On The Brink with Castle Island Esther Wong (Cashi) on Making Stablecoins Spendable (EP.743)
Oct 5, 2026
Esther Wong, founder and CEO of Cashi, brings deep payments experience from U-Trip and Crypto.com. She discusses who uses stablecoin payments, why global users want digital dollars, and how Cashi is building spending and cashback tools. They explore tokenized securities, blockchain competition, AI-powered payments, irreversibility, regulatory challenges, and Cashi’s roadmap for rewards, licensing, yield, and tokenized stocks.
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Cashi Found Expats Before Freelancers
- Cashi expected freelancers and digital nomads to dominate its beta users.
- Early adoption instead came from expatriates buying groceries and online products across borders.
Venezuela Made Cards Less Useful
- Venezuelan users wanted dollar stablecoins but local merchants often accepted QR payments rather than cards.
- A reported 17% exchange-rate gap made holding dollars attractive even when spending required workarounds.
Local Liquidity Chooses The Stablecoin
- Stablecoin preference depends less on brand loyalty than on local access and liquidity.
- European regulation favors USDC, while exchange availability drives USDT demand elsewhere.