Bitcoin, Fiat & Rock'n'Roll

March 2026 shows the trend clearly: stablecoins are scaling, tokenized securities are moving forward, and institutional DLT adoption is no longer a future story. In this March 2026 news episode of BFRR – Bitcoin, Fiat & Rock’n’Roll, Michael Blaschke, Manuel and Simon Seiter, CFO of AllUnity, unpack one of the most important months yet for institutional blockchain, digital money and tokenized assets. While crypto prices remain under pressure and sentiment stays deep in fear territory, the infrastructure story is moving in the opposite direction: regulation is maturing, institutional adoption is accelerating and the rails for the next financial system are being laid. The episode begins with a market overview, from Bitcoin and Ether price action to ETF flows and a major milestone for crypto-native banking: Kraken Financial becoming the first digital asset bank in US history to receive a Federal Reserve master account. From there, the conversation shifts into the heart of the episode: the global race to define regulated digital money. A central focus is the rise of stablecoins and tokenized deposits. The hosts examine Europe’s rapidly evolving landscape, including AllUnity’s expansion from a euro to a Swiss franc stablecoin and the growing significance of projects such as Kivalis. Beyond Europe, they discuss parallel developments in the UAE and Hong Kong, arguing that a global consensus is emerging around fully reserved, regulated and institution-led stablecoins. At the same time, they explore how banks are defending the deposit franchise through tokenized deposit models, regulatory lobbying and new shared ledger initiatives. The episode also covers major moves from payment giants and fintech infrastructure players, including Mastercard, Visa, Stripe and BVNK, as well as the growing importance of agentic payments and machine-to-machine commerce. On the asset side, the hosts review groundbreaking US regulatory progress on tokenized securities, momentum in tokenized money market funds and important developments in Germany, from Börse Stuttgart Digital to Deutsche Börse’s expanding digital asset strategy. Overall, this episode captures a defining moment for institutional DLT: a market that may look weak on the surface, but underneath is becoming more regulated, more connected and far more consequential. 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!

Moritz Stumpf, Co‑founder und CEO von Tokenforge, baut regulierungskonforme Tokenisation als skalierbares Produkt. Er spricht über das E‑Commerce‑Mindset hinter schnellen, kosteneffizienten Emissionen. Themen sind Automatisierung, regulatorisches Vertrauen, TKFG‑Tokenstrategien und die Vision für weltweite, API‑gesteuerte Kapitalmarkt‑Tokenisation.

From central bank settlement infrastructure to a DLT TSS In this episode of BFRR – Bitcoin, Fiat & Rock’n’Roll, Manuel sits down with Jochen Metzger, one of the most experienced architects of Europe’s payment and settlement landscape. After more than three decades at the Bundesbank, including 15 years as Director General Payments and Settlement Systems, Jochen reflects on the systems, decisions and harmonization efforts that helped shape the euro area’s financial plumbing as we know it today. The conversation traces Jochen’s career from capital markets and international assignments in New York, Buenos Aires and Basel to his central role in some of the Euro system’s most important infrastructure projects. He explains how the fragmented “spaghetti model” of national RTGS systems evolved into TARGET2, why T2S became such a transformative – and difficult – project for European capital markets, and how harmonization across central banks, CSDs, CCPs and market participants required persistence, political will and technical compromise. The episode also explores the move to ISO 20022, central liquidity management, SEPA, instant payments and the broader modernization of Europe’s payment architecture. But this episode is not only about the legacy system. It is also about what comes next. Jochen shares how his work increasingly shifted toward blockchain, digital issuance and DLT-based capital market infrastructure. He speaks about his time at NowCM, the ambition to digitize debt capital markets from issuance to execution, and his current role with Axiology, a DLT-native market infrastructure provider operating under Europe’s new regulatory framework. What emerges is a rare perspective spanning both worlds: the legacy infrastructure that keeps Europe running today and the tokenized infrastructure that may define tomorrow. For anyone working in payments, post-trade, capital markets, digital assets or financial market infrastructure, this episode offers a masterclass in how European market structure was built – and where it may be heading next. 