came
• 2:18
  Speaker 4: from Mike and Sologenic. So they came to us, Like
• 2:21
  Speaker 4: I said, me and Mike and I'm better in an
• 2:23
  Speaker 4: industry event, we got chatting. It was their idea and
• 2:26
  Speaker 4: we kind of collaborated around that, and back in February
• 2:31
  Speaker 4: we file paperwork with FINRA to get a to get
• 2:35
  Speaker 4: approvals for retail stock trading, which we we we and
• 2:39
  Speaker 4: we came out the other side at the end of
• 2:41
  Speaker 4: August or the beginning of September, I should say, And
• 2:44
  Speaker 4: now we're on the road to launching launching solo techs.
• 2:48
  Speaker 3: So when is this going to go live? What's the date?
• 2:50
  Speaker 4: Right now, we are planning for a soft launch before
• 2:53
  Speaker 4: the end of the year.
• 2:54
  Speaker 1: And oh wow, okay, so you're ready to go, Mike,
• 2:57
  Speaker 1: Is this going to require I mean, because dex is
• 3:00
  Speaker 1: no KYC for the most part, is this going to
• 3:03
  Speaker 1: require KYC?
• 3:04
  Speaker 3: It is?
• 3:05
  Speaker 2: So you know, the best way to think about this
• 3:07
  Speaker 2: is where we're basically bringing trad fy to the cryptonative users.
• 3:11
  Speaker 2: But we're not reinventing the wheel with traditional finance just yet,
• 3:16
  Speaker 2: we believe that cryptonative users are looking for a way
• 3:19
  Speaker 2: to invest in stocks and diversified investments, so we're we're
• 3:25
  Speaker 2: kind of moving the ball down the field, per se.
• 3:29
  Speaker 2: But yes, there will be KYC and they'll still go
• 3:32
  Speaker 2: through traditional rails in some respects.
• 3:35
  Speaker 1: I'm looking at your website here and it's got markets pause.
• 3:39
  Speaker 1: You don't have to, but this says twenty four to
• 3:41
  Speaker 1: five trading, so not going twenty four to seven?
• 3:46
  Speaker 3: Why is that? Guys? What's going on here?
• 3:48
  Speaker 4: So we want to go twenty four to seven, but
• 3:53
  Speaker 4: that's just not possible right now. So what happens is
• 3:56
  Speaker 4: when people you trade on Sodo Techs for our stock
• 3:59
  Speaker 4: Tokens product, we'll be accessing traditional financial rails, so that
• 4:03
  Speaker 4: I think, so that contrasts with some of the other
• 4:06
  Speaker 4: models out there which are kind of SPVs or OTC derivatives,
• 4:11
  Speaker 4: and we can kind of get into, you know, some
• 4:12
  Speaker 4: of the other differentiators that but essentially we're using traditional
• 4:15
  Speaker 4: rails so that gives people better liquidity that actually own
• 4:18
  Speaker 4: the underlying security. But we also have to stick to
• 4:21
  Speaker 4: what is avail are the available market hours now, and
• 4:24
  Speaker 4: that is only the twenty four to five I'd love
• 4:26
  Speaker 4: to see twenty four to seven trading come in.
• 4:28
  Speaker 5: I mean, a big part of what we're doing is
• 4:30
  Speaker 5: tiding the Web.
• 4:31
  Speaker 4: Three community, bringing in other features like stable coin funding,
• 4:35
  Speaker 4: twenty four to five trading, and get as close to
• 4:37
  Speaker 4: the crypto markets as we can, and of course they
• 4:39
  Speaker 4: can hold those tokens in their wallets.
• 4:41
  Speaker 1: I think it's coming fast because I know the CEO
• 4:44
  Speaker 1: of NASDAC, she's she's been on record a couple of
• 4:46
  Speaker 1: times trying to address this.
• 4:48
  Speaker 3: They haven't.
• 4:48
  Speaker 1: It's kind of been the kicking and screaming thing coming along.
• 4:52
  Speaker 1: Not necessarily ready, but they know they're going to have
• 4:55
  Speaker 1: to do it to be able to compete with the
• 4:56
  Speaker 1: open markets that we're seeing out there. So that'll be
• 5:00
  Speaker 1: good to go. Let's talk about the idea of yield
• 5:03
  Speaker 1: on stable coins. So we're seeing this in traditional brokerages
• 5:06
  Speaker 1: and exchanges where they're parking, you know, all sorts of
• 5:09
  Speaker 1: stable coins where you can get yield, then you can
• 5:12
  Speaker 1: go into DeFi that's a competitive landscape itself.
