Bitcoin, Fiat & Rock'n'Roll

Exploring why digital money matters for Europe’s strategic autonomy and what the Digital Euro could change. In this episode of Bitcoin, Fiat & Rock’n’Roll (BFRR), hosts Jonas Gross and Stefan Grasmann sit down with Dr. Alexandra Hachmeister, Director General for the Digital Euro at Deutsche Bundesbank, for a wide-ranging and candid conversation about the future of money in Europe. Drawing on more than two decades at Deutsche Börse and her transition into central banking, Hachmeister offers rare insight into how public institutions think about digitizing sovereign money in an increasingly fragmented and geopolitically charged payments landscape. The discussion explores why the digital euro is not simply a technical upgrade, but a strategic response to Europe’s growing dependence on non-European payment infrastructures. From Visa and Mastercard to Big Tech wallets, much of Europe’s daily payment traffic runs on rails outside European control. Hachmeister explains how the digital euro is designed to strengthen monetary sovereignty while preserving the role of commercial banks, protecting privacy, and offering citizens a cash-like public alternative in the digital world. Beyond retail payments, the conversation dives into usability, merchant acceptance, offline functionality, and the complex challenge of rolling out a pan-European payment system across 20 countries. The hosts and their guest also address common misconceptions: the digital euro is not about crowding out private innovation, abolishing cash, or competing head-on with existing payment solutions, but about building resilient public infrastructure that others can build upon. In the second half of the episode, the focus widens to stablecoins, tokenized deposits, and corporate payments. Why are USD-denominated stablecoins advancing so quickly? Why has Europe struggled to create a compelling euro stablecoin ecosystem? And how do central banks view the potential risks and opportunities these new forms of money bring for financial stability, cross-border payments, and bank balance sheets? This episode offers a nuanced, behind-the-scenes look at how Europe’s monetary future is being shaped—balancing innovation, sovereignty, market realities, and public purpose at a time when the definition of money itself is evolving. Shownotes LinkedIn Alexandra Hachmeister LinkedIn Jonas Gross LinkedIn Stefan Grasmann Website Digital Euro Bundesbank Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

How Januar solves debanking and licensing challenges for crypto SMEs In this episode of Bitcoin, Fiat & Rock’n’Roll, we dive deep into one of the least discussed but most existential challenges for Europe’s crypto industry: the ongoing debanking of crypto SMEs — and the emerging regulatory twist that could upend the market again in 2026. Host Michael Blaschke is joined by Stefan and Marcus Mølleskov, Chief Risk & Compliance Officer and Co-Founder of Januar, a Danish payment institution built to solve exactly this problem. Marcus shares his unusual journey from quantitative finance into crypto compliance and explains how a chance encounter with the early Chainalysis team shaped Januar’s founding vision: bringing trust, transparency, and proper financial infrastructure to an industry long treated as “too risky” by banks. We explore why crypto companies across Europe still struggle to open something as simple as a corporate bank account — and how Januar created a full-stack payment and custody platform that bridges traditional finance with digital assets. Marcus also unpacks a regulatory curveball few CASPs have fully grasped: according to recent EBA guidance, from March 1, 2026, stablecoins legally qualify as funds. This means any CASP offering stablecoin services must hold a PSD2 license or work with a partner who has one — or face fines. Overnight, Januar’s dual licensing path turned into a critical lifeline for the industry. Looking ahead, Marcus explains why stablecoins, not speculation, will drive the next evolution of blockchain: enabling instant global settlement, powering tokenized financial assets, and reducing trillions locked in traditional settlement rails. Instead of issuing yet another stablecoin, Januar is positioning itself as the integration layer connecting Europe’s rapidly fragmenting stablecoin landscape. If you want to understand the real bottlenecks for crypto adoption in Europe — and how regulation, payments infrastructure, and tokenization are converging — this episode is for you. Marcus Mølleskov, CRCO at Januar, on LinkedIn Michael Blaschke on LinkedIn Stefan Grassman on LinkedIn Januar’s thinking and resources Recent BFRR News Episode ‘Stablecoins Everywhere - While European Parliament Rethinks the Digital Euro | News’ Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