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 Digital Euro Conference: Bitcoin, Fiat & Rock’n’Roll ist again partnering with the Digital Euro Conference that takes place on March 26, 2026, in Frankfurt. The DEC is one of Europe’s leading conferences on the future of money, discussing the digital euro but also the role of stablecoins and tokenized deposits for the future of payments. More information about the DEC, can you found here*. Secure 20% off with the discount code “BFRR20”. 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 stablecoins can solve real-world cross-border payment inefficiencies In this episode of BFRR, Jonas and guest host Jonathan Knoll sit down with Milind Sanghavi, co-founder and CEO of xWeave, to explore one of the most practical and fast-moving use cases for stablecoins: cross-border payments. Drawing on more than two decades of experience across PayPal, Visa, OCBC Bank and Meta, Milind explains why payments may look simple on the surface, yet rely on deeply complex infrastructure, regulation and coordination behind the scenes. The conversation cuts through the hype and focuses on the real frictions that still define international money movement today: opaque fees, manual processes, prefunding requirements, slow settlement times and weak transparency in many non-G7 currency corridors. Milind shares vivid examples from Asia, showing how treasury and remittance flows can still depend on phone messages, delayed FX quotes and uncertain arrival times—and how new infrastructure can reduce that process from days to minutes. At the center of the discussion is xWeave’s approach: combining licensed fiat rails with blockchain-based settlement and stablecoins, without relying on regulatory arbitrage. Rather than pitching a crypto-native revolution, Milind describes a “Web 2.5” model that brings together the compliance strengths of traditional finance and the speed and programmability of digital asset infrastructure. The result is a system designed to help licensed institutions move money faster, cheaper and with less trapped capital, especially across Asian and Middle Eastern corridors. The episode also dives into xWeave’s expansion strategy, its corridor-by-corridor model, the role of intelligent routing and why stablecoins only matter when they solve a real customer problem. This is a grounded, insider conversation about how cross-border payments are actually evolving—and why the next wave of innovation may come not from replacing finance, but from quietly rebuilding its plumbing. LinkedIn Jonas Gross LinkedIn Jonathan Knoll LinkedIn Milind Sanghavi etonec Website XWeave Website Bitcoin, Fiat & Rock'n'Roll Website Bitcoin, Fiat & Rock'n'Roll Telegram Channel Digital Euro Conference: Bitcoin, Fiat & Rock’n’Roll ist again partnering with the Digital Euro Conference that takes place on March 26, 2026, in Frankfurt. The DEC is one of Europe’s leading conferences on the future of money, discussing the digital euro as well as the role of stablecoins and tokenized deposits for the future of payments. More information about the DEC, can you found here*. Secure 20% off with the discount code “BFRR20”. 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!

Diskussion über Stablecoins versus tokenisierte Bankeinlagen und wie beide Zahlungsmodelle koexistieren könnten. Analyse von BlackRocks Fondshandel auf Uniswap als Schritt der Annäherung von TradFi und DeFi. Erklärung der EZB‑Entscheidung, DLT‑Wertpapiere als Sicherheiten zu akzeptieren. Bericht zu tokenisierten Aktienstarts an regulierten Börsen und aktuellen Krypto‑Kennzahlen von Coinbase und Kraken.