• 5:17
  Speaker 3: How does this play out, Mike? Will this work with
• 5:20
  Speaker 3: you guys eventually?
• 5:21
  Speaker 2: Yes? So I think to Richard's point, this is sort
• 5:25
  Speaker 2: of phase one, but phase two we are looking for
• 5:27
  Speaker 2: more DeFi capabilities yield on some of these assets. Right now,
• 5:32
  Speaker 2: there's you know, three hundred billion dollars sitting in stable coins,
• 5:36
  Speaker 2: and we see an opportunity where investors want to diversify.
• 5:39
  Speaker 2: Quite honestly, for myself, I'd like to take some of
• 5:42
  Speaker 2: the stable coins that I have and invest in an
• 5:45
  Speaker 2: S and P fund and you know, average ten percent
• 5:48
  Speaker 2: a year. So there's a lot of talk around the
• 5:51
  Speaker 2: DeFi capabilities and yield, but my opinion is people are
• 5:55
  Speaker 2: looking for, you know, a way to diversify right now,
• 5:58
  Speaker 2: and stocks and tradition investments as the way to do that.
• 6:01
  Speaker 1: Okay, all right, so you're telling me that's coming, which
• 6:05
  Speaker 1: I think we're going to see most traditional organizations out
• 6:08
  Speaker 1: there start to accommodate to what's happening just in general
• 6:11
  Speaker 1: in the market, just to stay ahead of where these
• 6:14
  Speaker 1: trends are going.
• 6:15
  Speaker 3: I'm talking.
• 6:16
  Speaker 1: I was looking at your website and in reference because
• 6:18
  Speaker 1: it's it's talking about not necessarily having to have a
• 6:22
  Speaker 1: bank explain to me how and I guess what off
• 6:27
  Speaker 1: ramp you're using. Would I be able to buy stable
• 6:29
  Speaker 1: coins without a bank. How would I do this?
• 6:32
  Speaker 4: So, and this kind of goes back to your KYS
• 6:35
  Speaker 4: question earlier, let me clarify how this work.
• 6:36
  Speaker 5: So customers will open an accountra texture.
• 6:39
  Speaker 4: It is a permission system, So open accountra text, you
• 6:41
  Speaker 4: will do KYC on them and we'll do suitability analysis
• 6:44
  Speaker 4: and so forth. Okay, and they'll be introduced to our
• 6:46
  Speaker 4: clearing broker where who are They will also open an account,
• 6:49
  Speaker 4: so the clearing broker will ultimately hold any cash and
• 6:53
  Speaker 4: stable coins, but they'll be able to fund that account
• 6:56
  Speaker 4: with USDC or potentially other stable coins. So that's what
• 7:01
  Speaker 4: we mean by that that you know, you don't have
• 7:03
  Speaker 4: to go okay if you use y I transfer. You
• 7:06
  Speaker 4: know what a nightmare that is and how companies it is.
• 7:08
  Speaker 4: People these days, especially web free community, they just want
• 7:11
  Speaker 4: to scan a QR code, he go and send and
• 7:13
  Speaker 4: send in their USDC with our partnership with our clearing broker,
• 7:16
  Speaker 4: that will then be available in their trading account within minutes.
• 7:20
  Speaker 4: So again we want to have that same kind of retail,
• 7:23
  Speaker 4: real time feeling that the Web three community is used
• 7:26
  Speaker 4: to and then they be able to start trading and
• 7:27
  Speaker 4: buying Microsoft TESTL or whatever it is.
• 7:30
  Speaker 1: All right, So Richard, what you're talking about is this
• 7:32
  Speaker 1: would require somebody to have an exchange account or a
• 7:34
  Speaker 1: wallet you know of some sort where USDC is living,
• 7:38
  Speaker 1: and then uh, they whether that's KYC or non KYC,
• 7:41
  Speaker 1: doesn't matter, they'd.
• 7:42
  Speaker 3: Be able to just use this.
• 7:43
  Speaker 1: It's just a wallet destination over within the brokerage side
• 7:47
  Speaker 1: of things here.
• 7:48
  Speaker 3: Is that correct?
• 7:49
  Speaker 4: Yeah, we're assuming we're talking to people who are natively
• 7:51
  Speaker 4: on chain.
• 7:52
  Speaker 5: They already have USDC.
