On Ep. 5 of Stablecoin Stats, Anthony Yim, Co-Founder @ Artemis and Andrew Van Aken, Data Scientist @ Artemis are joined by David Weber, Head of PYUSD Ecosystem @ PayPal to discuss PayPal's strategy for PYUSD and more!
On Ep. 5 of Stablecoin Stats, Anthony Yim, Co-Founder @ Artemis and Andrew Van Aken, Data Scientist @ Artemis are joined by David Weber, Head of PYUSD Ecosystem @ PayPal to discuss PayPal's strategy for PYUSD and more!
Timestamps:
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A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto.
This podcast is powered by Artemis
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We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research!
Music by Henry McLean
Andrew Van Anken 00:10
Welcome to tokenized the show focused on stable coins and the institutional adoption of tokenized real world assets. My name is Andrew Van Agen, data scientist at Artemis, a crypto analytics startups. I'd like to welcome you to stablecoin stats, a monthly show on tokenized podcast feed dedicated the stats behind the tokenized stable coin market. Joining me today, as always, is my colleague and friend Anthony M co founder at Artemis. Anthony, how are you?
Anthony Yim 00:33
Sir? Very good. A bit jet lag, but I am hanging in there with lots and lots
Andrew Van Anken 00:37
of coffee. And for the first time ever, David Weber will be our first official guest on stable coin. Stats. David Weber is the head of pyos D ecosystem at PayPal, sir. You are also at token, and you look great. What's the secret? Lot of sleep. No, I got back like five days ago, so I'm recovered. Well, it's an honor, Sarah, free to join us here as the first guest on the show. A quick disclaimer before we get into things, I need to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial investment or legal advice. Do your own research. And lastly, before we get into the stats, I'm thrilled to remind you that the podcast is made possible by Visa and powered by Artemis. Gentlemen, both of you were at token 2049, and I, of course, did not go. I was sitting at home coloring charts in as I always do, but it seemed like there was a lot of stable coin talk. David, what was your impressions of it? How did the conference compare to previous years?
David Weber 01:35
I thought it was great. Definitely busier with the growth, and just like the recent expansion of the ecosystem, right, the acquisitions, the IPOs, that we've been seeing. So for PayPal and pyusd, we've obviously, and we could talk about this later, but we've obviously grown a lot. People are asking questions on, you know how and why and where our focus is, and a lot of the feedback has been around PayPal just having this big brand that can extend into pyusd. So when you think about what PayPal is really best at a lot of the conversations around payments, but it's also around on and off ramps, it's connectivity to local bank accounts. And I think people were asking a lot of questions around, like, you should be focusing on that more, and they're dead, right? And we are. So when we talk about on and off ramps, you know, expanding pyusd access into more countries, into more bank accounts, and everywhere PayPal is and that's something that we're focusing on a lot, and that's one of the biggest takeaways that I had from the conference, Anthony. And what was the best party? Because it seemed like you were just partied all the time from the pictures you
Anthony Yim 02:36
sent me. I was trying to be a good founder and focused on work, and so I went better every day. I'm getting to the age where getting good night's sleep is way more pleasant than partying.
Andrew Van Anken 02:50
That's fair. That's fair. Someone's gotta answer the emails and the telegram messages.
Anthony Yim 02:55
But yeah, I mean, for me, I think the biggest reflection actually happened on the flight back from token 20 491, of my best friends from Harvard Business School. He is the biggest skeptic of crypto. When we started Artemis, he was like, this is like, so dumb. Like, it just doesn't make sense. And he messaged me, saying that, hey, like, Anthony, I was completely wrong. I did not see the vision of crypto, and now I see it. And I was like, wait, what do you mean? What happened? And he was, like, stable coins. And I just felt so, like, validated. And just starting a startup is super hard, and there's definitely moments where you're like, oh, wait, this is the right direction, especially like post FTX and all this stuff. And I think it's just like, a really incredible feeling to, like, have gone through the trenches, and then, like, Now on the other side, we're starting to see everything line up. And so, like, I think that kind of summarizes what happened at the token this past year, is like everything was about stable coins. Just like stable coins, they weren't stable coins, and it's legit companies like PayPal, Stripe and more, like, actually building right? It's not just like grifting anymore. And so we've come so far, and I'm just incredibly proud of everyone in the space and all the different folks who are building and, yeah, it's just super bullish in the future of crypto.
