On The Brink with Castle Island Kedian Sun (Level Money) on Stablecoin Expansion in DeFi (EP.617)
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Apr 29, 2025 In this discussion, Kedian Sun, founder of Level Money, dives deep into the rapidly evolving world of stablecoins in DeFi. He contrasts fiat-backed stablecoins with alternative assets and navigates their unique roles in decentralized finance. The conversation sheds light on LevelUSD and its aspirations within the Ethereum ecosystem, revealing the challenges of compliance and transaction costs. Kedian also highlights how bear markets can spark innovation, catalyzing unique opportunities for growth and product development in the crypto landscape.
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First Cross-Border Stablecoin Use
- Kedian shared his first cross-border stablecoin transaction which impressed him by its speed compared to traditional banking.
- This experience increased his conviction in the utility of stablecoins in real-world scenarios.
Yield-Bearing vs True Stablecoins
- Kedian distinguishes yield-bearing stablecoins from true stablecoins, noting yield-bearing ones appreciate in value.
- He compares the growing market for yield assets to traditional fixed income, which has many options.
Competition Drives Stablecoin Innovation
- Kedian believes it is good for the stablecoin industry to have many new stablecoins competing and innovating.
- He suggests early winners in new industries don't always win long term, so competition spurs progress.