Talking Tokens

Billy Miller, COO of Securitize, a transfer-agency veteran who led the Pacific Stock Transfer acquisition. He explains how transfer agents moved from back-office role to on-chain infrastructure. Topics include the Exodus tokenization milestone, why early tokenization focused on the wrong assets, 24/7 trading and DeFi utility, institutional standards, and a five-to-ten year shift to tokenized markets.

In this episode of Talking Tokens, Jacquelyn Melinek speaks with Marc Boiron, CEO of Polygon Labs, about the company's expansion into payments through its new Open Money Stack and why connecting onchain systems to real world finance is critical for keeping capital onchain. Marc explains why blockchains, stablecoins, and wallets are converging to make payments easier than traditional correspondent banking networks, and how Polygon's acquisitions of Coinme and Sequence can create a unified API for enterprises.He walks through why general purpose blockchains can't excel at everything, how Polygon is doubling down on its payments reputation, and why the next inflection point happens when merchants, businesses, and developing countries adopt stablecoins at scale. The conversation covers cross-border payments, FX markets, enterprise treasury strategies, the future of Visa and SWIFT, and why blockchain infrastructure will capture hundreds of billions in network value over the next decade.TIMESTAMPS(00:00) – Intro(01:17) – Why payments are finally having its moment(02:24) – Banking networks and their unanswered questions(03:40) – Stablecoins providing certainty on fees, arrival time and transaction visibility(04:05) – How banks view stablecoins as risk vs opportunity(05:20) – Timeline for bank adoption: JPMorgan's Kinexys and chains in 2026(06:39) – Stablecoins growing beyond trading to cross-border payments and dollar access(07:42) – Why Venmo still beats USDC for domestic payments(08:28) – What's driving stablecoin growth from $300 billion market cap(10:01) – Whether stablecoins replace traditional rails or just upgrade infrastructure underneath(11:19) – Users will know they're using stablecoins for the next 3 to 5 years(12:14) – When stablecoins become ubiquitous with national currencies(13:15) – Polygon's shift from a general purpose chain to payments specialization(15:06) – Blockspace commoditization and why differentiation matters(16:24) – Doubling down on payments through simplified integrations(17:05) – How the Open Money Stack solves the 5 to 10 vendor problem(18:30) – One API for on-ramps and off-ramps, wallets, chains and interoperability(19:07) – Making payments fade into the background and eliminating cross-border friction(20:11) – Keeping money onchain instead of continuous on- ramp and off- ramp cycles(21:16) – Creating an onchain world with DeFi, tokenized bonds and ZK identity(22:03) – What's available today: Morpho, Franklin Templeton and merchant acceptance(23:24) – Enterprises keeping 1 to 3% of capital onchain and that increasing over time(25:05) – Why 2026 is the year enterprises implement stablecoin strategies at scale(27:14) – Consolidation trends and how Polygon's Open Money Stack remains open (28:49) – Its Coinme and Sequence acquisitions for better payments infra(30:06) – Integration timeline:one API in six months(31:02) – FX markets as the dark horse opportunity in onchain payments(33:00) – Japan, Brazil and Singapore leading non- dollar stablecoin growth(34:33) – Polygon's mission to move all money onchain within ten years(35:45) – SWIFT, Visa and the trillion dollars in network value being disrupted(37:09) – How Agglayer and Trails capture cross-chain payment value(37:31) – Where stablecoins show up in everyday life over the next 3 to 5 years(39:23) – Final advice: don't bet against blockchainsESSENTIALSYou can subscribe to the podcast on Spotify, Apple or YouTube.Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcasts: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagramhttps://www.instagram.com/_talkingtokens/Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

Nikil Viswanathan, the Co-founder and CEO of Alchemy, shares his insights on the vital role of blockchain infrastructure in shaping the future of finance. He explains how developer adoption, rather than market prices, signals crypto's true potential and why traditional banks must adopt blockchain to remain relevant. Nikil also discusses the transformative impact of stablecoins, their relevance in emerging markets, and how AI will reshape creative roles in software development, blending engineering with design.

Ben Nadareski, Co-founder and CEO of Solstice Labs, shares insights from his physics and trading background to explain how Solstice provides institutional-grade, permissionless yield for everyone. He discusses scaling to over $300M in TVL and why retail and institutional users access the same transparent yields. Ben warns that many DeFi projects are simply backdoors to traditional finance. He also emphasizes the importance of due diligence in yield sources and how Solana's composability drives adoption in crypto.