• 7:54
  Speaker 4: If they have to go and get USDC, then they're
• 7:56
  Speaker 4: probably not the right target market for us Okay.
• 7:58
  Speaker 1: All right, So not going after trad I guess trad
• 8:02
  Speaker 1: FI investors who are typically on robin hood or are
• 8:05
  Speaker 1: plugging in their bank via plaid or something of that
• 8:07
  Speaker 1: nature where it ties into it.
• 8:10
  Speaker 5: Okay, you want to stay on chain, that's where that's
• 8:13
  Speaker 5: who we're going after here.
• 8:14
  Speaker 1: All right, Well that's clear, then you've got a good
• 8:16
  Speaker 1: target market for that. Beyond that, I mean, because that
• 8:20
  Speaker 1: that definitely is an issue. What about like withdraw limits,
• 8:23
  Speaker 1: because this is a problem that we see with other
• 8:25
  Speaker 1: exchanges today. I won't mention names, but there's a handful
• 8:28
  Speaker 1: amount there that have daily withdraw limits what about with
• 8:31
  Speaker 1: you guys.
• 8:33
  Speaker 5: So that's something we're still working through.
• 8:36
  Speaker 4: You know, obviously it's the customer's money. We wanted to
• 8:39
  Speaker 4: be able to have access to it as quickly as possible.
• 8:41
  Speaker 4: Then maybe, you know, when it comes to deciding what
• 8:43
  Speaker 4: withdrawal limit is, they're going to be looking at, you know,
• 8:46
  Speaker 4: what trades are. Don't have the trades actually settled because
• 8:48
  Speaker 4: because still right us stop on a team plus on basis,
• 8:51
  Speaker 4: so you may sell it today, but the funds haven't
• 8:54
  Speaker 4: actually settled until tomorrow, so that may be a limitation.
• 8:57
  Speaker 4: So I can't give a direct answer on that. But obviously, okay,
• 8:59
  Speaker 4: it's the US as money.
• 9:01
  Speaker 1: Yeah, I'm getting I'm sure fear of course if we're
• 9:04
  Speaker 1: talking about settlement, but I'm talking about we've got all
• 9:07
  Speaker 1: things settled, done that, and I've you know, I did
• 9:09
  Speaker 1: one hundred thousand dollars trade. Can I move it one
• 9:11
  Speaker 1: hundred thousand dollars out if that's settled or do I
• 9:14
  Speaker 1: have you know, because some of these exchanges, it's like
• 9:16
  Speaker 1: five thousand dollars a day in crypto that you can
• 9:19
  Speaker 1: move at a time. So that's a problem I think
• 9:22
  Speaker 1: for a lot of people right now.
• 9:24
  Speaker 3: Would that be addressed with you guys.
• 9:26
  Speaker 4: Yeah, I mean that's going to be something that we
• 9:29
  Speaker 4: decide with our clearing broker. So but like I said,
• 9:33
  Speaker 4: I can't give you an answer right now on that,
• 9:34
  Speaker 4: but I think I understand exactly what you're saying.
• 9:36
  Speaker 5: We wouldn't want to keep people away from their money.
• 9:39
  Speaker 1: Well, and you're the key is if you're going crypto native,
• 9:43
  Speaker 1: this is going into most likely a sale into USDC,
• 9:46
  Speaker 1: which is you know, that's that's fuel baby.
• 9:50
  Speaker 3: You know, people got to go out and do trades.
• 9:52
  Speaker 1: You know they're wanting to move that USDC around and
• 9:55
  Speaker 1: get into some defire. Yeah, exactly, So I understand. Hey, everyone,
• 10:00
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• 10:09
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• 10:11
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• 10:14
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• 10:16
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• 10:19
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• 10:23
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• 10:30
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• 10:33
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• 10:37
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• 10:40
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• 10:42
  Speaker 1: really sets this stuff off. Now, one of the things
• 10:45
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• 10:47
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• 10:50
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• 10:53
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• 11:03
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• 11:07
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• 11:11
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• 11:14
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• 11:18
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• 11:20
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• 11:24
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• 11:26
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• 11:29
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• 11:34
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• 11:36
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• 11:40
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• 11:43
  Speaker 1: the link down in the description. All right, what about
• 11:46
  Speaker 1: how does Sologenic the decks side of it? If you
• 11:50
  Speaker 1: go over to the decks, let me pull it back
• 11:51
  Speaker 1: up here. If you go to the deck side of things,
• 11:54
  Speaker 1: does this plug into Solo decks or is this going
• 12:01
  Speaker 1: to be merged? How is this going to work between
• 12:03
  Speaker 1: the two products?
