"If you think about it from the most fundamental perspective, it's incredibly unfair that your future is dictated by where you're born, the passport you hold, the economy in which you live. As long as you're able to get a decent education and you have access to some basic human rights, like healthcare, and you can access digital goods, then you can live a globally first world life and participate in a global economy, even if you happen to be born in the wrong country. To me, the ultimate goal of crypto is to debate Bitcoin or USDC, we've spent a lot of time doing that but the more fundamental thing is that the internet came along. I call the internet the great leveler of the world. It leveled the world. Telecoms weren't open, information was not open, it was very much like banking, siloed country by country. And now we need to do that to finance, so that if you're born in Singapore or Australia, where I grew up." - Raagulan Pathy, The Stablecoin Guy, Co-Founder of KAST" - Raagulan Pathy
"The thing that stablecoins did was they provided an internet layer for money. Bitcoin was the original blockchain-based layer, as well as a bunch of other crypto. But the issue is, a bunch of the other crypto is largely volatile and asset-based and speculative. Stablecoins—99% are backed against the US dollar—something people already understand. There's already 22 trillion of money supply in the US; if you add offshore, notionally it's about 40 trillion or 50 trillion. The beauty of stablecoins is that it's money accessible to anyone. Doesn't matter what passport you hold or what your residency is. It's on chain, it's one-to-one to the US dollar, and you can send it to anyone. To open an account like you would a bank, all you need is a wallet. And so that, I think, is matching the speed and openness of the internet. In many ways, it's a much better fabric for money around the world." - Raagulan Pathy, The Stablecoin Guy, Co-Founder of KAST" - Raagulan Pathy
"The best example of this is when I went on a trip to Thailand, met some Argentinian guys. It was just after the Argentinian peso depegged from the US dollar. Yeah. It was one to one. This time when I went to Argentina, it was 1,200 to one. To just show you what Argentinians have suffered over the last 20 years—right—in terms of currency depreciation. Right. And so having access to US dollars is hugely transformative. And they own the wallet, so the government can't seize it so easily—and a whole bunch of things. And so I think in the context of these countries, it's very, very transformative to their banking experience. Would it be growing up as I'm able to feel secure about the value of my holdings in this bank?" - Raagulan Pathy, The Stablecoin Guy, Co-Founder of KAST" - Raagulan Pathy
In this episode, Jeremy Au speaks on the stablecoin revolution vs. struggling currencies, USDC Circle GM to founder, and the future of borderless banking.
Keywords: Raagulan Pathy, Stablecoin Revolution, Struggling Currencies, USDC Circle GM to Founder, Borderless Banking, Singapore, Southeast Asia, FinTech, Founder Story