In this episode of Talking Tokens, Jacquelyn Melinek speaks with Kevin Lepsoe, Founder of ETHGas, about blockspace and how a transparent blockspace futures marketplace could redefine Ethereum’s core economic engine. Kevin explains why Ethereum’s 12-second block time creates fragmentation, poor UX, failed transactions, and institutional reluctance and how slicing blocks into millisecond-resolution windows unlocks a completely new operating model for L1s.He walks through his background as a trader during the 2008 crisis, why MEV behavior can mirror predatory high-frequency trading tactics, and why institutions won’t put billion-dollar balance sheets onchain in the current environment. Kevin also explains how ETHGas enables instant confirmations, how blockspace futures create the first native yield curve on any blockchain, and why this unlocks fixed-income products, cross-chain arbitrage, and a path toward deeper L1 liquidity.They discuss its upcoming Token Generation Event (TGE) as well as validator incentives, governance design, airdrops, its Open Gas Initiative, and how gas abstraction can onboard everyday users into an easier Ethereum experience. Kevin also shares why real-time Ethereum could support new classes of trading, lending, and insurance products and why 2026 may be the year blockspace becomes a mainstream asset class.Timestamps(00:00) – Intro (01:14) – Kevin’s path from options and volatility trading to bitcoin mining and DeFi Summer (02:29) – Seeing the full mapping from money and equities to interest rates and credit onchain (03:56) – Why big trading firms refuse to put assets onchain with MEV and liquidation risk (05:28) – How MEV behavior mirrors HFT and why 12-second latency is too exploitable (08:12) – Fragmentation across L1s and L2s and why real-time Ethereum consolidates liquidity (11:17) – What blockspace futures are and how they allow real-time Ethereum execution (13:16) – Turning a single block into hundreds of slices and fixing MEV through design (15:06) – Real-time confirmations 50 ms execution and implications for trading and lending (17:19) – Impact on DEXes, AMMs, liquidations and validator revenue with faster blocks (21:49) – ETHGas integration path validators, wallets, RPC endpoints and expanding blockspace share (23:48) – Targeting 40% of blockspace, validator incentives and economic alignment (27:06) – ETHGas upcoming token launch governance design and why users must control real-time Ethereum (31:29) – Open Gas Initiative: hiding gas from the user and rebating spend back via tokens (33:29) – Airdrops for heavy gas users and aligning with the people who built Ethereum’s demand (35:07) – Conversations with Ethereum researchers and the right vs wrong path for blockspace (38:38) – L1 and L2 dynamics bringing real-time execution across the entire Ethereum stack (41:09) – How real-time Ethereum helps ETH break major price thresholds and expand its user base (42:12) – ETH’s yield curve unlocks native fixed-income and institutional onchain markets (44:07) – Kevin’s final advice: the markets always come back and the real building is just starting EssentialsYou can subscribe to the podcast on Spotify, Apple or YouTube.If you enjoy the show, please leave a review — it really helps.Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagramhttps://www.instagram.com/_talkingtokens/Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

In this episode of Talking Tokens, Jacquelyn Melinek sits down with David Schamis, CEO of Hyperliquid Strategies and Atlas Merchant Capital Founding Partner and CIO. He breaks down the rapid rise of Hyperliquid, the decentralized exchange powering billions in annual free cash flow without raising a dollar of outside capital. David explains how perps became crypto’s dominant trading product, why Hyperliquid’s architecture prevents FTX-style failures, and how real token buybacks created an equity-like model for protocol growth.He also shares what US-based investors misunderstand about access, the role of Hyperliquid Strategies as a publicly listed vehicle for exposure, and why he believes Hyperliquid is becoming the “AWS of exchanges” where builders can launch everything from tokenized equities to prediction markets. David reflects on navigating the 2008 financial crisis, how those lessons shaped his conviction in non-custodial systems, why private equity is warming up to crypto, and what it means for global market structure as real-world assets move onchain.Timestamps(00:00) – Intro (02:01) – Why perpetual futures dominate crypto (03:25) – How external builders tokenized US equities on Hyperliquid and enabled global access (04:11) – Why the HYPE token functions like equity through buybacks without giving up ownership (06:00) – Why Americans cannot access Hyperliquid directly and the role of the listed vehicle PURR (07:44) – Perps vs options and why retail prefers simplicity (09:54) – David’s background in private equity and why financial services experience led him into crypto (15:16) – Why traditional private equity firms will increasingly enter crypto as the space matures (17:49) – Lessons from Merrill, Lehman and the 2008 financial crisis and why self-custody is essential after FTX (20:19) – The future of global access and why decentralized rails matter for emerging markets (22:07) – How Hyperliquid compares to centralized exchanges and why trustless execution is the point (28:12) – Traditional finance meets crypto Hyperliquid Strategies’ board mix and what it signals about maturation (33:24) – Why global investors need decentralized venues and how Hyperliquid enables trust at scale (37:11) – Competition from dYdX and Lighter and why RWAs will be Hyperliquid’s differentiator (41:13) – Macro catalysts for bitcoin, regulation, deleveraging and why stability is coming to crypto (45:09) – Prediction markets, new verticals and Hyperliquid as the backend for future applications (49:58) – David’s career advice: be smart, work hard and get along with people EssentialsYou can subscribe to the podcast on Spotify, Apple or YouTube.If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagramhttps://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned.

