The integration of tokenized traditional financial assets (stocks and ETFs) into MetaMask signifies a major shift towards a more accessible, self-custodial, and composable global financial system, blurring the lines between traditional finance (TradFi) and decentralized finance (DeFi).
Mind Map
Nhấn để mở rộng
Nhấn để khám phá sơ đồ tư duy tương tác đầy đủ
Hello.
>> How you doing? >> Good.
>> Good.
>> Exciting stuff going on.
>> Joining us very exciting stuff today. Um
we announced today that allo tokenized
stocks and ETFs >> huge
>> huge
>> are live in MetaMask. Um what do you
think that means for you and for the you
know millions of people across markets
that can now finally access these
instruments alongside crypto?
>> Uh it's a game changer. It's uh um
self-custodied access to uh instruments
that most people around the world um
haven't normally had access to. Um so
what you've been doing is um tokenizing
real world assets and uh um tokenized
real world assets are now added to the
natively tokenized assets and all
accessible uh through MetaMask and uh um
uh the kinds of assets uh or the way
that you've been doing it is uh is
essentially a harbinger of how global
finance is going to be moving. uh you've
done some some great things uh you know
normally uh accessing equities involves
T+1 T+2 settlement um you've done
realtime settlement um that's a gamecher
for the velocity of an economy uh and
for um the ability of an individual to
um create some value in some sort of
trade uh with their asset and uh and
then have it instantly available um to
do something else uh that's of value
rather than losing access essentially to
uh to your asset for a day or two. Um uh enabling
enabling
access to trade um 245
uh for the full work week. Um enable uh
permissionless access to to move the
tokens around uh anywhere 247 365.
Again, a gamecher uh represents real
real freedom and agency, financial
agency for people. Uh ability to to use
these tokens as collateral uh to borrow
against or in other kinds of situations
to provide liquidity uh into dexes in
different situations to to participate
in in vaults or or other sorts of uh
portfolio constructions. uh participate
uh uh with full composability um in
DeFi. Um so congratulations to you and
uh uh and we are uh absolutely delighted
to be able to offer this to uh um to
people around the world through MetaMask.
MetaMask.
>> Yeah. No, it's been a it's been a
pleasure working with you guys as well
and we share the excitement of really
enabling these assets in a fully
self-custodial manner to have these
assets also work in DeFi. I think a lot
of uh platforms out there are actually
not ready for what that really means in
terms of access and how financial
services would work down the line. But
tell me a little bit what does that mean
for MetaMask specifically to have all
these a assets live on the same rails?
>> Um so it's it's part of the direction
that we've been going in uh for quite a
while. Um uh again it's about uh
empowering users and communities to have
permissionless access to and control
over their own assets. Uh I don't know
about you, but I've walked into a bank
and I've been denied access to my money
at times when I asked for maybe more
than $3,000. It was a few years ago.
Maybe they've gotten a little better and
$3,000 isn't isn't what it used to be.
Um [snorts]
uh but uh um MetaMask has been um
releasing um features and capabilities
um at a rapid pace recently. Uh so we've
uh we provided uh access to to
hyperlquid perpetual futures to equity
per uh to polyarket prediction markets.
Um uh all of these instruments are um
accessible uh within the safe confines
of your MetaMask. You don't need to to
move tokens to a centralized exchange or
or explicitly bridge uh to to some
network to access uh um those exciting
instruments. Um we've been rolling out
uh our MetaMask debit card uh globally.
Um, and that's a that's a gamecher also
in the sense that in instead of um
taking your paycheck uh and moving it
into your bank account so that you can
make use of your your debit card um to
pay for things in your life, you can
actually move your capital uh into an
account uh on Lineia and then you can
move all your capital into DeFi. Um, and
if you're going out and paying for
dinner uh on a Tuesday uh on that
particular Tuesday, right at that time,
uh you're paying um on the global
Mastercard network and and some of your
capital moves out of DeFi um to
essentially pay uh and so instead of the
the bank earning yield on your back, uh
you're you're earning yield on your
money. Um, and so, uh, MetaMask, uh, uh,
USD, our stable coin is is also rolling
out globally. We're we're very excited
about that. We've got a rewards program
which, uh, has just kicked off to, to
bring people, uh, into our world, um, in
more diverse ways. So, um, MetaMask is
firing on all cylinders and now it's
firing on the ono global markets.
>> I love that. No, you guys have
definitely shipped a lot and I think
MetaMask is one of those prime examples
that is turning more and more into an
everything app. There's been a lot of
talk about the everything app. A big
push even in the US to enable some of
that. But you know, MetaMask right now I
think is living proof that those things
are becoming increasingly possible on
chain. You mentioned um that these
things are also available in a
self-custodial matter, right? And you
know some other tokenized products are
not exactly like that. Why in your
opinion does the whole concept of
self-custody and being able to
self-custody these tokenized stocks and
ETFs matter in the first place?