• 12:04
  Speaker 2: Well, so not yet, is the short answer. We are
• 12:08
  Speaker 2: exploring how this could plug into Solo techs eventually, but
• 12:12
  Speaker 2: as of right now, no, it's not going to be connected.
• 12:15
  Speaker 2: It's sort of a standalone product and solution. We wanted
• 12:18
  Speaker 2: to make sure that we're doing this as compliant as
• 12:21
  Speaker 2: possible within the US regulatory environment, and so the Sologenic
• 12:26
  Speaker 2: decks right now will not be plugged in, but it
• 12:28
  Speaker 2: is absolutely something we're exploring. And stock tokenization, in my opinion,
• 12:34
  Speaker 2: and I'm sure Richard two is really just the beginning
• 12:38
  Speaker 2: of tokenization. We see the opportunity for all real world
• 12:41
  Speaker 2: outsets being tokenized, and the infrastructure that we've built with
• 12:45
  Speaker 2: Sologenic and our Layer one Quorium, we believe is going
• 12:48
  Speaker 2: to power the next generation of traditional finance in general.
• 12:54
  Speaker 2: And so yes, the Sologenic decks. I think at some
• 12:57
  Speaker 2: point will have a plugin of s for Solo Texts,
• 13:01
  Speaker 2: but phase one not yet.
• 13:03
  Speaker 1: Okay, Unfortunately, any plans for a wallet or anything like
• 13:07
  Speaker 1: that coming down the pipeline.
• 13:09
  Speaker 4: Solo tex is a web application and also be a
• 13:11
  Speaker 4: mobile application.
• 13:12
  Speaker 5: We're getting that in the Apple.
• 13:13
  Speaker 4: Store and the and the play Store right now. Also,
• 13:17
  Speaker 4: the stock tokens can be held in users self sovereign
• 13:20
  Speaker 4: wallets as well, alongside their existing crypt holdings. And I
• 13:25
  Speaker 4: know that Solo I mean, this is unrelated, but I
• 13:26
  Speaker 4: know that Sologenicals has a wallet product as well.
• 13:29
  Speaker 1: So that's my point is being able to converge those
• 13:32
  Speaker 1: at some point. But you're saying right now this is
• 13:34
  Speaker 1: probably gonna stand ale.
• 13:35
  Speaker 5: We've got a lot.
• 13:35
  Speaker 4: I mean, yeah, So Sologenic has you know, a whole
• 13:39
  Speaker 4: set of with separate companies. Solo Techs is a is
• 13:42
  Speaker 4: a joint product we're developing. Sologenic has a bunch of
• 13:45
  Speaker 4: other products on the side. So do we we have
• 13:47
  Speaker 4: other kind of private RWA assets we're tokenizing. Eventually we
• 13:51
  Speaker 4: would like to kind of have seamless integrations between all
• 13:53
  Speaker 4: these things. But Stage one is Solo Techs, which is
• 13:56
  Speaker 4: a brand new, brand new offering.
• 13:58
  Speaker 1: So, Richard, will this work like some other token I
• 14:01
  Speaker 1: especially if you think, I know, this is different than
• 14:04
  Speaker 1: X stocks or something like that. But would you be
• 14:07
  Speaker 1: able to utilize solo text to be able to get
• 14:10
  Speaker 1: your stocks and maybe use them and DeFi or something
• 14:14
  Speaker 1: of that nature, actually transport them out of solo texts
• 14:18
  Speaker 1: into another wallet?
• 14:19
  Speaker 4: Yeah not at this point. No, that that is something
• 14:22
  Speaker 4: we want. So there's two paths forward for that type
• 14:24
  Speaker 4: of product. We need to have the SEC change certain rules,
• 14:29
  Speaker 4: which you know, we have a very friendly commissioner over
• 14:31
  Speaker 4: there now, crypto friendly, very forward thinking, so that's possible.
• 14:34
  Speaker 4: There's potential for exemptive relief or some kind of no
• 14:37
  Speaker 4: action there. Or we could follow the model that these
• 14:40
  Speaker 4: other folks have done. And the reason they're able to
• 14:41
  Speaker 4: do that is they've gone offshore outside the US jewarisdiction
• 14:45
  Speaker 4: to do that. However, that brings in and yeah, I
• 14:48
  Speaker 4: understand you can then take a tokenized tesla and use
• 14:51
  Speaker 4: it in a in a lending protocol or something like that.