We unpack November’s biggest digital currency and blockchain news – JP Morgan’s bold moves, continued stablecoin momentum and long-awaited digital euro perspectives from Brussels In this new BFRR News episode, Jonas Groß and Manuel look back at a turbulent November across digital assets, stablecoins, tokenized deposits and CBDCs. They’re joined for the first time by Atakan Kavuklu, project manager at AllUnity, who brings hands-on insights from one of Europe’s most prominent stablecoin initiatives. November delivered heavy market volatility, with a 15% crypto market drop and extreme fear readings, yet also remarkable institutional breakthroughs. The Czech National Bank revealed a pilot Bitcoin portfolio as part of a broader digital-asset readiness strategy. Harvard University quietly tripled its Bitcoin exposure, while questions resurfaced about MicroStrategy’s long-term resilience during downturns. On the infrastructure side, Clearstream launched its D7 DLT platform, Swiat received its BaFin license as a crypto securities registrar, and the Basel Committee signaled it may soften punitive capital rules for banks holding crypto assets—potentially a milestone for regulated adoption. Stablecoins again dominated headlines: Visa and Mastercard rolled out stablecoin payout pilots; Western Union launched a USD-backed token on Solana; Klarna introduced its own stablecoin on Tempo; and Swiss payments giant TWINT started exploring a CHF stablecoin. The team breaks down why payouts, remittances and retail rails could become catalysts for real-world stablecoin usage. JP Morgan accelerated the race in tokenized deposits with the live launch of its JPM Coin infrastructure on Base and new interoperability steps with USDC. Citi also expanded its token services and deepened collaboration with Coinbase. Finally, the hosts unpack the European Parliament’s draft report on the digital euro, including the surprising push to prioritize the offline CBDC, new governance ideas, and looming questions for private-sector payment schemes such as Vero. A packed episode full of market insights, policy shifts and infrastructure updates—perfect for anyone navigating the future of digital money. Digital Euro Draft Report from European Parliament](https://www.europarl.europa.eu/RegistreWeb/search/simpleSearchHome.htm?relations=NUPE%23%23778.136&sortAndOrder=DATEDOCUDESC)) Knowledge Bite Atakan: Paper “Regulatory responses to the financial stability implications of stablecoins” Knowledge Bite Manuel: European Banks & Stablecoin Report from Blockstories Knowledge Bite Jonas: ECB Enters Next Phase of Digital Euro Project Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

How Bitcoin mining stabilizes European grids while monetizing curtailed renewable energy In this episode of Bitcoin, Fiat & Rock’n’Roll, co-host Michael Blaschke sits down with Dr. Harald Rauter, Chief Growth Officer at 21Energy and board member of the European Bitcoin & Energy Association, to explore how Bitcoin mining could become critical energy infrastructure in Europe. Against the backdrop of Europe’s competitiveness and energy crises, Harald explains why 20–40 TWh of curtailed renewable power each year is not just an energy problem but a monetary one. He walks through the economics of stranded electricity, how grid constraints destroy CAPEX and erode industrial competitiveness, and why flexible loads like Bitcoin mining can turn wasted megawatts into revenue, grid stability and, ultimately, energy sovereignty. Michael and Harald dive into a distinctly European model of mining: modular containers co-located with wind and solar assets, Bitcoin space heaters in homes and businesses, and architectures that stack multiple income streams—from monetizing curtailed power and providing grid-balancing and reserve services to reusing heat. They contrast this with the era of hyperscale industrial farms in North America and argue that the future of mining is smaller, smarter and deeply integrated into local energy systems. The conversation also unpacks Europe’s surprisingly favorable regulatory landscape—from MiCA to key energy and market directives—and why the real bottleneck is no longer law but awareness and institutional courage. Drawing on work across 37 countries, Harald makes a clear case: Bitcoin mining is not outside the energy system; it is part of it. For energy companies, financial institutions and policymakers, this episode offers a concrete roadmap to rethinking Bitcoin mining as an infrastructure tool for Europe’s energy transition. Harald Rauter, Chief Growth Officer at 21energy, on LinkedIn Co-Host Michael Blaschke on LinkedIn Intelligence Brief by the Swiss Bitcoin Institute on ‘Abundant Power, Real Value: Turning Swiss Curtailment into Industrial Advantage’ Website of 21energy 21energy on Twitter 21energy on Instagramm 21energy on YouTube 21energy on LinkedIn Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

