"He spent nearly two decades in financial services before founding Conduit in 2021, including six years in crypto and a stint as VP of product at BRD, which became Coinbase Wallet. His company grew 16x in 2024 by solving a practical problem: businesses in emerging markets were accumulating stablecoins to hedge against local currency volatility but couldn't use those balances in their day-to-day operations. Conduit now works with tier-one banks and multinational corporations, processing billions in cross-border payments."
""Finally, there is a regulation in the US that governs this thing. Finally, there's actually something that says, well, you can and cannot do and it's official, and legitimate." The GENIUS Act's mere existence matters more than its specific provisions. For the first time, companies and banks understand the rules around stablecoin issuance, reserve requirements, and what's legally possible."
The GENIUS Act provides the first comprehensive U.S. regulatory framework for stablecoins, clarifying issuance rules, reserve requirements, and permissible activities. Regulatory clarity accelerates global regulatory efforts and intensifies competition among banks and crypto firms. Banks must choose whether to build proprietary infrastructure and vertically integrate or to serve as rails for third-party platforms. Conduit scaled by enabling businesses in emerging markets to convert accumulated stablecoins into spendable balances for operations, partnering with tier-one banks and multinationals to process billions in cross-border payments. The distinction between stablecoins and deposit tokens shapes strategic product design and regulatory compliance for financial institutions.
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