Andrew Van Anken 04:06
Yeah, was there anything that surprised her, or is there anything that changed your mind? David, coming out of telecon,
David Weber 04:12
I was surprising to see, like, so many different logos that I, like, don't even know, knew existed out there, just so many new businesses and protocols that were wanted to promote themselves, like you'd go on the floor. And I remember, like, a year ago, like 90% of those things, those logos, are companies that you didn't see back, you know, a year ago. So a lot of new companies starting up, and, you know, wanting to showcase what they're doing, which is great to see. And there's a good amount of retail presence that look good amount of like average people walking the floor, which is great to see. Wanting to learn more about stable coins and just the general crypto space and how it's growing amazing. That's awesome.
Andrew Van Anken 04:53
Let's hop into data. Shall we? So we start off every month, essentially. Me by showing where we are in terms of stable coin supply, we're actually over $300 billion in supply right now. But this past month, we crossed over $300 billion in supply for the first time, up 72% year over year. And this is actually accelerating. Growth rates are accelerating from the previous month in terms of supply. And you'll notice a very small little color on the top of our chart right here, and that is the launch of plasma. And to really show how this is trending, and to show you the actual craziness of plasma, launching plasma, which is a new layer, one blockchain that has gotten investment from tether, partnered with binance, added $6.2 billion in supply month over month. Ethereum continues to be the king. Of course, adding $11 billion in supply. But what really surprised me down here is Tron. Essentially, we saw $5.2 billion flow out of Tron into ecosystems like plasma, onto Solana. Solana gained about $2 billion I'll start with David. David. I mean, there's been a lot of new layer ones being announced. Tempo, plasma, you name it.
David Weber 06:08
What are your thoughts on these new chains, and where do you think their best sources of opportunity are? I think it's really cool. I mean, plasma has obviously exploded on the scene. I think the whole like concept of the stable chain, I guess you can call it, where you had plasma, you have tempo, you have arc as well. And plasma has really set the stage here, just with the crazy growth that we're seeing, I think it's like Ave and then usdt is being on plasma is being borrowed and used in the ecosystem, which is awesome to see. I think it's really smart. Like usdt doesn't really have a native chain. I think that's purposeful. Like tether probably doesn't want to place any bets yet, at least, right? We don't know what's going to happen, but they want to proliferate their stable coin everywhere, which makes sense. And I think py USD would, we would probably say the same thing.
Speaker 1 06:58
So I think it's smart what plasma did, and what the other chains are doing, like USDC on arc, probably a reasonable next driver of growth for them, being a public company now, and you know, they've got to find ways to grow, so that makes sense for them. When PayPal chain, we're exploring a lot of different things. I think there's a lot of things we have to do, like, if we ever launch a chain or before that, we have a lot of work cut out for us. Right now. We can get into more, but not in sight right now, PayPal chain we want. We want pyusd everywhere. We don't want to, like, pick a, you know, pick our own chain as our favorite. So, yeah, no. Makes a lot of sense. What
Andrew Van Anken 07:34
do you guys think about this concept of, like, high transaction fees? So I mean, what really jumps out to me here is Tron losing $5.2 billion in supply. And David, you mentioned that a lot of right now plasma is defi enabled on Ave and whatnot. Do you think that people now are starting to shift to payments because we have these much lower chains that offer almost zero transaction costs?
