Money Code Why Building a Global Venmo with Stablecoins is Still Hard w/ Mike Hudack (Sling)
Feb 12, 2026
Mike Hudack, Co-founder and CEO of Sling Money, former product lead at Facebook, Deliveroo and Monzo. He tells the origin story of building a global Venmo-like app using self-custodial stablecoins. Conversations cover how Sling moves value across 120 countries, ramps and localization as the real hard problems, and why compliance, trust, and liquidity choices shape the product.
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Implement Real Self-Custody
- Design true self-custody: users must control private keys and the platform must be unable to move funds without user auth.
- Build legal and technical tests across jurisdictions to validate custody claims.
Mix Regulation With Local Partnerships
- Use a mixed ramp strategy: secure direct regulation where possible and partner with locally regulated providers elsewhere.
- Then operationally tune transaction monitoring and compliance between partners.
Abstract The Blockchain, Explain The Edges
- Abstract most blockchain complexity from users but expose edges where 'physics' differ to maintain trust.
- Smooth UX requires millions of backend lines and cross-functional teams to hide complexity.