Why the real stablecoin competition happens beneath the token. In this episode of BFRR (Bitcoin, Fiat & Rock’n’Roll), co-host Michael Blaschke sits down with Simon Seiter, Managing Director, CFO and CPO of AllUnity—the regulated stablecoin venture backed by DWS, Galaxy Digital and Flow Traders. Simon brings a rare perspective: he built institutional DLT infrastructure inside one of Germany’s oldest private banks, then crossed to the “other side” to design the on-chain rails banks will ultimately connect to. The conversation starts with AllUnity’s announcement of a Swiss franc–denominated stablecoin alongside its euro product—not as a headline-grabbing token launch, but as an “infrastructure signal” that the platform was built multi-currency from day one. Simon explains why multi-currency matters for corporates, how MiCA enables CHF issuance via the EEA (through Liechtenstein), and why readiness can compress time-to-market. Then we go “layer below the coin”: regulated onboarding, wallet and bank-account whitelisting, virtual IBANs, straight-through processing, and automated minting/redemption in ~4.5 minutes. Simon walks through the full stack—transaction banking APIs, smart-contract governance and key management, reserve management (cash plus eligible securities with DWS advice), and the compliance and monitoring layer (sanctions screening, on-chain monitoring, travel rule, blacklisting mechanics). We also unpack where TradFi breaks when you bolt on blockchain: the identity-layer mismatch between accounts and addresses, real-time settlement vs. batch reconciliation, and why weekend liquidity can require buffers or smarter banking partnerships. Simon’s takeaway for bank CXOs: stop over-strategizing—build wallet and key-management capability now, run real experiments, and treat on-chain settlement as core infrastructure, not a side project. Mentioned: Digital Euro Conference 2026 (March 26, Frankfurt / online)—discount code BFRR20 in the show notes. Not financial advice. AllUnity just launched a Swiss franc stablecoin alongside its existing euro product—and while most coverage treats it as a product announcement, this episode treats it as an infrastructure signal. Host Michael Blaschke sits down with Simon Seiter, Managing Director and CFO/CPO at AllUnity, to go layer by layer through the actual technology, partnerships, and design decisions that have to exist beneath a stablecoin before any institutional client will touch it. From onboarding and virtual IBANs to smart contract key management, reserve allocation, and compliance monitoring, Simon walks through the full customer flow and reveals what straight-through processing looks like in practice—including the four-and-a-half-minute mint-to-wallet cycle AllUnity has built. The conversation goes deeper than technology. Simon and Michael dissect where traditional financial architecture genuinely breaks when it meets blockchain: the identity layer mismatch between KYC-based closed account systems and pseudonymous open networks, the reconciliation gap between end-of-day batch processing and real-time atomic settlement, and the challenge of enforcing sanctions in an open transfer system. Simon draws on his experience building digital asset infrastructure inside Hauck Aufhäuser Lampe to explain why blacklisting—rather than whitelisting—became the necessary bridge between TradFi’s closed-system paradigm and crypto’s open one, and why banks that haven’t started a wallet infrastructure project at least two years ago have already missed the window to build competitively. Perhaps most striking is Simon’s candid assessment of the broader institutional landscape. While banks have formed consortia and announced intentions, he argues that very few have actually shipped anything—and that the real bottleneck isn’t strategy or regulation but the willingness to build and the people who can execute. His advice to any bank CXO listening is blunt: stop theorizing and start experiencing. Buy wallets the way Kodak should have bought PCs. Give your teams money and time to experiment before commissioning a year-long strategy project. Because the secondary-order consequences of digital money—from pay-per-usage models to the elimination of classical point-of-sale infrastructure—are business model shifts that no amount of strategic planning will surface without hands-on experience. Bitcoin, Fiat & Rock’n’Roll Website Bitcoin, Fiat & Rock’n’Roll Telegram Channel Michael Blaschke on LinkedIn Simon Seiter on LinkedIn 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 Digital Euro Conference: Bitcoin, Fiat & Rock’n’Roll ist again partnering with the Digital Euro Conference that takes place on March 26, 2026, in Frankfurt. The DEC is one of Europe’s leading conferences on the future of money, discussing the digital euro but also the role of stablecoins and tokenized deposits for the future of payments. More information about the DEC, can you found here*. Secure 20% off with the discount code “BFRR20”. 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!