Speaker 1 07:59
Yeah, I think that's a reasonable thing to think. I think we've had low transaction fees for a while, like pyusd launched on Solana with our focus, and our focus was around everyday payments, so low transaction fees, but now you got, like, this whole notion of gasless transaction, like it's free, and that's really cool. So I think that piece that we're moving towards is going to be important for payments even more. So even though salon is like, could be pennies, you never know what's going to happen with the chain. It could see a lot of congestion, whatever. But when they have dedicated space for these new chains, having dedicated space for gasless transactions, that's really interesting, and that's something that PayPal is definitely looking at, and we'll see how that plays out. And then, you know, back to usdt. It's just like it makes a lot of sense for these chains to build a home for usdt. So gasoline transactions one of the ways they can differentiate.
Unknown Speaker 08:49
So
Andrew Van Anken 08:50
looking at biggest gainers month over month in supply, we can see tether at an additional 6.7 billion, where even though a lot of supply flew out of Tron, it actually was redistributed to change like plasma and Ethereum. And then if we look a little further down, we have p, y, u, s, d, David, look at you right here, adding $1.3 billion in supply. And well, that's actually almost more than 100% growth month over month. David, can you enlighten us on what's leading to your guys's success this month?
Speaker 1 09:24
Yeah, I think just generally, like sort of a long story. But over the past six to eight months, with the reinvigoration of the refocus of PayPal in the space with the circle IPO, everything going on with acquisitions, you know, our team is has just had a renowned focus on pyusd, and we're being very thoughtful and tactical on how we deploy our budget incentives in the space. We're choosing like specific partners that we think will create lasting demand and, you know, sort of sticky supply for pyusd. So. And the hope and the goal is that we're going to grow pyusd supply and demand and liquidity in the ecosystem as PayPal builds out some products, and, you know, launches in new countries for pyusd settlement and on and off ramps to sort of like meet that new supply that we create out in the ecosystem with PayPal demand an organic demand. So I think one of the interesting things is PayPal has the distribution already. We have 400 million users, 35 million merchants. So we've built out that connectivity to local Fiat and local bank accounts. We've been doing that for 25 years. The brand's pretty ubiquitous across the globe. And so to me, really like, that's what everyone's trying to get after, is the distribution to non crypto native users. And when you look at like, what circle's trying to do tether is trying to do a circle with the, you know, their payments network, we already have that established. What we're lacking is the liquidity and the on chain sort of availability of pyusd, so that when we go to our Merchant base and they're all talking to us about stable about stable coins. Now we can suggest, and we can effectively, like, have products around py USD support, because there's liquidity out there for them to on and off ramp in the ecosystem. And that's one of the things that we're focusing on. Primarily, is just growing that liquidity out there. And we're doing it through many different ways, one of which are, you know, incentives out there, but also like creating organic, lasting PayPal demand with products that we're going to roll out over the near
Andrew Van Anken 11:30
future. Yeah, and I want to, I want to jump ahead, actually a little bit, because we have a chart here of stable coin supply of p, y, USD over time. And you can see it's a little flat in between October to June 2025 but then all of a sudden, almost everything starts spiking. So you see spark Camino Athena is now even diversified. But you also see, what I found was super interesting, is this purple line, which is Paxos, which probably indicates some organic usage of pyusd as well. So it really seems like everything is increasing at exactly the right time, and you're seeing this kind of both organic use of pyusd and in defi. Yeah,
Speaker 1 12:10
we're Tai you know, I guess we'll take credit again for the stable coin Bull Run, just like we should, just like in 2020 when we launched our crypto product, like the ability to buy and sell tokens, there was also a bull run. No, I'm kidding. We won't do that. But obviously our growth is on a lot of these different applications that you have listed here. And you know when I mentioned, like the strategy that we're that we're running, a lot of it has to do with decentralized money market apps like Ave Camino spark to entrench py USD to create flywheel growth, to borrow py USD and use it out in the ecosystem. We feel like that's a really good strategy. And then Athena taipped us to activate py USD as collateral for usde, which is basically just like diversifying their applicable collateral for their stablecoins, which totally makes sense. I mean, it's definitely smart on their end, just to diversify and layer zero, we've seen some growth we just launched, and you know, we're gonna roll this out over the next few weeks. Pyusd Zero, which lets py USD be bridged to any chain that layer zero supports through their like oft standard, which just creates more addressable market for us out there. And you know, many chains want us to issue natively, which totally makes sense. And you know, we can't do every chain native, so this is kind of like a way to serve that, that need, and see how the pyusd and the branding does permissionlessly out there on any chain, and see how we can perform. So I'm really excited about all those, all those activations.
