Layer 1s • May 12, 2020, 7:32PM EDT
UPDATED: May 12, 2020, 9:41PM EDT

ConsenSys fintech executive dissects Facebook's Libra project, the growth of the stablecoin market, and how fintech and crypto can coexist

Read the non-AMP story on Theblock.co
The Block

Episode 18 of Season 2 of The Scoop was recorded remotely with Frank Chaparro and Ryan Todd along with Lex Sokolin, global fintech co-head at Consensys. 

Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.

This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!

It’s been an interesting time for the stablecoin market.
 
Total stablecoin supply recently surpassed $10 billion, according to data compiled by The Block Research. Meanwhile, the discussion of Facebook’s Libra has taken on interesting new dimensions of late. Lex Sokolin, a former research analyst and the current global co-head of fintech at Consensys, has been paying close attention to these developments.
 
In this episode of The Scoop, which was recorded prior to the Libra Association announcement of its new CEO, we dive into its shift to a multi-currency model. We also dig into:
  • Whether Libra’s massive network and cash pile will suck the life out of other open-source initiatives
  • Why a regulated approach to digital assets might have an easier time surviving and thriving
  • Is the stablecoin market overhyped right now?
  • How developments in the fintech ecosystem may have an impact on business models in the cryptocurrency market

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.