… and what it means for the future of payments in the European Union In this episode of BFRR – Bitcoin, Fiat & Rock ’n’ Roll, host Jonas Groß welcomes Floris Lugt and Jan Lebbe, Co-Heads Digital Assets at ING Wholesale Banking and representatives of a new euro stablecoin initiative formed by nine major European banks. The conversation traces ING’s blockchain journey from 2016 experimentation to today’s focused digital asset strategy. Floris explains how early work in trade finance, collateral and payments consortia revealed a clear gap: while assets are moving on-chain, a trusted, interoperable euro cash leg is still missing. That realization, combined with rising client demand, led to the idea of a joint bank-issued stablecoin, rather than each bank building its own siloed solution. Jonas, Floris and Jan discuss why, despite the crowded market, they believe there is room—and a need—for another euro stablecoin: not as a speculative asset, but as regulated payment infrastructure backed by established banks, their compliance frameworks and massive client networks. They outline their vision of a neutral e-money institution based in the Netherlands, supervised by the Dutch central bank, focused solely on issuing the stablecoin, while banks and regulated providers build client-facing products and use cases on top. Use cases range from crypto trading and DeFi liquidity to cross-border payments, treasury, settlement of tokenized securities and real-world assets, and programmable payments. The trio also explore the coexistence of stablecoins, tokenized deposits and CBDCs, and the ongoing debate between permissioned and permissionless blockchains, including the role of privacy and zero-knowledge technology. Looking ahead to 2030, Floris and Jan expect stablecoins to be a mainstream yet almost invisible layer of financial infrastructure—quietly enabling new forms of value transfer while existing payment rails like SEPA continue to thrive alongside them. LinkedIn Jan Lebbe LinkedIn Floris Lugt Press release on the joint stablecoin project Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

A four-layer architecture for stablecoin businesses to survive institutional scrutiny. In this episode of Bitcoin, Fiat & Rock’n’Roll, we take you inside the organizational blueprint of the world’s most influential stablecoin issuers. Co-host Michael Blaschke is joined by Thomas Cowan, Head of Tokenization at Galaxy Digital, whose background spans Paxos, PayPal’s stablecoin infrastructure, and CBDC projects at Ripple and the Boston Fed. Together, they dissect how stablecoin businesses are truly built — far beyond the blockchain layer. While markets obsess over market cap rankings and regulatory headlines, this conversation goes deeper: What distinguishes a financial enterprise from a mere tech project in the stablecoin world? How do business models, applications, data architectures, and technology stacks interact to create institutional-grade resilience? Why does trust, not code alone, determine which stablecoin becomes “the on-chain dollar” the world actually uses? Thomas and Michael map out a four-layer framework — from business model to infrastructure — showing how design choices cascade through every layer of a stablecoin issuer. They explore the new competitive landscape shaped by MiCA, the Genius Act, and institutional demand, and they outline three emerging archetypes: white-label platforms, payment rails, and on-chain shadow banks. If you want to understand how the next generation of digital money infrastructure will be architected, operated, and trusted, this episode is a must-listen. 👉 Listen now and explore detailed show notes at bfrr.com Shownotes Thomas Cowan on LinkedIn Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