Andrew Van Anken 13:40
So David, like we've said before, we've seen as actually a really healthy organic supply increase of pyusd on centralized exchanges. I'm curious where you guys are seeing increased adoption of stable coins, and are there any regions that pop out to you as being Prime for stable coin adoption?
Speaker 1 13:57
Yeah, I think it matches closely with like, where you're seeing most stable coin adoption. Latin America is a big, big market for PayPal, and we bring accessibility to hold stable coins with pyusd, because people know PayPal, they know the brand. They're comfortable, and you know their local currency may not be the best. So the biggest use case, I think we all know is, like, it's easier to hold dollars in some of these countries where the currency isn't as strong, and that's one of our biggest strategies, really, but that's where PayPal can see the most adoption is just like you log into your PayPal account, you can buy py USD for free in the app, and then just hold it. And it's just much easier to, like, buy stable coins than get access to, like, Fiat dollars, I think, around the world, and you know, we'll see how long that lasts, but that's the biggest use case for us in some of these emerging markets, like Latin America. But we're in, like, over 100 countries. But there's certain countries that PayPal is not as popular in for payments and not as popular from a like an. App perspective, like not many people use the app, we think that the narrative is like, p, y, USD, and stable coins will bring us a lot of net new users in some of these countries that know the PayPal brand, but there's like, better options for them for payments in that country, so they don't necessarily need to use it or want to use it. But now, with the stable coin being free to get in and out of their local Fiat or local bank account. They're maybe more willing to, like, buy pyusd, send it to friends and family, use it for cross border transactions, B to B payments. All these like top use cases and ultimately become PayPal users and more frequent users. Interesting. So it's almost like the first interaction with PayPal some customers could have is through blockchain and blockchain technology, absolutely, like in many of these countries, we have the PayPal app, but the services are limited in the country relative to another country, just because of our licensing and what we can offer. So like py USD can be available, and we want to make it available as sort of like the homepage, the front screen and what you see when you log into the app. So that's it's gonna be interesting. Wow, very cool.
Andrew Van Anken 16:08
And finally, Anthony, famous for sending me whiteboard terrible sketches, which are completely illegible to me. I woke up this morning and I saw this not applicable to our business, though. Can you please explain to the people at home
Anthony Yim 16:22
what this is? Yeah, well, I mean, this was like a product planning session I did with a bunch of product managers from Venmo back in like 2013 and if you you squint, you can see a whole bunch of like terms like cash out and peer to peer and bounces and and so for the audiences members that don't know this, I was an early engineer at Venmo. I started there back in 2013 and up, staying there for six years. And of course, Venmo was then acquired by PayPal, and so it's just really cool to like to come back full circle where we're chatting with David from PayPal here. And of course, like, I don't think PayPal was doing much crypto stuff when I left in 2019 and it's really cool to see, like, PayPal go all in into crypto now and and so I think the question I wanted to ask is, like, we see a lot of new features around crypto and Venmo that happened after I left, especially like being able to save you can hold pyusd and earn interest In the Venmo app, and plus, there's a new announcement from PayPal appearing a couple of weeks ago on PayPal world, where every Venmo and PayPal account are now connected. So I'd love to hear from David, like, what's the vision there? Like, what are you most excited about with Venmo and crypto in the future? Because, like, oh, it's never part of that. And it's cool to see you guys, like, really innovating that space.
