Stablecoinmente hablando

Fintech loves to pretend the world is running on modern infrastructure. Founders talk about APIs, real time rails, cloud cores, and digital transformation as if the old world politely powered down before the new one came online. Meanwhile, a huge portion of emerging market money still moves through systems shaped by FoxPro, a 1990s database language that Microsoft buried while half this industry was still in diapers. People do not like admitting this because it ruins the aesthetic. But the re...

Stablecoins get a lot of attention, but most of the excitement is built around the first half of the problem: the part where they move quickly, settle instantly, and feel like a better version of traditional rails. That part is true. It’s also the easy part. The harder part is the second tail, the part of the distribution where most of the industry never looks. This is where currencies behave unpredictably, liquidity shrinks as soon as you add size, and seemingly “stable” flows disappear when...

The worst position in any game isn't being wrong. It's being left out entirely. I've watched more people get ruined by being right at the wrong time than by being wrong with room to try again. They mortgaged everything on a single conviction, nailed the direction, botched the timing by three months, and got liquidated before vindication arrived. Meanwhile, the person who stayed alive, clicking, trying, repositioning, walked away with everything. This isn't a story about perfection. It's about...

Today I got asked a question about our market making operation. Someone noticed that almost no FX swaps were done on the weekend. And I guess this is where we talk about the role of market makers and why everything changes once you step into onchain FX and payments. Traditional market makers were built for price discovery. That is their job. They quote around volatility, monetize uncertainty, and live off speculative flow. When traders move, they move. When traders sleep, they sleep. Weekends...

We are glad to announce that we raised a strategic fundraising round from [Stablecoin issuer]