The Stablecoin Podcast

In this episode, Sekhar Cidambi, CTO of Nium, joins us to discuss what it takes to integrate stablecoins into a global payments network operating across 190+ countries. Drawing on experience at Visa, Coinbase, FIS, and now Nium, Sekhar explains why stablecoins work best alongside existing payment rails, how treasury and liquidity use cases are driving adoption, and why compliance, security, and real-time settlement remain the biggest challenges in scaling digital assets for enterprise payments.

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Stablecoin Partners: https://www.stablecoinpartners.com/

Nium

Website: https://www.nium.com

LinkedIn: https://www.linkedin.com/in/cidambi/

In this episode, Dan Mottice, Head of Stablecoins at Modern Treasury and founder of the acquired stablecoin platform Beam, joins us to discuss the next phase of digital money infrastructure. We explore how stablecoins, ACH, wires, tokenized deposits and traditional banking rails are converging into a single orchestration layer, why stablecoins are increasingly being treated as just another settlement asset, and what it takes to build enterprise-grade payment experiences. From global dollar accounts to self-custody and tokenized deposits, Dan shares how the tooling, regulation and market maturity have evolved over the past few years.

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Stablecoin Partners: https://www.stablecoinpartners.com/

Modern Treasury

Website: https://www.moderntreasury.com

Dan Mottice X/Twitter: https://x.com/mottice

In this episode, we're joined by Sergio Mello, Global Head of Stablecoin Solutions at Anchorage Digital, the only OCC-chartered crypto bank in the US. We trace his path from Web1 entrepreneurship in Italy to building institutional stablecoin infrastructure, and dig into how Anchorage built an end-to-end issuance stack now serving major players like Tether, Western Union, OSL, and Athena. We unpack the launch of USAT, Tether's US-regulated stablecoin issued alongside Cantor and Anchorage, why "good stablecoin means good dollar," and how the GENIUS Act reshaped the regulatory landscape almost overnight. We also dive deep into tokenized deposits versus stablecoins, why Sergio sees them as complementary rather than competing (tokenized deposits for staying close, stablecoins for going far), the role of correspondent banking in solving cross-border dollar access, and why market cap is a poor proxy for real stablecoin utility compared to acceptance by major payment networks. Plus: thoughts on Revolut's new EUR stablecoin, the "Money Flower" framework revisited, and Sergio's advice for any bank or fintech deciding whether to launch its own stablecoin. 

Follow Stablecoin Partners 

Stablecoin Partners: https://www.stablecoinpartners.com/ 

StableCheck: https://www.stablecoinstandard.com/stablecheck 

SVB:

Website: https://www.anchorage.com/ 

LinkedIn: linkedin.com/in/sergiomello / https://www.linkedin.com/company/anchorage/ 

Chapters  

00:00 Institutional Stablecoins: The Big Debate

01:16 Sergio’s Path to Digital Assets

03:38 What Institutions Need From Stablecoin Issuance

05:37 Regulation and the Institutional Adoption Wave

08:54 Tether and the Regulated U.S. Market

13:38 Why Banks Are Entering Stablecoin Issuance

16:15 Liquidity Fragmentation and Interoperability

19:41 Measuring Stablecoin Utility Beyond Market Cap

24:25 Tokenized Deposits vs. Stablecoins

35:10 Cross-Border Banking and Dollar Access

40:18 The Case for Non-U.S. Stablecoins

44:49 Remittances, Treasury, and Real-World Distribution

47:16 When Should a Bank or Fintech Launch a Stablecoin?