• 14:53
  Speaker 4: But the thing is you don't own you don't actually
• 14:55
  Speaker 4: own your lying stock. Yeah, exactly, you have your accounter
• 14:59
  Speaker 4: party risk with whoever The SPV issue is whoever the
• 15:03
  Speaker 4: Sometimes it's structures as an OTC derivative and you have
• 15:05
  Speaker 4: a lot less liquidity as well, so.
• 15:07
  Speaker 5: It's a bit of a trade off.
• 15:08
  Speaker 4: But we are we are exploring that down the road,
• 15:10
  Speaker 4: and that might be for an off show model. That
• 15:13
  Speaker 4: might be where might the Sebtanic text comes in.
• 15:15
  Speaker 3: It's interesting.
• 15:15
  Speaker 1: Okay, all right, Uh what what blockdain did you guys
• 15:18
  Speaker 1: build on?
• 15:20
  Speaker 2: It's Mike, So we're going to be building on our
• 15:24
  Speaker 2: layer one quoreum for this Okay. We see an opportunity
• 15:28
  Speaker 2: to bridge to XRPL, and we've had conversations with Ripple about, uh,
• 15:32
  Speaker 2: you know what we're building here, but for this phase one,
• 15:35
  Speaker 2: we're focused on our layer one quoreum.
• 15:38
  Speaker 3: So that will be all in house.
• 15:40
  Speaker 1: I'm assuming is it going to be an open to
• 15:42
  Speaker 1: where you could have developers building on it with you
• 15:45
  Speaker 1: or how's it going to work?
• 15:46
  Speaker 4: Yeah?
• 15:47
  Speaker 2: So, I mean Koreum is a it's a it's custom
• 15:50
  Speaker 2: to design for tokenization and so it's very all for friendly,
• 15:54
  Speaker 2: and we see an opportunity where we can bridge assets
• 15:58
  Speaker 2: from XRPL to the Cosmo's ecosystem. You know, one hundred
• 16:02
  Speaker 2: plus IBC chains we see that as a huge opportunity
• 16:06
  Speaker 2: for stock organization. Okay, and so absolutely there's going to
• 16:10
  Speaker 2: be some opportunities for developers to build on Koreum and
• 16:14
  Speaker 2: bridge to XRPL.
• 16:16
  Speaker 1: Ripple goes out, they grab up Hidden Road. It's now,
• 16:19
  Speaker 1: I guess, going to be called Ripple Prime. Is this
• 16:22
  Speaker 1: a company that now would be somewhat competitive to solo techs?
• 16:27
  Speaker 3: Would Ripple Prime be competitive?
• 16:29
  Speaker 5: No, it's not at all.
• 16:30
  Speaker 4: Actually, so Ripple Prime is you know, it's a prime
• 16:34
  Speaker 4: broco and I think it's focused more on kind of
• 16:38
  Speaker 4: lending and providing collateral in more traditional crypto markets, so
• 16:42
  Speaker 4: it's kind of like a tradi fi function within the
• 16:44
  Speaker 4: crypto markets.
• 16:45
  Speaker 5: But I think it's in general it's a.
• 16:47
  Speaker 4: Sign of, you know, how the space is maturing, and
• 16:51
  Speaker 4: you just one example of all the activity going on,
• 16:53
  Speaker 4: and I'd say that's not a competitor. Potentially there's ways
• 16:56
  Speaker 4: we could work with them, but I think it's a
• 16:58
  Speaker 4: great sign there's like so much tivity in the space
• 17:00
  Speaker 4: now and we're able to do so much more rounding assets.
• 17:04
  Speaker 5: Yeah.
• 17:04
  Speaker 1: Yeah, Are you guys going to be attending the SWELL
• 17:06
  Speaker 1: event in New York?
• 17:08
  Speaker 5: I'm not, I know, you've been in the past, Mike,
• 17:10
  Speaker 5: We've been in the past.
• 17:11
  Speaker 2: But this year, no, we won't be there.
• 17:13
  Speaker 1: I wonder what kind of news we're going to hear
• 17:15
  Speaker 1: from Ripple, because there's they're most likely they're going to
• 17:17
  Speaker 1: drop a lot of information. I think that could start
• 17:20
  Speaker 1: to get intriguing in the markets. Last question I have
• 17:25
  Speaker 1: Mike to you, is the possibility of a solo text token.