Why IT Design Decisions Will Shape the Next Financial System Architecture is the hidden battleground of digital money. In this solo episode of BFRR (Bitcoin, Fiat & Rock’n’Roll), co-host Michael Blaschke argues that the choices being made right now—inside central banks, commercial banks, fintechs and protocol teams—will shape the global financial system for the next 30–50 years. Too often, the people who must make it all work (enterprise architects) are pulled in after strategic bets are already placed. Michael opens with a question from the IMF: what is the “TCP/IP equivalent” for digital assets? He revisits early computer networking, when proprietary protocols didn’t scale and point-to-point integrations exploded in complexity. The lesson: interoperability comes from layered design and shared standards—not from forcing everyone onto one stack. He then introduces the IMF’s ASAP framework—Access, Service, Asset, Platform—a shared vocabulary for conversations that currently happen in silos (blockchain vs. RTGS vs. DeFi vs. bank IT). The key insight is counterintuitive: platform diversity is here to stay, so standardization effort pays off most at the asset and service layers. Jasper–Ubin is the proof point: different DLTs, one shared service protocol (HTLC) enabling atomic exchange. Next comes today’s “platform war”: vertically integrated “corp chains” versus open, permissionless networks. Michael explores the trade-off between turnkey efficiency now and strategic freedom later—and why closed stacks risk becoming “islands of harmony in a sea of diversity.” He also highlights emerging approaches like MAS’s Purpose Bound Money as hints of where practical standards may form. Finally, stablecoins take center stage as the ultimate stress test: multi-chain deployments, brittle bridges, fragmented standards, and real systemic consequences. LinkedIn Michael Blaschke IMF Working Paper: ASAP: A Conceptual Model for Digital Asset Platforms Opinion: The trillion-dollar battle for money's operating system Article: The Path to Seamless Blockchain-Based Retail Payments: The Role of Interoperability ECB Macroprudential Bulletin: Stablecoins' role in crypto and beyond: functions, risks and policy Market Data: Market size of non-USD fiat-backed stablecoins up to September 2025 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 practitioner's view In this episode of BFRR (Bitcoin, Fiat & Rock and Roll), co-host Jonas is joined by guest host Jonathan Knoll for a deep dive into one of the most important shifts in digital finance: stablecoins moving from a crypto-native product to real payment infrastructure. Our guest is Geetha Panchapakesan, co-founder of Tesser—and one of the most experienced practitioners in global money movement. Geetha has spent decades building and scaling payment systems across the industry, with roles at Mastercard, MoneyGram, PayPal, Visa Direct, and most recently Circle, where she witnessed firsthand how stablecoins evolved through boom, bust, and renewed institutional focus. Together, we explore why stablecoins are increasingly seen as a backend rail rather than a consumer-facing payment method—especially for cross-border payments, where legacy correspondent banking still creates friction, cost, and delays. Geetha explains what’s changed over the last few years: improving regulatory clarity across jurisdictions, growing competitive pressure, and major market signals (including high-profile moves by large payment companies) that have pushed banks and PSPs from “strategy” into execution. But wanting a stablecoin strategy is very different from actually shipping one. This conversation gets practical: What happens after a bank says “yes”? Where do projects get stuck—custody, wallet security, compliance, gas management, treasury reconciliation, reporting, ERP integration? Geetha breaks down the real infrastructure gaps, the fear points, and why stablecoin adoption is ultimately an orchestration problem as much as a technology problem. Finally, we discuss Tesser’s approach: a white-label, full-stack stablecoin payments platform built specifically for regulated financial institutions—abstracting complexity so banks can add stablecoins like they add any other payment method (ACH, SEPA, wire… and now stablecoins). We close with Geetha’s view on the next 12–24 months: emerging markets, off-ramp opportunities for local banks, and why on-chain