Speaker 1 17:39
Yeah, for sure. I mean, Venmo is like, such a popular app in the US, it's pretty crazy. It's so easy to, like, pay friends and cash out
Anthony Yim 17:47
and around the world too. Actually, everywhere I go, I'm like, hey, if I'm like, traveling in Asia or Europe, and I actually mentioned Venmo, people actually know what Venmo is, even though they can't even use the app. I think that's the part that's like, the most sort of crazy to me, we're
Speaker 1 18:02
almost like becoming a bigger brand than PayPal in some places. Yeah, that's an interesting thing for us to think about, but the pyusd integration of Mo is just like a natural fit for us. And, you know, obviously we offer rewards there as well, 4% in rewards to hold pyusd balances. So people hold a lot of balance on Venmo when they pay their friends. Some people use it as like a quasi bank, or it's not a bank, but they use it as a, you know, account, and ultimately, like you can just transfer your balance really easily over to py USD and earn 4% and that was our goal with that. I think it's like actually hitting harder with Coinbase, changing their reward structure recently. So excited to see, like, if people come over to Venmo and, like, earn the rewards and then, you know, continue to pay friends and not have to leave the ecosystem. But yeah, you mentioned PayPal world and like, the things we're doing on connecting, like, all the dots, all the applications and Venmo and PayPal. I think it's kind of maybe a little bit of a running joke, but we finally have integrated the two apps where you can, like, move your Venmo balance to your PayPal balance. And it actually, coincidentally started with the pyusd support, because that's like, the fact that sort of, like, back in the day, the way you could just move your Venmo balance to PayPal, because both supported pyusd, and you can, just like, do an on chain transaction, but now it's very much connected. PayPal world is, like, super exciting, and I think the stable coin fits very nicely into that narrative, because now you're linking, like, the major destinations of money movement to your paypal app, and obviously stable coins. What's a better instrument to settle that transaction? So you have, like, exposure of many millions of PayPal users to move money to. I think we just activated the first one, which was a bank in India. Right now you can, like, move dollars to a bank in India, or, like, friends and family. Emily and India. Don't quote me on that. I don't know exactly how it works. I have to probably do a little more research. But pyusd, obviously would be, like, the best settlement engine for that to either pre fund a transaction or, like, just settle directly. And then now you've got, like, you know, a lot of pressure on that destination, which is probably a very large player in the cross border space to support py USD, because they're going to get so much demand from PayPal to want to send transactions through PayPal world. So it's a various strategy from the team to launch that alongside the stable coin.
Andrew Van Anken 20:32
Yeah, it seems like now that you have stable coins and you're able to settle transactions, gain yield, do all these things in almost like one product, if you will. The opportunity space becomes so much bigger before you're only saying, like, okay, it's just a PDP app. I can only send something. But now we're seeing, you know, companies attaching credit cards, yield, sending across border, not just like in the United States. And so, yeah, it seems to me like stable coins one product, but now it just enables 15 different banking products, if you will. Yeah, no, absolutely. And just to clarify the we integrated with the unified payments interface in India. So it's like an easier connection to move Fiat across borders, and then that then we'll be you have to, like, link your local bank account or local account to get the cash the Fiat. So it's a big corridor for us as well. Yeah, we're seeing us a lot in data of like, how stable coins are kind of transforming and becoming different banking products and even changing the nature of banking in general, or sending money in general. So for example, mini pay, an app that launched in Africa that's owned by Opera. They rolled out mini pay in, I think, believe it was September 2023. Just celebrated their two year anniversary. So congratulations to them. But you can see, this is, this is, we're looking at stable coin transactions on the sello network, and we're pretty flat. And then also had mini pay launches, and it goes from about about a million per month to peaked at 175 million a month, and is now like near $150 million a month. I actually curious, Anthony, getting your thoughts on this slide, because for better or for worse, now with Venmo, you know, if I borrow a tissue from you, you can, I can send you 32 cents for the actual tissue, and you see a bars. Now, people are like, oh, you know, I'll cover that $4 beer for you. But, yeah, I'm curious your thought, like, Does this make sense that now you have, like, such faster and essentially zero fee transactions that you can that the velocity of transactions, you know, exponentially
Anthony Yim 22:39
increases. Yeah, the conversation with David in the last like couple of minutes really reminded me of what our good friend Nick Carter says about stable coins and crypto, which is that it's stalling for finance, right? And so really, like we're seeing, and I think we as Americans here, just like are not aware of, like, how bad financial tools are in the rest of the world. And finally, we have this thing that allows everybody, literally, with an internet connection, to partake in finance and payments. And we're like, seeing that before our eyes at a rate that's much faster than I could possibly imagine. This is not happening like a year ago. And so I think that's I'm still like, in shock.