How the first TSS under the European DLT Pilot Regime revolutionizes tokenized securities settlement In this BFRR episode, hosts Stefan Grasmann and Manuel Klein dive into the third big pillar of digital finance: tokenized securities and the regulated market infrastructure needed to scale them. They’re joined by Max Heinzle (Founder & CEO) and Victoria Jahn (Head of Regulatory Affairs) from 21X—the company operating what they describe as Europe’s first DLT trading and settlement system (DLT-TSS). Max traces his journey from traditional capital markets to blockchain, arguing that distributed ledgers are the “missing” settlement layer for securities. He explains how 21X runs a blockchain-enabled exchange (currently on Polygon, with multi-chain plans) that atomically matches and settles trades in ~T+2 seconds, removing the need for a CSD and slashing post-trade friction and cost. Victoria unpacks the EU DLT Pilot Regime, clarifies what a TSS license allows (combining exchange and settlement on-chain), and why stringent issuer standards and disclosure are crucial to attract the buy side. The conversation gets practical: why stablecoins (e-money tokens under MiCA) are the cash leg today, how wholesale CBDC could complement them, and what it takes to onboard wallet-native investors, RWAs funds, custodians, brokers, and—eventually—neo-banks and large distribution platforms. The hosts press on the perennial hurdles: secondary markets for on-chain bonds, bootstrapping liquidity with market makers, and solving the “chicken-and-egg” problem via multilateral venues rather than OTC. Looking ahead, 21X outlines a US expansion via broker-dealer/ATS licensing plus targeted exemptive relief, citing open doors at regulators and growing institutional demand. The panel imagines a near future where 24/7 programmable markets, per-second yield accrual, automated treasury, and T+1-second DvP finality are standard—and where public, permissionless rails connect global issuers and investors within robust regulatory guardrails. If you want a clear, insider view of how regulated on-chain capital markets could finally scale—from stablecoin settlement to tokenized MMFs, ETFs, bonds, and equities—this episode is your blueprint. 21X website Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

We unpack October’s biggest crypto and blockchain news – market shocks, institutional adoption, and how China’s digital currency ambitions add a new geopolitical twist In this new BFRR news episode of Bitcoin, Fiat & Rock'n'Roll, Michael and Jonas break down what happened in October across crypto markets, institutional blockchain, and stablecoins — and why it matters for the future of digital finance. They start with the macro shock of the month: tariff threats between the U.S. and China triggered one of the largest crypto liquidations ever — roughly $20 billion in leveraged positions wiped out — and sent total crypto market cap swinging between $4.3T and $3.5T before settling near $3.75T. The hosts debate whether this proves that crypto is now a mature macro asset class that trades like equities… or just more proof that Bitcoin currently behaves more like tech stocks than “digital gold.” From there, they zoom in on Bitcoin and Ethereum. Bitcoin held around $112K after spiking to $125K, but the headline story is political: Luxembourg became the first EU member state to allocate part of its sovereign wealth fund (1%) to Bitcoin ETFs — a symbolic but important milestone for nation-state level adoption. On Ethereum, they unpack the upcoming “Fusuka” upgrade aimed at making the network faster and cheaper through more efficient data handling and rollup support. The core of the episode focuses on institutional blockchain infrastructure. Three developments stand out: the launch of “Regulated Layer 1,” a new European cooperative blockchain governed by major banks; Swift’s move to build a shared ledger with 30+ global banks for real-time cross-border settlement; and Deutsche Börse Group’s work with Chainlink to bring regulated market data on-chain. Michael and Jonas argue this is the shift from pilots to production — traditional finance is no longer experimenting with blockchain, it’s building and owning it. Finally, they dive into stablecoins: Deutsche Börse partnering with Circle, Société Générale pushing bank-issued stablecoins directly into DeFi, major global banks exploring a joint stablecoin initiative, and China’s strategic push into yuan- and even euro-linked stablecoins. The lines between TradFi, DeFi, and geopolitics are blurring — fast. BFRR episode with Ivica Aračić on DLT architecture Knowledge Bite Michael: Opinion piece “From bank wars to blockchain” Knowledge Bite Jonas: ECB digital euro cost note Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