>> Yeah, so MetaMaski is is moving towards
being a uh a fullervice
um essentially a neo bankank um in your
pocket or on on your mobile or or on
your laptop. Um it uh it's a different
kind of neo bank. It's Neo Bank that
enables you to to be um fully in control
of your assets. And why is it important
to um have self-custody of your assets
uh in a a country like this? Um you
don't really need that uh except when
the hits the fan. Uh and uh um some
sort of crisis happens. Um maybe that
doesn't happen in the United States.
Let's hope it doesn't happen in the
United States or or major Western
countries. But uh a few years ago in
Greece uh for instance uh there there
was a bit of a financial crisis there
and uh austerity uh was implemented and
uh essentially a lot of people had their
their bank accounts haircut uh by a very
significant percent. So you're you wake
up one morning and you have a lot less
money uh than you thought you did and
and that's it's a very civilized country
[snorts] and uh uh it can happen
anywhere in the world. Uh and so um
having full control of uh your assets uh
in a way that you know you don't have to
ask for permission uh in a way that a
government can't uh simply um by fiat uh
just uh um destroy value or extract
value from you. That is incredibly
important. Um there are a lot more
challenged nations in the world. Um
there's a lot of crazy stuff going on uh
currently. Um there are situations where
where women's rights aren't well
protected and uh a woman can uh earn
money and take it home and uh that money
isn't necessarily safe from family
members or community members. Um it is
safe um if that money is uh stored in a
meta mask and uh and the family members
don't don't have access uh to that meta
mask. um in nations uh run by tyrants uh
who financially exploit um their
citizens and financially repress their
citizens when um when the debt gets too
large and inflation gets very high. um
having access to
um stable coins uh or even better having
access to financial instruments uh
available to Americans or or to citizens
in Western nations that don't just hold
their store hold their value as a good
store of value but represent the
potential to to grow over time um uh as
the American economy grows. That's
that's a total game changer. So um you
can be protected uh from your tyrant.
Your tyrant can be weakened because the
tyrant isn't able to exploit you anymore
and you can potentially um access sort
of aspects of the American dream. You
can buy some Apple stock or some Google
stock and uh ideally that grows and
ideally that gives you the ability to to
do something more empowering with your life.
life.
>> No, I I fully agree. One of the key
themes that we keep on hitting on atondo
at least is this concept of access
access to use any financial product
whenever you wanted wherever you wanted
and being able to have these assets in a
self-custodial fashion in a
permissionless fashion and being the
hold them in a self-custodial wallet I
would argue is quite frankly the only
real way to guarantee that level of
access that we aspire to get.
>> It's the the ultimate game changer.
We're we're either moving into a bit of
a prison planet kind of situation or via
decentralization, real um economic,
social, political, financial agency for
people um on these decentralized rails
plus AI um so that you're going to level
yourself up on anything in real time and
and have essentially cognitive
superpowers uh available to you. I I
think uh I think we're going to take um
the positive road. Uh I'm an optimist
and and I think uh uh I think we're
laying the foundations for a pretty
exciting future.
>> Awesome. You you hit on something that I
thought was also quite interesting where
you know people globally now for the
first time can access all of these
assets traditional financial instruments
and having them alongside the crypto.
there's really a convergence happening,
not really a competition, but a
convergence more of the traditional
financial world with the crypto world.
You could almost argue that the crypto
ETFs in a way were the start of that
where crypto was introduced into Tradfi
just with a different rapper and now all
of these traditional financial
instruments are coming on chain. How do
you think that with all of these assets
increasingly on one platform, how does
that change how people think about
portfolios and that does that blur the
lines between crypto investors and
traditional investors?
>> Absolutely. Let's hope so. Um, so so
we're coming out of a an era uh under
the Biden administration and uh uh Chair
Gensler's gaslighting and uh and
attempting to thwart our industry uh at
every turn. uh where where it was pretty
dire uh for our ecosystem. Uh so America
was trying to kill us. Um and we made it
through. Um we had a change of
administration. Uh we had uh stable
coins uh already starting to to look
really promising. We we had the ETF
approval. I'm not sure who made the
phone call to Chair Gensler to to make
that happen, but thank you. Uh who
whoever that was.
>> Maybe the person's in this room. Who
knows? It could be. Um uh then we had uh
uh the Genius Act uh making stables um
legal uh and and exciting. Um and that
uh that essentially caused um a bit of
an earthquake uh in the financial
industry. So banks started to panic. Uh
they started to be concerned uh uh that
maybe they'll lose uh their deposit
base. I I don't think that's true. Nick
Carter uh on his podcast uh uh shared
some data that uh um bank deposits uh
really rise and fall in correlation to
the liquidity in the uh in the US or or
the global economy. Uh it's probably
much less likely to be affected by
stables. My guess is that uh stables
will be a certain form of money. Bank
deposit tokens will be a different form
of money. There'll be other forms of
money. um and they'll probably rise and
fall uh with global liquidity. Um and so
we've um we've been in this era uh where
um Tradfi um has found itself uh now
onboarding uh to DeFi. Um [snorts] uh
the digital asset treasury companies uh
were an interesting part of that. Uh I'm
I'm very optimistic about certain
digital asset treasury companies. I
think many others were way too
premature. Uh and so but they're they're
going to be an important construct uh
going forward. Um as many banks around
the world uh were panicking um uh Cyos
uh picked up on that or sorry Swift
picked up on that. Um and we um uh ended
up uh entering into discussions uh about
uh uh how Swift can uh offer something
that uh uh that can be sort of next
generation embracing of of blockchain um
and and make things um easier for
financial institutions for banks around
the world uh to adopt the the technology.
