Expect 'Massive Adoption' of Account-to-Account Movements: zerohash CEO

Bloomberg

Watch Expect 'Massive Adoption' of Account-to-Account Movements: zerohash CEO - Bloomberg on Dailymotion

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00:00Just for those who aren't familiar with your company, tell us the elevator pitch of what you

00:05guys actually provide to some of these institutions and companies. Yeah, absolutely. Thanks for having

00:11me. In short, what XeroHash does is we provide the infrastructure, both from a technical and

00:16regulatory perspective, to partners to extend their services into crypto stable coins or to

00:22tokenized products. And so XeroHash now powers some of the largest players in the brokerage space,

00:27ranging from interactive brokers. This year, we also announced Morgan Stanley launching a product

00:31in the payment space. We work with groups like Stripe and Gusto. And in the tokenization space,

00:36we work with groups like Franklin Templeton and BlackRock's Biddle Fund. And the commonality is

00:40that we view this as a technology that we want to abstract away to allow partners and traditional

00:44financial services to access this technology. So a lot of partners in the traditional finance

00:50space. And earlier this year, Edward, there were reports that XeroHash was in late stage talks with

00:55MasterCard on a potential sale to that company. Are those conversations still taking place?

01:01Yeah, I can't comment on rumors. There's a lot of rumors in this space. Some tend to be real,

01:06some tend to be less real. Look, we are an incredibly exciting business. We've been building

01:10this space since 2017. We have an impeccable track record. We're one of the largest movers of

01:16stable coins globally. We're building with some of the largest banks in the tokenized station space as

01:21well. So there's a lot of interest around us. We're really excited to continue to scale the

01:26business in whatever form that happens to be. But, you know, 2025 has been a very meaningful year for

01:31us. We're excited to continue to accelerate that growth into 2026. Yeah, that's totally fair. I just

01:36had to ask nonetheless. Edward, you mentioned Morgan Stanley earlier. We know that you've partnered

01:41with Morgan Stanley for crypto trading on E-Trade, that platform. How is that going? What have you

01:47learned about each other so far? Yeah, look, Morgan Stanley trade have been an incredible partner.

01:53And I really think that this is one of many steps into the space for Morgan Stanley. For example,

02:00Bloomberg did a deep dive piece with Jed Finn, who leads up global wealth at Morgan Stanley,

02:05who really is at the cutting edge of thinking through the strategy, not just on the Bitcoin side,

02:10but how can this technology be fundamentally used as a rail, as a transfer mechanism from both payments

02:16and the way that value moves today? You know, we're very excited that that partnership will be

02:21going live early next year. It's a very meaningful step forward. It is the first globally systemically

02:28important bank to be launching a crypto product to their clients. And, you know, we're excited to

02:32continue to scale that partnership. Initially, they'll be launching with Bitcoin, ETH and Solana,

02:36but there'll be more to come on that front. Well, we'll definitely keep an eye out for that launch

02:41coming next year. Do you have any other bank partnerships, you know, that you haven't yet

02:46announced or, you know, potentially talking about? Yes, certainly. And I think when we talk to

02:52banks, really, one of the key areas is obviously their wealth clients. They understand that groups

02:57like Coinbase, Robinhood are very much looking to compete with them on the wealth side. And that's

03:03become increasingly clear just this week. You've seen Coinbase make a number of announcements,

03:07Robinhood make a number of announcements. So there's a clear convergence in the crypto and

03:13traditional financial space. Where we've really spent a lot of time with banks is around their

03:17strategy around tokenized deposits and tokenization more broadly around the transfer of equities,

03:22as well as their intersection with stable coins, which obviously has been a very meaningful year

03:26with the passage of Genius. But it's not just Genius that has moved this conversation forward. It is

03:31also clarity from federal regulators that tokenization is effectively a new ledger to move money

03:37to move value around. And so we see both tokenized deposits moving in tandem with tokenized

03:43dollars, effectively stable coins. And so we're spending a lot of time with banks on their

03:48tokenization strategy around their stable coin strategy. And of course, where we've been

03:51particularly public on their crypto strategy. Yeah, I'm glad you bring up stable coins and the

03:56Genius Act. You make the point that stable coins will become the world's most important

03:59payment rail. And most people won't even know that it's happening. So I guess the success is in the

04:06fact that it's a seamless transition. But I wonder from where you sit, how will people experience

04:11the end result? Yeah, look, we move value across the world globally today. And I think what's really

04:17important is abstracting away that usability. I think next year, you'll see a massive adoption of

04:22account to account movements globally, where both the blockchain at the fundamental layer, as well as

04:29the asset, i.e. whether it be USDC, USDT, RO, USD, any of the many proliferation of stable coins that

04:36exist, will be abstracted away. And that's something that we're particularly focused on, being able to move

04:40stable coins globally, whether it be a business to business transaction, or consumer to merchant

04:45transaction, abstracting that away from a usability perspective. You know, we fundamentally view stable

04:50coins as a rail. Our view on banks is that they will effectively hold dollars at rest. And stable coins and

04:56tokenized deposits will be an unrivaled way of moving money in motion. And that's what we're really seeing

05:01starting to occur.

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