SWIAT’s CTO explains the architecture needed to move digital asset infrastructure from innovation to production In this episode of BFRR – Bitcoin, Fiat & Rock ’n’ Roll, co-host Michael Blaschke sits down with Ivica Aračić, CTO of Swiat and former IT architect at DekaBank, to map the real architecture of DLT-based financial market infrastructures—beyond pilots and press releases. With two decades in software engineering and hands-on work in TradFi since 2016, Ivica explains how the industry is shifting from “zero-to-one” experiments to “one-to-many” scale. We introduce and use the ASAP model (Access, Service, Asset, Platform) as a simple, powerful lens: Platform: permissioned Ethereum and other ledgers now run reliably, but governance and neutral coordination matter. Asset: tokenization is real (bonds, fund shares, money-like instruments), yet standards beyond ERC-20 remain fragmented. Service: the hard part—DvP/DvD, cross-ledger settlement, secondary markets, and payment legs (central bank money, tokenized deposits, stablecoins). Progress is tangible (e.g., Eurosystem trials, Pontus Track), but consolidation is key. Access: institutions want convenient, custody-driven access; UX should hide the blockchain while preserving its benefits. We discuss why convergence and consolidation are finally happening (industry coalitions, neutral shared utilities, and big-tent moves like ledger interoperability) and how Swiat’s Regulated Layer 1 aims to provide a credibly neutral meeting place for European finance—so competition can move to assets and services, not base infrastructure. Ivica shares a pragmatic roadmap: finish the payment leg across money types, enable liquid secondary markets under the Pilot Regime, and achieve eligibility so tokenized assets are first-class collateral. Long view? Success is when no one talks about wallets or chains—just better, safer markets. ASAP: A Conceptual Model for Digital Asset Platforms SWIAT Research Ivica Aračić’s Newsletter Ivica Aračić at LinkedIn Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

What we can learn from global national digital currency initiatives from a leading practitioner In this compelling episode of Bitcoin, Fiat & Rock’n’Roll (BFRR), co-host Jonas welcomes Tristan Thoma, a digital currency expert who helped lead El Salvador’s historic move to adopt Bitcoin as legal tender. With a decade of hands-on experience across national digital currency projects and a lifestyle that embodies the borderless ethos of the crypto world, Tristan joins to discuss how digital money is reshaping economies — and why its real impact goes far beyond price charts. The conversation dives deep into the human and geopolitical dimensions of digital currencies. Tristan reflects on his work in El Salvador, explaining how the initiative wasn’t about “Bitcoin to the moon,” but about financial inclusion — bringing millions of unbanked citizens into the formal economy. He recounts how access to digital wallets doubled financial participation within months, boosting GDP and enabling a more transparent, data-driven view of the country’s economic health. From there, the discussion moves to Bolivia, where Tristan is now advising on new digital finance strategies amid a monetary crisis. He describes how blockchain and stablecoins could become lifelines in regions where access to money is as vital as oxygen — enabling people to safeguard savings, transact globally, and reclaim economic sovereignty. Beyond the technology, the episode explores freedom, education, and resilience: the right to self-custody, the balance between regulation and privacy, and the need to empower people with knowledge about how money truly works. Tristan’s insights bridge continents — connecting the lessons of the Global South with the policy debates unfolding in Europe and the U.S. Ultimately, this episode is about redesigning money for people. Whether you’re a policymaker, a crypto enthusiast, or simply curious about the future of finance, Tristan’s story is a masterclass in how digital currencies can empower nations — and individuals — to breathe new life into the global economy. LinkedIn Tristan Thoma Website Tristan Thoma / Impera Strategy Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!