In this episode, we're joined by Anthony Vassallo, Director of Crypto at Silicon Valley Bank (a division of First Citizens Bank), who's spent the last eight of his ten years at SVB bridging traditional banking with digital assets. We dig into how SVB built a dedicated crypto practice now serving over 500 clients, why banks that once wouldn't touch digital assets are suddenly racing to build stablecoin infrastructure, and what's actually changed in the compliance and risk conversation since 2022. We also unpack the difference between stablecoins and tokenized deposits, why Anthony sees distribution, not issuance, as the real bottleneck to stablecoin adoption, whether Tether has become "too big to fail," and his framework for thinking about confidentiality versus compliance on-chain (verify the mailbox exists without disclosing the address). Plus: what the GENIUS Act means for banks now that rules are finally in place, and why "hide the blockchain, show the benefit" might be the best way to think about where this all goes next.

Follow Stablecoin Partners 

Stablecoin Partners: https://www.stablecoinpartners.com/ 

StableCheck: https://www.stablecoinstandard.com/stablecheck 

SVB:

Website: https://www.svb.com/profile/anthony-vassallo/ 

LinkedIn: https://www.linkedin.com/in/anthonyvassallo/ / https://www.linkedin.com/company/silicon-valley-bank/ 

Chapters  

00:14 Introduction to Stablecoin Infrastructure

03:13 Silicon Valley Bank's Role in Digital Assets

06:11 Evolution of Banking Relationships in Crypto

09:21 Adapting to Market Changes and Client Needs

12:00 The Changing Landscape of Digital Assets

15:08 Stablecoins and Their Growing Importance

18:02 Institutional Perspectives on Digital Assets

21:09 The Future of Banking and Digital Assets

25:17 Initial Reactions and Market Dynamics

26:19 Tokenization of Assets and Customer Demand

28:48 Counterparty Risk and Liquidity Concerns

29:48 Distribution vs. Issuance in Stablecoins

34:34 Systemic Risks and Market Cap of Stablecoins

38:23 Fragmentation and the Future of Stablecoins

42:26 Compliance Challenges in Digital Assets

42:27 Future of Confidentiality and Compliance

In this episode, we're joined by Arnold Lee, co-founder and CEO of Sphere Labs, whose company settles cross-border payments across more than 160 markets and just brought Deutsche Telekom on as a validator for its new compliance-native ledger, SphereNet. We dig into how a Solana hackathon win led Arnold and his co-founder to spend the last three years building payment rails across Latin America, why the region's regulatory chaos and thin corporate participation create both the opportunity and the ceiling for stablecoin adoption, and how SphereNet's approach to confidential-but-disclosable transactions is designed to let regulated institutions get comfortable with blockchain rails without sacrificing their compliance obligations. We also unpack why a telecom giant like Deutsche Telekom is a surprisingly natural fit as a validator, Arnold's contrarian take on agentic commerce (it's less about AI agents buying sneakers and more about underwriting mid-market trade finance that humans can't be bothered to do), and what the GENIUS Act, and the CLARITY Act working its way through Congress, actually mean for money transmitters building in this space.

Follow Stablecoin Partners 

Stablecoin Partners: https://www.stablecoinpartners.com/ 

StableCheck: https://www.stablecoinstandard.com/stablecheck 

Sphere Pay/Labs/Net:

Websites: SpherePay: Global Stablecoin Payments API & Dashboard / https://spherelabs.co/ / https://www.sphere.net/ 

LinkedIn: Sphere Labs | LinkedIn 

Arnold: Arnold Lee - Sphere Labs | LinkedIn 

Chapters  

00:00 Introduction to Sphere Labs and Arnold Lee's Journey

03:00 The Evolution of SphereNet and Its Unique Approach

05:56 Sphere Labs' Operations in Latin America

09:13 Compliance and Institutional Adoption Challenges

12:02 Sphere's Differentiation in the Market

14:59 The Interplay of Sphere Pay, Sphere Labs, and Sphere Net

18:09 Privacy Preservation in Blockchain Transactions

25:26 Balancing Privacy and Regulation

29:18 The Role of Telecom in Payment Infrastructure

31:44 AI and Agentic Payments: A New Frontier

40:26 Building Compliance into Blockchain Solutions

45:48 The Impact of Regulatory Clarity on Innovation

In this episode, we’re joined by Chris O'Connor and Roque Castro from Elysium Technologies, alongside Effie Dimitropoulos, CEO of AUDD, to explore where stablecoins, FX markets, and institutional settlement intersect. We discuss the rise of non‑USD stablecoins, the evolution of post‑trade infrastructure, and why interoperability between stablecoins, tokenized assets, and traditional financial rails could define the next phase of digital finance.

