Banks Do DeFi Now Ft. Nassim Eddequiouaq

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Oct 6, 2025

Nassim Eddequiouaq, CEO of Bastion and expert on stablecoins, joins the discussion to delve into the realm of digital finance. He explains how Visa Direct is leveraging stablecoin technology for seamless cross-border payments. The conversation shifts to Stripe's Open Issuance, which simplifies custom stablecoin creation for businesses. Nassim also highlights the emerging trend of proprietary stablecoins, revealing the appeal of control over redemption and fraud. Lastly, they discuss banks' involvement in DeFi and SWIFT's blockchain initiatives for instant payments.

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INSIGHT

Stablecoins As 24/7 Funding Rail

Visa sees stablecoins as a 24/7 funding layer to avoid bank hour constraints and prediction risk for cross-border payouts.
Clients can send stablecoins to Visa Direct which converts and enables local fiat payouts globally.

INSIGHT

Open Issuance Lowers Issuance Barrier

Stripe Open Issuance will lower the barrier for businesses to create branded stablecoins with customizable contracts and shared issuer liquidity.
Companies will choose between full-stack issuance or wrapped models depending on control versus distribution needs.

ADVICE

Issue Your Own For Control And UX

If you need tight control over economics, UX, fraud detection or reversibility, consider issuing a proprietary stablecoin rather than white-labeling.
Use branded stablecoins to integrate fraud management, custom fees, and customer experience tightly into your platform.

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On Ep. 51 of Tokenized, Simon Taylor, GTM @ Tempo, and Cuy Sheffield, Head of Crypto @ Visa, are joined by Nassim Eddequiouaq, CEO @ Bastion to discuss Visa Direct for stablecoin cross-border payments, Stripe Open Issuance for custom stablecoin creation and more!

Timestamps:

00:00 Introduction
00:30 Visa Direct pilot for stablecoin cross-border payments
01:19 Stripe Open Issuance for custom stablecoin creation
04:44 Business demand and rationale for proprietary stablecoins
07:44 Stablecoin market evolution and white-label models
09:30 Interoperability challenges between different stablecoins
13:40 Smart contract control and stablecoin functionality
17:22 Stablecoins as platforms for business expansion
19:51 Self-custodial wallets launching branded stablecoins
24:00 Brex enables stablecoin payments for corporate cards
31:30 SG Forge deploys stablecoins on DeFi protocols
41:52 SWIFT blockchain project for cross-border payments

Tokenized is sponsored 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.

Tokenized is presented by Bridge, a Stripe company.

Just like the internet made information global, stablecoins are making money global. And Bridge, a Stripe company, is the infrastructure powering that shift. Built for speed, scale, and simplicity, Bridge helps businesses send, store, convert, and spend stablecoins instantly, all without borders or having to navigate the complexities of crypto. Learn more at bridge.xyz

Tokenized is also presented by Fireblocks

With over $100 billion in monthly stablecoin volume, Fireblocks powers stablecoin strategies at scale with infrastructure that enables PSPs, fintechs, remitters and banks to issue, move, hold, and manage stablecoins. And it’s all done securely, at scale, and with built-in compliance. Learn more at fireblocks.com

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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!

Music by Henry McLean