Lumida Wealth : Non-Consensus Invest Beyond the Ordinary Stablecoins: The Future of Visa and Payments
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Aug 7, 2025 In this engaging discussion, Ben Foreman, head of ParaFi and a veteran from KKR and TPG, explores the revolutionary potential of stablecoins in finance. He highlights their ability to reshape banking, particularly for smaller institutions, and emphasizes their role as a bridge between traditional finance and digital assets. The conversation covers shifts in payment systems influenced by fintech competition, the rise of programmable money, and the implications for regulatory frameworks. Foreman also delves into how these innovations are creating winners and losers in the new financial landscape.
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Lunch At Coinbase Changed A Career
- Ben Foreman first engaged with crypto after eating lunch at Coinbase in 2014 and buying Bitcoin earlier as a hobby.
- That experience led him to leave traditional credit investing and pursue crypto full time, calling it a path less traveled.
Stablecoins Are A Multi‑Dimensional Breakthrough
- Stablecoins are a multi-dimensional breakthrough: financial, legal, geopolitical, and technological.
- They effectively recreate M1 as tokenized, one-to-one collateralized dollars backed largely by treasuries.
Tokenized Treasuries Replace Risky Deposits
- Stablecoins act like tokenized treasuries and can be safer than deposits at smaller banks.
- This legal/format innovation reduces counterparty risk and enables 24/7 frictionless dollar movement.