Raoul Pal: The Journey Man

The Coming Explosion in Stablecoins: Trillions Will Be Tokenized

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Jul 3, 2025
Charles Cascarilla, Co-Founder and CEO of Paxos, shares his insights on the evolution of crypto infrastructure and the transformative power of stablecoins. He highlights how these digital assets can streamline international transactions and provide liquidity to underserved markets. Cascarilla also discusses the importance of building a secure financial infrastructure and the potential challenges posed by regulations. This engaging conversation explores both the benefits and risks of stablecoins in the modern financial landscape.
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ANECDOTE

Early Bitcoin Discovery Story

  • Charles Cascarilla discovered Bitcoin through an Elliott Wave newsletter in April 2010.
  • He saw blockchain's potential to create a safer, more efficient financial system amid the financial crisis.
INSIGHT

Stablecoins Solve Dollar Access

  • Stablecoins provide dollar access to underbanked and overseas users hindered by traditional banking.
  • They enable instant, programmable, low-cost payments and reduce reliance on slow, multi-hop correspondent banks.
INSIGHT

True Stablecoin Safety Explained

  • Paxos stablecoins are backed by segregated US Treasury assets, making them safer than loans to issuers like Circle or Tether.
  • Properly built stablecoins act like narrow banks, segregating payment systems from fractional reserve banks.
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