In this episode of Talking Tokenization, Jacquelyn Melinek speaks with Mary Gooneratne, Co-Founder of Loopscale, about how tokenization, credit markets and asset mobility are converging into the next major wave of onchain finance. Mary explains why only a tiny fraction of the financial system exists onchain today, why future assets will look nothing like governance tokens or digital gold, and what traits are required for the “next 99 percent” of assets to become composable in DeFi.They discuss tokenized private credit, payment streams, real world lending, and why credit not trading is where crypto offers the biggest step-function improvement. Mary breaks down RWA looping, why liquidity and duration risk matter, how fixed-rate lending unlocks institutional use cases, and why collateral mobility is the missing piece for onchain credit markets to flourish. She also shares Loopscale’s roadmap, the evolution of issuer demand, and why institutions are finally getting comfortable with digital credit rails.This episode is sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.Timestamps(00:00) – Intro (02:13) – Only 1% of future tokens exist today (03:14) – What future assets need: mobility, redemption (04:20) – RWAs behave differently than crypto-native assets (05:03) – Tokenized payment streams and new asset classes (06:11) – Should we tokenize everything? (07:17) – Why institutions hesitate on tokenization (08:28) – Fixed rate lending and predictable collateral (09:38) – Loopscale bridges credit and mobility (11:03) – Onchain securities lending (12:31) – RWA looping explained (13:45) – When looping works (or doesn’t) (15:30) – Who uses looping and why (17:04) – Why issuers love looping (18:02) – Looping as institutional gateway (19:12) – Credit markets should live onchain (21:05) – Onchain credit = visible cash flows (22:27) – How credit institutions see tokenization (24:21) – Cutting intermediaries, boosting investor revenue (26:12) – New product creation vs porting old ones (27:11) – Loopscale’s new RWA launch (28:26) – Beyond crypto-native: macro-resistant yield (29:06) – Is crypto getting safer? (30:22) – Fast-growing RWAs: yield + T+0 (31:05) – Niche RWAs like reinsurance outperform (32:27) – Evolving underwriting expertise (34:17) – Institutions are already coming (35:15) – Mary’s advice: slow down, build right EssentialsYou can subscribe to the podcast on Spotify, Apple or YouTube.If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on InstagramTalking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned.

Parker White, Chief Investment Officer at DeFi Development Corporation, discusses how digital asset treasuries (DATs) could evolve into the banking backbone of Solana's economy. He shares his journey from traditional finance to crypto, fueled by his belief in non-sovereign money and the resilience of DeFi post-FTX. Parker dives into the mechanics of Solana's growth, liquidity provisioning, and the mission to make money fairer. He also envisions DATs as crucial players in onchain credit and yield generation, hinting at a bright future for Solana.

In this episode of Talking Tokens, Jacquelyn Melinek speaks with Nick O’Neill, Co-Founder and CEO of BoDoggos. Nick shares how years of running The Nifty, one of the largest NFT media companies, shaped his understanding of community behavior, storytelling and internet culture  and how that experience ultimately led to BoDoggos.Nick reflects on the psychological cost of operating as a character, how satire bleeds into reality, the tension between being informative and being entertaining, and why mixing humor with truth is harder (and more effective) than playing either side cleanly. Nick also shares stories behind his most famous stunts including staged scandals, yacht controversies, fake breakups, and sketch-comedy girlfriends and why narrative arcs outperform standalone posts.Timestamps(00:00) – Intro (03:25) – Dating life, fake girlfriends and how his online persona affects relationships (06:52) – Virality, trolls and how attention works on X (09:04) – Screen time habits, muting posts and handling backlash (11:27) – Comedy versus news, satire runs and experimenting with formats (13:33) – Filming in public and New York being ideal for chaotic content (15:38) – What makes a crypto capital city (16:13) – Origin of “Choose Rich” persona and the run that blew him up (18:06) – Quote tweet culture, algorithm changes and why narrative arcs matter (21:02) – The Dubai meme, stereotypes and how jokes spread through quote tweets (22:05) – Community notes, gaming, satire, yachts and how stunts go viral (27:45) – When fans think the character is real and dealing with public reactions (33:10) – The emotional and creative load of playing a character long term (36:07) – The famous Avalanche yacht stunt, how it was staged and how the narrative exploded (41:03) – Reputation risks, brand concerns and the line between humor and harm (44:08) – His view on crypto culture, memes, trading identity and what web3 became (46:57) – Technical versus cultural crypto, NFTs, and educational content (49:20) – Why serious content doesn’t perform well and blending humor with truth (51:32) – BuzzFeed era, ads in the feed, and the collapse of journalistic integrity (53:02) – The MicroStrategy subway rant and his opinion on the company (54:46) – Bitcoin, institutional flows and how he thinks about investing (55:32) – What he wants next in life including family, audience growth and coding (56:26) – Final advice on consistency, surviving the content cycle and momentum You can subscribe to the podcast on Spotify, Apple or YouTube.If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on InstagramTalking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned.

Mert Mumtaz, Co-founder and CEO of Helius, discusses Solana's evolution from NFTs to memecoins and its vision as the internet's capital markets chain. He emphasizes the need for robust infrastructure to make Solana legible and accessible. Mert introduces Orb, a next-gen block explorer aimed at enhancing data transparency while highlighting the importance of privacy. He shares insights on exponential growth strategies for startups and reflects on how meme coins have shaped Solana's infrastructure and user experience.