identity and privacy may become critical to the next phase of adoption. LinkedIn Jonas Gross LinkedIn Jonathan Knoll LinkedIn Geetha Panchapakesan etonec Website Tesser 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 January’s most relevant digital currency and blockchain news – US Clarity Act pushback, global CBDC divergence, and launch of major tokenization platforms In this January news episode of BFRR (Bitcoin, Fiat & Rock’n’Roll), co-host Michael is joined by Manuel and Jonas to unpack what mattered most in institutional blockchain over the past month—from markets to regulation, digital money and tokenization. We start with a quick market pulse: crypto ends January roughly flat around a ~$3T market cap, while gold and silver print fresh highs—raising an uncomfortable question: is Bitcoin really “digital gold” yet? The team also digs into Ethereum’s quiet comeback: more active accounts than Bitcoin, record transaction activity, and notably lower gas fees—fundamentals that look bullish even as prices lag. Then it’s policy time in the U.S.: the Clarity Act drama (and why Coinbase CEO Brian Armstrong pulled support), the fight over stablecoin yield, last-minute tokenized securities language, DeFi/AML pushback, and competing bills vying to define SEC vs. CFTC oversight. We also cover a major regulatory signal: OCC national trust bank charter approvals for Ripple and Circle—and why traditional banks are protesting. On CBDCs, we zoom out geopolitically: China (CBDC yes, crypto no), the U.S. (CBDC no, stablecoins yes) and Europe trying to thread the needle. You’ll hear fresh details on the digital euro pilot planned for H2 2027, and why timing may be Europe’s biggest risk—contrasted with China’s e-CNY trajectory, “e-CNY 2.0” incentives, and cross-border momentum via mBridge. Finally, we connect the dots on tokenized deposits, Project Agora, stablecoin plumbing (Swift + Société Générale Forge, Interactive Brokers funding, Visa + BVNK, Barclays backing Ubyx), and what January’s platform launches (ICE, LSEG, State Street) mean for the next era of capital markets. Shownotes The Block data on Bitcoin and Ethereum accounts Knowledge Bite Michael: Paper “The trillion-dollar battle for money's operating system” by Christian Catalini Knowledge Bite Manuel: Paper on China’s digital currency efforts by the Atlantic Countil Knowledge Bite Jonas: OPen letter by 70 European Academics to the European Parliament on digital euro 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!

Inside the operational reality of stablecoins Stablecoins are no longer a thought experiment—they’re becoming production infrastructure. In this episode of Bitcoin, Fiat & Rock and Roll, we sit down with Max von Wallenberg, a builder who’s seen markets from every angle: trading floors at Lehman Brothers and Goldman Sachs, leadership at Börse Stuttgart Digital Exchange, and now stablecoin plumbing at scale at MoonPay (after MoonPay acquired his company IRON). Max explains what “running stablecoins” really means once you move beyond headlines: connecting on-chain money to the messy world of bank accounts, compliance, and regional payment rails. We dig into why UX still matters even in infrastructure, how developer experience becomes a moat, and why DeFi-native teams have an edge—because today’s rails were battle-tested in trading long before they became mainstream payments tech. You’ll hear how IRON compresses what used to take months of integrations with multiple banks and PSPs into a single API: virtual IBANs/accounts that auto-convert fiat into stablecoins, plus global payouts into dozens of currencies. Max shares lessons from integrating into MoonPay’s licensing stack (including MiCA) and why regulation is increasingly “table stakes” while operations and distribution decide winners. He also weighs in on Stripe/Tempo, why new “payment chains” are mainly go-to-market plays, and what’s still unsettled around stablecoin yields and uneven enforcement across jurisdictions. We debate incentives vs. liquidity, the rise of custom-issued stablecoins, and whether branded tokens will stick. Finally, Max looks ahead to a world where we stop saying “stablecoins” and simply call it money—because the blockchain layer fades into the background. Key topics: • Building stablecoin rails at scale • Virtual IBANs, on/off-ramps, global payouts • Adoption: wallets, fintechs, PSPs, and banks