Andrew Van Anken 23:18
Yeah, absolutely. And this is very crazy to make. So here we're looking at rainn, a company that recently raised our series B. We were doing some smart contract sleuthing over the weekend, and could now see that Rain's estimated card spend across different networks is approaching $100 million a month from about $1 billion a month a year and a half ago. And what's pretty like, interesting to me is, like, if you look at these countries where a lot of these credit card products are seeing the biggest uptick. So David talked about UPI in India. And so here we're seeing ether phi, which these is raining for its credit cards. About 13% of their traffic is from India. And then you have companies like red, dot pay where you're seeing, okay, Bangladesh, India, Pakistan, Indonesia. So you're like, really seeing, like, these emerging market countries adopting these credit card products, because there's while they have like, some infrastructure, it's almost like crypto is now their first product, or their first foray into the card world. And obviously, not surprisingly, we're seeing a lot of these transactions spend on these like low cost chains, like polygon. Here scroll is another ZK powered blockchain that has extremely low transactions. So yeah, does this make sense to everybody that I'm curious? Tai, does this like what you guys are seeing at PayPal, where a lot of these emerging market countries are Astonishingly, seeing uptick of these products?
Andrew Van Anken 24:42
Yeah, I know it definitely does. I mean, just if you think about it taking a step back, a lot of these are permissionless apps that offer that ring lets you issue a card off of which is kind of crazy to think about. Like you can borrow stable coins and then, you know, ultimately get, like, an off ramp for it, the debit card or some sort of. Card, which I think is, like, why you're seeing such a big uptake, because it's just so much easier to do and easier to, like, play around with. I think I'm looking more into scroll. That's interesting. The growth there, yeah, ether phi, totally taken over the scroll chain, right? Yeah, through ether phi, right? And ether phi, yeah, they're obviously very successful. I know like rain, they're one of the biggest I think card issuers, like, and they've executed, like, super well on this strategy. I think PayPal can, like, take a big lesson from this, because we don't really, we don't really do cards that well. I think we have cards, but, like, it's not, maybe not as competitive, in my mind, as other products out there. And I think when you think about stable coins and creating, like, permissionless structures around cards, it could get pretty interesting. Yeah, exactly. And yeah, like you said, like permission in those chains, as long as you have a smartphone, access to stable coins, you can easily get started and spend. You don't need an address. You can just get on your phone Exactly, exactly.
Andrew Van Anken 25:55
So finally, we have to end with AI, because everyone's talking about it, but I think it's actually represents something interesting where we're kind of seeing, like the third leg of this stable coin increases banking, like products where you have stable coins that you can send to people on mini pay, on PayPal and Venmo. You can also do card spend, but you can also access yield now in extremely unique ways. So here, what we're looking at is a chart of USDA i, which is a company that lends out money to almost like Neo clouds or GPU farms. And so the idea here is that maybe instead of having these like private credit opportunities where private credit funds loan to different Neo clouds, you actually do this through a stable coin. And you know, if you're just like on your app within your phone, you can almost like access these private credit like opportunities.
