Self-custody & Stablecoins are the safety net for businesses

Transcript

[Music] thank you good afternoon everyone stable coins are the safety net for businesses trust in Banks is eroding hyperinflation is coming business need Safety Net in the case their Bank fails we've seen recently with the svb bank and it's going to come over and over web3 Finance Solutions are numerous including the stable coins and self-care

study are part of the solutions the technology brings we were mentioning just before like uh monarium monarium is one of the stable kind that prevents all of this so my name is stuff I'm one of the funding members at request Finance and request Finance is a key enabler for a crypto payment for Enterprises since 2021 there we go since 2021 we've helped over 2000 businesses processing over 350 now millions of dollars of B2B payments out of which

60 percent was in stablecoin so that's the topic of the day we wanted to share some insights about how self-custody and stablecoin can help shaping the future for Enterprise payments now we're going to address three topics stablecoin and self-custody can make Enterprise more resilient to three critical challenges inflation bank failures and Emerging Market risk so we're going to tackle those three topics first topic inflation central banks around the world have are disparately trying to fight the mess

they've made with Decades of low interest rates that turned into inflation and inflation is a growing problem for businesses and stablecoin can be one of the solutions how since Rising prices are always in domestic currencies and the solution could be to hold more Assets in a stronger currency of course or to spend uh or to extend the cost of your company in the lower currencies so stable coins can help businesses to

see our Convent inflation by switching your Treasury to a stronger currency I'm going to give you an example anyone can switch uh with their Bank from Singapore dollar to dollar because of inflation on one on one side of the ocean however with stablecoin with sgdx and usdc it's instant and cost efficient on the other side if you want to lower the cost of your labor you can spend your usdc paying contractors and vendors in their local currency in Argentinian Pesos for example

uh that's what some gaming development Studio do uh for example at the moment second insight bank failures that's bank failures are lethal for business continuity that's an increasing concern for period of financial fragility and stablecoin can help bank failures are often localized to One bank or to one country or to one jurisdiction and then there is a cross contamination that can go abroad but originally it's always like One bank one point of failure

you can circumvent this by opening plenty of bank accounts in several uh countries and jurisdictions but it's impractical to keep opening bank accounts and monitoring bank accounts and making bank transfer from bank to bank as a CFO in the industry you don't want you want to have several bank accounts for security purpose or safety but you don't want to have too many because it becomes a nightmare to manage now stablecoin and that's one thing that people do not really realize when you deposit your money at the bank you actually lend your money to the bank with no guarantee to get it back

in case of failure even if the bank issue the monies as soon as the bank the money sorry goes to the bank it's not yours anymore example Silicon Valley Bank no one was not everyone were able like to withdraw older funds and try to withdraw all your funds from One bank one day even if you are an individual your Bankers gonna ask you questions like why do you do this now the link with the stable currency is stable coins are like backed by liquid reserves across Diversified custodians so um

for example like a circle has several Banks this is why like Circle did not collapse because of the collapse of svb bank for example and in this case self-care study is key because even if the bank fails your Remain the owner of your asset so the best practice we've observed with the CFOs of the industry that we work with is everyone has of course A treasury in crypto and a bit in Fiat and most of them have a self-custody in crypto because they don't trust the banks and they have a minimum uh let's say volume

of Bank currency for daily Fiat payment at this point oh sorry study can help us regarding Emerging Market risk why do I mean by this one of the major risks when you do business in an Emerging Market is capital control so we have a statistic here like according to the Yeta associations or the International Air transport Association the alliance are waiting to repatriate

something like six billion dollars for 30 countries means that Capital control in Emerging Markets are like uh imposed by the government because those transactions occur in the banking system and the government has the control over the banking system and can make sure that the capital remain in the country I don't know how many of you here today make business with China but if you ever make turnover in China good luck to make a withdraw to like another country now stable coins one more time and self-custody can help corporate

treasurers to move their money in and out for in local currency to like a foreign currency in a click uh while still benefiting for making business in these Emerging Markets so as a conclusion self-cost study and several coin are for us from what we observe the beginning of revolution in how Enterprise work if you want to be part of the this future you can join the hundreds of teams that are like using request Finance

funny fact we managed to create a a club of the web 3 CFOs that was originally like a telegram group of 15 CFOs that were like we created to communicate with each other nowadays this web3 CFO Club represents is composed of 650 members in a year 650 funders and CFOs are now like sharing best practices yes thank you I invite you like to look at the web 3 CFO guide here which

is a report about the financial stack for web 3 organization that has been written by uh request finance and their customers so the CFOs of the industry and you have the link here for the web3 CFO Club if the CFO of your company wants to join you can send an application here thank you very much question and answers we have four minutes I guess yeah go ahead

just tell us a little bit about what request um does request required yeah okay so request we power B2B transaction with like an invoicing solution that like most of the biggest companies in web3 you use so we have uh 2500 organizations using us including vendor contractors individual but also like company like RV maker the graphs on books like everyone and basically it's the build.com for crypto that like everyone uses for simplifying their daily spin management and compliance because like no one really wants to go

to jail so it's better if you document every single disbursement what was our question okay thank you very much