The Block: Plaid executive breaks down the future of digital finance

Episode 79 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Plaid head of UK/EU Keith Grose .

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Plaid, a fintech infrastructure and payments provider aiming to simplify the digital financial ecosystem through a single API, recently announced big crypto players such as Gemini and Binance.US are joining its network of financial institutions.

The move is part of Plaid's broader effort to integrate both legacy institutions and crypto service providers into its platform, which was valued at more than $13 billion last year after a $425 million fundraise.

In this episode of The Scoop, Plaid's head of UK/EU, Keith Grose, joins host Frank Chaparro to discuss how its integration with crypto platforms is helping bring new users into the ecosystem, and to break down what the future of digital finance will look like.

According to Grose, users' digital financial interactions will increasingly be controlled by a single wallet that is able to move seamlessly between different platforms:

"You are essentially, as a user, going to have this back end wallet, whether it's your bank account or your crypto wallet, that you control the keys to and you can take wherever you want to use it around the digital world. That's where we're headed."

While Plaid is built to cater to a range of digital financial platforms, Grose points out that all financial transactions ultimately come down to trust:

"What we're really talking about when you're talking about payments is trust… and I think we're more and more moving to a place where trust is becoming digital, and proving trust online in the digital world is very different than proving trust in a physical, community based system that most of humanity has been in for most of history."

In this episode, Chaparro and Grose also discuss:

The role of stablecoins in digital finance How Plaid handles KYC and why it's important Instant payments and risk modeling This episode is brought to you by our sponsors Tron , Chainalysis &amp; IWC Schaffhausen

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About Chainalysis Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com .

About IWC Schaffhausen IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com .

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