Stablecoin Partners

https://www.stablecoinpartners.com

https://www.stablecoinstandard.com/stablecheck

Sponsored by Elysium

Website: https://elysiumtechgroup.com

LinkedIn: https://www.linkedin.com/company/elysium-technologies-group/

Chris O'Connor | CEO, Elysium Technologies

LinkedIn: https://www.linkedin.com/in/cdoconno/

Roque Castro | CCO Elysium Technologies

LinkedIn: https://www.linkedin.com/in/roquecastro/

Effie Dimitropoulos | CEO, AUDD

Website: https://audd.digital

LinkedIn: https://www.linkedin.com/in/edimitropoulos/

In this episode, we're joined by Joe David, founder and CEO of Nephos Group, an accountancy practice that moved from servicing a handful of early crypto clients in 2018 to running its business from Dubai and settling its own invoices in a regulated dirham stablecoin. We dig into how a chance client introduction to a crypto exchange turned into a full pivot for the firm, why Joe relocated Nephos's headquarters from the UK to the UAE, and how VARA and ADGM's "inside out" approach to regulation compares with the UK's attempt to bolt crypto onto existing financial services rules. From accepting payments in AE Coin to the tax treatment question dividing regulators worldwide, is a stablecoin a disposal of an asset or a cash-equivalent payment method?, we explore where the accounting and compliance headaches really sit for businesses adopting this technology. We also unpack the difference between a reserve attestation and true proof of reserves, why GBPA opts for monthly reporting ahead of the FCA's quarterly requirement, and how local stablecoins like AE Coin and GBPA might coexist with global players in an increasingly interoperable, multi-currency stablecoin landscape.