Speaker 1 26:57
I'm curious your thoughts, David or Anthony, how do you see this? I know genius is only short term Treasury products, but this could almost open a new frontier in how people access yields around the world. Yeah, this is really interesting. I mean, obviously AI and just general demand for, like, hardware, is, like, skyrocketing. I think this just takes advantage of that. It's really like sort of an economic arbitrage where, like, my understanding is, like, people have the data farms right, where this entity or AI will, like, have a lien on that ultimately, and they'll essentially lend based off how many chips or how much hardware is in that warehouse, and then like, distribute that to the USD stable coin holders. And it's such a good mutual benefit, because, like, the industry is taking off so quickly that people might not necessarily want to, like, buy hardware, because it's like, it gets outdated pretty quick, and then they're willing to, like, pay a large amount for like in terms of yield or cost to access these farms, and then, like, do what they need to do, and not have the hardware get outdated so quickly. And then, you know, on the other end, the stable coin holder for USDA, I can benefit from that, like, economic situation, but this is new to me. So obviously, like, I'm not the best person to, sort of, like, run through it, but that's kind of how I understand it. And it just, it and it just, it makes a lot of sense. I mean, it's gonna be up only from here as it's just like an option on AI growth in the world, which is great,
Andrew Van Anken 28:30
yeah, that essentially anyone can access, right? We have tokenized stocks, but they're not traded as liquid. But here you have this almost $600 million immediately ran into AI based stable binds, which is very cool to say, Anthony. What are your thoughts on this?
Anthony Yim 28:44
Yeah, my initial thought is that actually, and this ties back to my other learning takeaway from token is that these are actually not, like really stable coins anymore. Like stable coins were always in my mind, like a Trojan horse and like the first use case for crypto, but really, like this is just tokenized private credit that is literally what it is. It's just labeled a stable coin, because obviously you can hold USD AI, and I believe it's pegged to US dollar, but there's the SUSD AI, which is the state version that goes up in price as it accrues yield. And so I think, to me, this is a really, really exciting development the space where, like, we're just seeing, like maturation of finance on chain. It's going from cash, usdt, USDC, PY USD to something that is not used for payments, and it's actually just private credit on chain that anyone can partake in, as long as you have a non chain wallet and an internet connection. And so I'm just very, very excited to see like, this is the future of credit for anything. It doesn't matter what's AI or infrastructure or and it's wild because this is in some ways deepened too. It's deepened in a very different way. But ultimately, what's, what about infrastructure is that it's very costly, it's high capex. And now you have this crypto solution that lets you raise money from anyone in the world to, yeah, pay for your infrastructure capex costs. That's that's insane, that's incredible, like, and we're here now in 2025 seeing it happening in real life. David,
Andrew Van Anken 30:20
well, thanks so much for joining us today. Where can people find more about you and pyusd? Yeah.
Speaker 1 30:27
Well, if you want to follow me on x at Webber gems, one being Weber, feel free to hit a follow. And if you want to discuss pyusd and potentially partnering, you can find me on LinkedIn, shoot me a note. And Anthony, how about you? Where can people find more about
Anthony Yim 30:42
yourself? You can find me on x. My handle is Anthony Yim, a, n, T, H, O, N, Y, Y, M. And, of course, you can find Artemis on Artemis dot, x, y, z.
Andrew Van Anken 30:51
And finally, Anthony Yim, you will be speaking at FinTech NerdCon, November, 19. And what will you be speaking on, sir,
Anthony Yim 30:59
yeah, so advent of dark con. I'm going to be presenting a updated data set from our super popular stable coin payments survey for over the summer. We're going to be presenting a new update to it to see how far we've come along in 2025 on stable coin payments. So come see me in Miami. We'd love to meet you. See you all soon.
Andrew Van Anken 31:18
Well, thanks everyone, and if you haven't already, please subscribe to tokenize on Apple Spotify or wherever you podcast. And finally, if you enjoyed the show and want more, leave us a review. It legit. Helps others find the show. Stay stable everyone.