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Stop Onboarding Users. Onboard $100 Billion Instead - podcast episode you should see

Kevin's Journey From Accounting Student to Gold-Backed Stablecoin Founder

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In this conversation with Kevin Rusher from Regnum Aurum, I learn how they are building a real-world assets (like gold mines) backed stablecoins empire.

TLDR

  • Kevin Rusher is the sole founder of RAAC — a DeFi liquidity protocol that tokenizes real-world assets (starting with gold mines and real estate) to back a stablecoin and generate sustainable, layered yield.

  • His core insight: DeFi’s volatility problem isn’t solved by better tokenomics — it’s solved by bringing dollar-denominated yield from outside crypto back into the system.

  • Most RWA protocols are building for the market they wish existed. RAAC is building for institutions — the only actors who can actually move the needle at scale.


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The Core Idea Worth Sitting With

Most DeFi protocols are held together by game theory — staking incentives, emissions schedules, and social coordination that unravels when prices drop. RAAC is betting on something older and more boring: contracts.

Real-world asset owners who tokenize through RAAC are legally bound to participate in the ecosystem. That’s not a whitepaper promise. That’s a signed obligation.

It’s the same logic that makes traditional finance stable — and it’s almost entirely absent from DeFi. Kevin’s insight is that you don’t need to reinvent the wheel. You just need to bolt a seatbelt onto the one that already exists.

The stablecoin market is the infrastructure layer for everything that follows — on-chain forex, tokenized real estate, institutional liquidity. If Kevin’s right, RAAC is less a DeFi protocol and more a piece of financial plumbing for the next decade.


Moments

On the product thesis (~9:30)

“Everyone’s goal is onboarding the next billion users. Our goal was always: how do we onboard the next $100 billion?”

On sustainable business models (~22:20)

“We found our product-market fit before we launched. We found our customers. We are our own supply and demand — because real world asset owners are contractually obligated to participate in the ecosystem.”

On the DeFi-to-institution pipeline (~10:30)

“The flood of capital hasn’t come from retail. It’s come from institutions... It’s much more efficient to onboard one institution than 2,000 individuals.”



Let me know what you think? I loved this episode.
Till next time,

Pete (aka BFG)