Sep 11, 2023
Martin Carrica, cofounder of Mountain Protocol, joins us to discuss their launch of their USDM, permissionless interest-bearing stablecoin. In this episode:
- Martin’s story and origins of his desire to create a stablecoin
- Obtaining a registered digital assets company in Bermuda
- Martin’s review of regulatory options worldwide and how they ended up in Bermuda
- How Bermuda has distinguished itself from other financial hubs in the Atlantic
- How reinsurance is like stablecoins
- What it takes to get licensed as a digital asset business in Bermuda
- How Mountain Protocol’s USDM stablecoin works
- How rebasing stablecoins work – and how they integrate in DeFi
- How USDM differs from on-chain T bills and other interest bearing stable products
- How USDM was able to achieve a permissionless structure
- How Mountain avoids US clients
- Why the market for stablecoins is mostly ex-US
- Stablecoins as a backend for emerging market fintechs
- Different exchange rates in Argentina
- How Argentine firms use Argentine ADR stocks to manage their corporate cash
- How street moneychangers on the street in Argentina work
- Milei and the prospects for dollarization in Argentina
- The importance of a stablecoin being issued out of a bankruptcy remote structure
Disclaimer:
- USDM and other Mountain Protocol products and services are not available for U.S. persons as well as other restrictied jurisctions.
- For more information and disclosures on Mountain Protocol, please refer to the Terms and Conditions.