In this discussion, Kyle Samani, Managing Partner at Multicoin Capital and a crypto investment expert, shares insights on the trajectory of crypto venture investing. He dives into the rise of Solana as a strong alternative to Ethereum, highlighting its performance and scalability. The conversation touches on decentralizing infrastructure, stablecoin trends, and their growing role in global finance, especially cross-border remittances. Samani also examines emerging trends like GPU marketplaces and the evolving institutional interest in tokenized assets.
Kyle Samani emphasizes that blockchains serve as straightforward asset ledgers, accurately tracking ownership of assets while simplifying complex financial transactions.
The podcast discusses the growing adoption of stablecoins in emerging markets, highlighting their role in facilitating transactions and offering savings alternatives to unstable local currencies.
Deep dives
Kyle Samani's Journey into Crypto and Multi-Coin's Formation
Kyle Samani entered the cryptocurrency space through Ethereum in 2016 after recognizing its potential for value transfer and permissionless finance. His background in programming and finance allowed him to delve deep into the mechanics of blockchain technology, leading him to establish Multi-Coin Capital in 2017. As one of the largest crypto-focused investment firms today, it manages assets worth approximately $3 to $4 billion. Samani’s early disinterest in Bitcoin contrasted with his enthusiasm for Ethereum, which sparked a new investment approach in the blockchain sector.
The Blockchain as an Asset Ledger
Samani describes blockchains primarily as asset ledgers that track ownership of various assets, including cryptocurrencies, commodities, and financial instruments. He emphasizes that the fundamental role of a blockchain is to accurately represent assets and liabilities, highlighting its inherent simplicity. By breaking down the complex activities of finance into basic transactions, he illustrates how blockchains function similarly to traditional ledgers, making the technology accessible even to novices. This perspective aims to clarify the often-overhyped narratives surrounding blockchain technology by focusing on its core functionalities.
The Emergence and Promise of Solana
Samani discusses his shift in focus from Ethereum to Solana, driven by Ethereum's inability to address its scaling issues while gas fees skyrocketed. His experience at the Ethereum Development Conference in 2017 revealed a lack of concrete plans for scaling, which prompted him to look for more efficient alternatives like Solana. He notes that one compelling aspect of Solana was its clear product focus from founder Anatoly Yakovenko, who aimed to build a decentralized network capable of processing transactions at NASDAQ speed. This dedication to practical applications, avoiding unproven theoretical solutions, positioned Solana as a worthy investment opportunity in the increasingly competitive landscape.
The Growing Role of Stablecoins and Decentralized Financial Systems
The podcast highlights the increasing adoption of stablecoins, particularly in emerging markets, as individuals seek alternatives to volatile local currencies. Many users hold stablecoins for savings and to facilitate transactions, serving as a bridge for cross-border remittances. Samani elaborates on innovative companies, like Felix Pago, employing stablecoins to streamline payment processes, demonstrating rapid growth in transactional volume. With stablecoins' ability to enhance international and institutional financial interactions, they are poised to play a critical role in the future of decentralized finance and payment systems.
On Ep. 18 of Tokenized, Simon Taylor, Head of Content & Strategy @ Sardine, and Cuy Sheffield, Head of Crypto @ Visa, are joined by Kyle Samani, Managing Partner @ Mulitcoin capital to discuss crypto venture investing in 2025.
Timestamps:
02:30 What is a blockchain?
03:35 Solana
09:27 Pathway to adoption
12:08 DePIN
18:18 Stablecoin use cases on Solana
21:55 Where do you get started with stablecoins?
31:04 Trends for 2025
32:04 Demand for tokenized treasuries
35:03 GPU marketplaces
This episode is brought to you by Visa
A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto.
This podcast is also supported by BVNK.
BVNK is the leading provider of stablecoin payments infrastructure—helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to BVNK.com to learn more!
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We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research!
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