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Episode Summary In this episode of Wrestling Payments, Joe Casali sits down with Steve Wasserman of Vments and Larry Pruss of Strategic Resource Management for an urgent conversation about the seismic shifts happening in payments right now. Stablecoins and tokenized deposits aren't coming—they're here, and they're already pulling deposits away from traditional institutions. Steve breaks down the critical differences between these technologies and why full-reserve models are creating both new opportunities and existential threats for banks and credit unions. Larry shares eye-opening data on deposit outflows and explains why institutions can't afford to wait while new players capture customer relationships. The conversation tackles practical challenges head-on, from building acceptance networks to preventing costly user mistakes, and explores how QR codes and programmable money are about to transform the payment experience. This episode is a wake-up call: the time to develop your digital asset strategy isn't someday—it's now.

Guests-at-a-Glance
Steve Wasserman Founder and CEO, Vments A leading voice in digital currencies and payments infrastructure, helping financial institutions navigate the strategic complexities of stablecoins and emerging payment technologies. LinkedIn

Larry Pruss Senior Vice President, Digital Assets Advisory Services, SRM (Strategic Resource Management) A strategic advisor guiding banks and credit unions through the digital assets landscape with practical, regulatory-ready approaches to emerging payment trends. LinkedIn

Key Insights

The Deposit Battle Is Already Underway Financial institutions are losing deposits to stablecoins and digital asset platforms at an alarming rate—in some cases, 3% per month. This isn't a future threat; it's happening now. Stablecoins operate on full-reserve models with public blockchain transparency, offering speed and efficiency that attract businesses and consumers alike. Traditional institutions that viewed competition as coming only from other banks are now facing deposit outflows to fintechs and digital platforms that operate with fewer intermediaries. The competitive landscape has fundamentally shifted, and institutions must develop new strategies to retain customers and stay relevant in this digital-first payments world.

Strategy First, Adoption Second The pressure to launch stablecoin products or tokenized deposit services is intense, but rushing in without a clear strategy leads to wasted resources and customer confusion. The winning approach starts with understanding user needs, building acceptance networks, and establishing the right partnerships before launching anything. Institutions need to map out how payments will be accepted, integrate with wallet providers, and ensure smooth conversion between digital assets and traditional money. This methodical planning manages risk, supports compliance, and prevents customers from defecting to better-prepared competitors. In this rapidly evolving space, strategic groundwork separates sustainable growth from expensive mistakes.

QR Codes and Programmable Money Are the Future Interface The next generation of payments is being built on secure QR standards and programmable money. Technologies like X9 QR codes let users pay across multiple rails—ACH, instant payments, cards, or wallets—with a single scan. This streamlines the customer experience while enabling programmable features like automated refunds and conditional payments that eliminate manual intervention.