technology.
it's probably not the case that banks
will need to custody the assets of their
customers uh in order to to survive and
thrive. Um and so um there there lots of
good ideas around that. But uh um at
Cyos in Frankfurt um uh Javier um Paris
Taso the CEO of Swift announced that uh
the consensus would be helping Swift to
build Swift Ledger. Um it is a prototype
uh that that we've been building. It's
the first phase of a of a multi-phase
project. Um and that was um received
really well. It was received as as a bit
of a revelation uh where uh previously
um it was verboten uh for tradi and defi
uh to talk to one another. Of course it
happened in many different ways but uh
uh many people frowned on it. Um and um
the sentiment at cyos shifted. Uh I
think uh there's a collective sigh of
relief and excitement uh that now we
have all been given permission uh to to
speak with one another to collaborate
with one another to take the 200 years
[snorts] of innovation in trad
the 10 years of innovation in in
[snorts] our space uh and uh some pretty
profound stuff in our space I I believe
uh and and make that available
Um so decentralized trust is uh is uh a
main characteristic of what we're all
doing in our ecosystem and uh um Satoshi
invented decentralized trust. Uh
Ethereum perhaps perfected it and and
brought it uh um to um benefit every
kind of application not just narrow
applications of money. Um and if we can
uh bring decentralized trust to tradi um
in a world uh that is losing trust in
centralized institutions uh we can make
tradi and defi just finance together and
uh and it'll make for much sounder
foundations for the economy
>> and a faster growing economy.
>> No, I love that a lot. I think a lot of
people actually don't realize but
consensus has been active in the trafi
space and trying to get them on chain
for a very long time. longer than
Ethereum has been up which is which is
long more than 10 10 and a half years.
>> Yeah, that's incredible. Um all right,
very good. I know that we are coming up
on time but I think last question for
you looking ahead as tokenization scales
more as more use cases come online as
you're working with the tradies what
does success for MetaMask look like over
the next call it 12 to 24 months and how
does something like fit into that? Yeah.
So, uh, MetaMask started life as, uh, as
a digital authority tool, uh, enabling
you to assign transactions and messages
so that you can, um, participate, um, on
web 3 on decentralized protocols. Um, it
has evolved to be a fully featured
wallet. Um, um, adding portfolio
management tooling, uh, all the
different, uh, kinds of capabilities
that that I described before. Um, we're
incredibly excited about our reward
system uh because it's still going to
take uh time. It's still going to take
years for um for this technology to go
really mainstream. And so um we can
reward people for doing things that uh
they already like to do on MetaMask and
we can show people what to do uh by
incentivizing different kinds of
behaviors. We represent the largest
distribution uh in the space and so many
protocols uh come to us to um to soon
use our reward system so that we can uh
uh incentivize our users uh reward our
users uh to to do new uh valuable
things. And so um we're moving uh to be
a neo bank, a new kind of neo bank that
uh you fully own or and are in control
of. And uh there there's a a claudebot
Mortbbot moment right now um which is I
think part of the evolution of this idea
of the development of a personal
operating system. So MetaMask is rapidly
evolving uh to become your personal
money operating system. Um and um
MetaMask represents uh the future of
finance essentially. Um it's going to be
open. Uh, it's going to be largely
permissionless. Uh, it's going to be
global. Uh, and it's going to accelerate
in 2026.
>> Very cool. And I'm very happy. You timed
it perfect. I know. I know. You've timed
it perfectly. I'm very happy that part
of the vision though does include
self-custodial stocks and ETFs. So,
absolutely. I'm very excited for that.
Joe, thank you very much. And that's a wrap.
Nhấn vào bất kỳ đoạn văn bản hoặc mốc thời gian nào để nhảy đến phần đó trong video
Chia sẻ:
Hầu hết transcript sẵn sàng trong dưới 5 giây
Sao Chép 1 Chạm125+ Ngôn ngữTìm kiếm nội dungNhảy đến mốc thời gian
Dán URL YouTube
Nhập link bất kỳ video YouTube để lấy toàn bộ transcript
Form Trích Xuất Transcript
Hầu hết transcript sẵn sàng trong dưới 5 giây
Cài Tiện Ích Chrome Của Chúng Tôi
Lấy transcript ngay mà không cần rời khỏi YouTube. Cài tiện ích Chrome để truy cập transcript của bất kỳ video nào ngay trên trang xem, chỉ với một cú nhấp.