• 17:30
  Speaker 1: Would that play into anything for the future for you guys?
• 17:33
  Speaker 5: Possibly?
• 17:34
  Speaker 2: So we have two tokens right now, we have the
• 17:36
  Speaker 2: solo token and the Koreum token. Yeah, we have explored
• 17:39
  Speaker 2: and evaluated whether something like that could make sense. We
• 17:43
  Speaker 2: would be doing it, you know, in getting Richard's opinion
• 17:47
  Speaker 2: on it, of course, but it's something that we're we're
• 17:51
  Speaker 2: thinking about, but as of right now, you know no
• 17:54
  Speaker 2: actual plan.
• 17:55
  Speaker 3: How big do you, guys, Richard?
• 17:56
  Speaker 1: How do You've been in this business for a long time,
• 17:58
  Speaker 1: You've had a chance to see the incumbents embraced crypto,
• 18:04
  Speaker 1: you yourself starting to see this as a major upside opportunity.
• 18:08
  Speaker 1: How big do you guys think this market can become?
• 18:12
  Speaker 1: Is it Larry Fink level where he thinks it's just
• 18:14
  Speaker 1: going to eat the world.
• 18:15
  Speaker 4: Love Larry Fink. I'm a huge Fano loafing. Yeah, I
• 18:20
  Speaker 4: got into the space. I started this company. My background
• 18:22
  Speaker 4: is in traditional capital markets. I worked for a number
• 18:24
  Speaker 4: of different broker dealers, and in electronic space I worked
• 18:27
  Speaker 4: for soft Gen large investment bank. Then I got into
• 18:30
  Speaker 4: the digital asset space around you know, around twenty fourteen
• 18:34
  Speaker 4: twenty fifteen, because I love the technology and I realized
• 18:38
  Speaker 4: the potential that it had. It was super early then,
• 18:40
  Speaker 4: so as an analyst, I was writing reports and so
• 18:42
  Speaker 4: forth on the space. And then when Etheroeum came out
• 18:45
  Speaker 4: and he started having kind of the smart contracts, that's
• 18:48
  Speaker 4: where it really the light bulb really went off for me.
• 18:51
  Speaker 4: And yeah, I believe that tokenization can be permeated throughout
• 18:55
  Speaker 4: the entire capital market system.
• 18:56
  Speaker 3: Yeah, well listen, guys, it's going to be go ahead.
• 18:59
  Speaker 2: Mike, sorry, Yeah, I completely agree with that. I mean,
• 19:03
  Speaker 2: you look at the amount on chain within the past year,
• 19:07
  Speaker 2: it's tripled, and so I think going forward, we're going
• 19:10
  Speaker 2: to see an exponential growth of tokenized assets and TVL
• 19:14
  Speaker 2: and we're building the infrastructure to support that.
• 19:18
  Speaker 1: Well, you guys are in the right place at the
• 19:19
  Speaker 1: right time. This is a big sector that's starting to explode.
• 19:22
  Speaker 1: I see as we see more and more tradify moving
• 19:26
  Speaker 1: at light speed to this side of the market, and
• 19:30
  Speaker 1: I think bringing in traditional finance into it because there's
• 19:33
  Speaker 1: you know, I was listening to a lot of the
• 19:35
  Speaker 1: talks at Money twenty twenty this week and which is
• 19:38
  Speaker 1: traditional finance trying to figure out what's happening, and you know,
• 19:40
  Speaker 1: obviously the crypto side of things. So good stuff out
• 19:44
  Speaker 1: there for sure. Guys, thank you so much for coming in.
• 19:46
  Speaker 1: We appreciate it.
• 19:47
  Speaker 5: Thanks Paul, great one.
• 19:49
  Speaker 1: Thanks you guys know what to do. Jump into our
• 19:51
  Speaker 1: Diamond Circle. It's our own private group. We do these
• 19:53
  Speaker 1: kind of breakdowns from time to time. If you like them,
• 19:56
  Speaker 1: drop some comments down below. We like to explore what
• 19:58
  Speaker 1: projects are doing, what's happening in the market. Outside of
• 20:01
  Speaker 1: just a token, of course, leave some comments. Follow me
• 20:05
  Speaker 1: out there on ex at Paul Baron. We'll catch you
• 20:07
  Speaker 1: next time right here on The Paul Baron Show.