00:32:45 · Oliver Smith, Doug Ricket, S2
[00:32:45] S0: I I don't even know the magnitude. I mean, uh it was some sort of USDC, you know, USDC. [00:32:50] S1: I mean USDC, the other, I think these things are like many billions, if not into the trillions yet, right? I mean, I don't know if they're 50 billion or 500 billion, but I think they are massive. Yeah. And when we looked at uh Mexico, the biggest uh Mexican peso stablecoin was order magnitude, like five million dollars. I'm like, this is crazy. This would be like one project for us. We could spin up and we could fund, you know, our our Pedro Asset Fund, it's not a giant financial vehicle, it's half a billion dollars today. We could go spin up a hundred million, you know, stable coin for Mexico or Brazil or India, and and no one has. So that was really interesting. Like, why have stable coins not taken off there? And there has been progress even in the last year, and my number may be out of date or maybe off by a factor of three or something, but it was kind of order of magnitude. Uh, it just it shocked me because I was used to thinking of USDC and Tether and like, yeah, it's fully up there. But so that was the one other side we looked at is could we be part of helping set up a stable coin for all these countries that we operate in, the names you've heard me mention, and enable them to transfer to each other. But I think um, you know, some of what's going on there, uh most of the remittances that we would want to do have USD on one side. [00:34:07] S2: Yeah.
00:34:07 · S2, Doug Ricket
[00:34:07] S2: Yeah. [00:34:07] S1: And so that one has already been well solved. And there are amazing companies. I know uh Remittly uh did some amazing work there. Transfer wise, uh right. There are people working on the remittances who have you know made huge progress, uh, sometimes using stable coins on the back end. Uh but that was that was the one that I had in mind was like, could we help set up the uh you know Colombian peso stable coin? Uh Colombia actually has some interesting like regulation that's that would be favorable for this thing. Um but you know, can we go set up Colombian stable coin, Brazilian stable coin, uh, you know, Peru, Mexico, Philippines, all these things. Um I think there's still an opportunity for innovation there.
00:34:46 · Oliver Smith
[00:34:46] S0: Exciting. Exciting. Nothing to announce, but uh but yeah, exciting to think about. Um well Doug, it it's been fascinating to sort of hear about payjoy and the solution. I was a journalist 10 years ago covering peer-to-peer lending with like Funding Circle and Zopra in the UK. So it's it's amazing to hear about how technology is really changing the lives of people around the world and and giving them access to credit. Um so, Doug, just leaves me to say a very big thank you for joining us on The Money Pot. Um, it's been brilliant having you here and hearing about Peyjoy. Uh, and thank you to everyone who's listening as well. Thank you for being part of the conversation uh and for caring about the future of money as much as we do. You can subscribe to The Money Pot wherever you get your podcasts, and you can find out more about money2020 at money2020.com. So thank you all, and we'll see you next time. Thank you for having me on. Thanks, Doug.