Tokenized Why Banks Are Launching Crypto Products Ft. Oli Harris, Haonan Li & Raj Parekh
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Jul 14, 2025 In this conversation, guests Oli Harris, CEO of Arda Global and ex-Goldman Sachs MD, Raj Parekh, CEO of Portal Labs and a Visa crypto veteran, and Haonan Li, CEO of Codex, explore the exciting developments in crypto products offered by banks. They discuss Monad's acquisition of Portal for stablecoin payments, BBVA's bold move to provide Bitcoin and Ether trading for retail clients, and the competitive landscape among blockchains. The trio also delves into the importance of integrating stablecoins within traditional finance and the future of non-dollar backed stablecoins.
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Raj Parekh's Acquisition Journey
- Raj Parekh shared his journey in the stablecoin space, highlighting common questions from Web2 companies about chains and building solutions.
- The acquisition by Monad Foundation was an organic fit leveraging Monad's architecture and Portal's mission.
Vertical Approach Wins in Stablecoins
- Vertical integration and focus in blockchain foundations help in building better stablecoin infrastructures.
- Pure general-purpose chains struggle to address specific stablecoin challenges which vertical chains can solve.
Foundations Go Product-Led
- Blockchain foundations are evolving into product companies offering unified tools and operating systems tailored to specific markets.
- This vertical, product-led approach simplifies blockchain adoption especially for Web2 clients.