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Chana Schoenberger (00:12):
What else should banks be thinking about in terms of regulation, legislation in the on-chain world?
Kristin Smith (00:17):
Yeah. Well, I think, listen, there's a lot going on as a result of the Genius Act, and I think those rules are going to continue to be finalized. I do think though, and this doesn't directly apply to banks, but more indirectly applies to banks, as we've seen more securities come on chain, I think we're going to see the rise of stablecoins as well. And so if we start to have common rails, like for example, if your Apple stock is on the same blockchain Solana, for example, as a payment stablecoin, you're going to see some really interesting ways to do collateralized lending within there. You're going to see different ways to do payments using the stablecoins. And so I think there are going to be some changes to some of the financial products that can be offered because of having this common set of rails. But right now, I think the big step is really focusing on payment stablecoins as an entry point.
(01:18):
And some of these other services will expand as the market continues to grow and blockchains become the place of record for different transactions to be made.