Follow Stablecoin Partners 

Stablecoin Partners: https://www.stablecoinpartners.com/ 

StableCheck: https://www.stablecoinstandard.com/stablecheck 

Nephos Group

Website: https://www.nephosgroup.com/ 

Joe Website: https://joedavid.co/ 

LinkedIn: https://www.linkedin.com/in/joedavidcrypto/ 

Chapters  

0:00 - Opening and introductions

1:14 - Joe’s background and how Nephos moved into crypto

6:57 - Why Joe moved from the UK to Dubai

9:24 - Why the UAE is a crypto-friendly hub

13:31 - Stablecoin payments and AE Coin

18:13 - Tax treatment of stablecoins

28:36 - Reserves vs. attestations

35:10 - UK stablecoin rules and monthly reporting

42:09 - Local vs international stablecoins

48:47 - Where the industry is heading

52:29 - What businesses should ask their accountant first

In this episode, we're joined by Maher Ayari, co-founder of Sorbet, a stablecoin-powered fintech building what it calls the region's first on-chain neobank for the MENA market. We dig into how a freelancer payments problem in Riyadh turned into a broader thesis for stablecoin-based settlement, why the UAE and Saudi Arabia rank among the top global remittance corridors despite currencies already pegged to the dollar, and how Sorbet is navigating one of the world's more conservative regulatory environments while building alongside the Saudi Central Bank's evolving stance on digital assets. From the "stablecoin sandwich" model of plugging into providers like Bridge and Circle, to the strategic shift toward owning liquidity rails directly, we explore how Sorbet is repositioning from B2C freelancer payments toward a Mercury-style B2B financial operating system for businesses across Saudi and the wider region. We also unpack the just-announced OpenUSD consortium, what it signals about the USDC-versus-USDT dynamic, and why distribution, not issuance, may be the hardest problem in stablecoins today.Follow Stablecoin Partners Stablecoin Partners: https://www.stablecoinpartners.com/ StableCheck: https://www.stablecoinstandard.com/stablecheck SorbetWebsite: https://mysorbet.io/ LinkedIn: https://www.linkedin.com/company/mysorbet/ Maher: https://sa.linkedin.com/in/maher-ayari Chapters 00:00 Introduction to Sorbet and the MENA Region02:58 Maher's Journey and the Birth of Sorbet06:06 The Evolution of Stablecoins in the MENA Region09:01 Challenges and Opportunities in Building in the GCC11:55 The Role of Stablecoins in Remittances14:46 Understanding the Unique Needs of the MENA Market17:58 The Future of Stablecoins and Financial Infrastructure21:02 Target Customers and Business Model of Sorbet24:15 Transitioning to B2B Financial Solutions29:11 The Evolution of Stablecoins in the MENA Region35:40 Innovative Financial Products and Market Positioning39:20 The Impact of OpenUSD on the Stablecoin Landscape46:33 Navigating the Future of Stablecoins and Regulation 

In this episode, we're joined by Ramez Rafeek, General Manager of AED Stablecoin LLC, the issuer of AECoin, the UAE's first Dirham-backed stablecoin, licensed directly by the Central Bank of the UAE. We dig into what it actually took to build a regulated stablecoin from scratch alongside a central bank, how the escrow-backed, one-to-one Dirham peg works day to day, and why AECoin's daily reporting and monthly attestation model sets a different bar for transparency. From government fee payments and merchant adoption to a standout use case, topping up your wallet with crypto and spending it instantly as AECoin, we explore how real-world distribution was won across retail, institutional, and B2B channels. We also examine the broader Dirham stablecoin landscape, how the UAE's central bank licensing differs from free-zone regimes like VARA and ADGM, and where Ramez sees digital Dirham adoption heading by 2030.Follow Stablecoin Partners Stablecoin Partners: https://www.stablecoinpartners.com/ StableCheck: https://www.stablecoinstandard.com/stablecheck AE CoinWebsite: https://aecoin.com/ LinkedIn: https://www.linkedin.com/company/ad-coinuae/ Ramez: https://www.linkedin.com/in/ramez-rafeek-18651541/ Chapters 00:00 Introduction to AECoin and Its Significance03:04 Regulatory Framework and Compliance in the UAE11:50 Impact of Regulation on Innovation12:21 Competitive Landscape of Stablecoins in the UAE15:35 Use Cases and Adoption of AECoin20:21 Future of AECoin and Market Demand26:01 Vision for the Future of Digital Payments in the UAE30:42 Conclusion and Resources for AECoin

In this episode, we're joined by Pritpal Shokar, Head of Product for Digital Assets at Thunes, to explore what it really takes to build stablecoin infrastructure at a global scale. We dig into how digital money is evolving across borders, why stablecoins and e-money aren't as interchangeable as they seem, and where tokenized deposits fit into the picture.

From liquidity challenges in cross-border payments to the UK's shifting regulatory landscape, we examine the friction points that still define international finance, and how programmable money could eliminate them. We also look ahead to the emerging world of agentic payments, where AI-driven transactions demand new thinking around trust, oversight, and the role of the treasurer.

Follow Stablecoin Partners:

- Stablecoin Partners: https://www.stablecoinpartners.com/

- StableCheck: https://www.stablecoinstandard.com/stablecheck

Thunes:

- Website: https://www.thunes.com/

- LinkedIn: https://www.linkedin.com/company/thunespayments/

- Pritpal: https://www.linkedin.com/in/pritpal-shokar/

Presented in partnership with Nephos Group

Proud sponsors of the Stablecoin Standard Podcast, Nephos Group is the specialist accountancy and advisory firm for stablecoin issuers. From proof of reserves and attestations to stablecoin accounting and compliance support, they help digital asset businesses build the financial rigour that institutional adoption demands. Learn more at nephosgroup.com.