$100 Trillion Coming To Solana?🔥EU Stablecoin Frenzy in June!🚨

[Music] St coins are getting very interesting in the market as we look to potentially over a 100 trillion possibly entering the market all happening through the EU we'll break it down for you guys you don't want to miss it today it will give you an insight to the future of crypto my name is Paul bar welcome back in the tech path before we get started I want to thank our sponsor and that is itust capital if you're looking at long-term holding and you want to do it in an this is one of the best places to go to you could of course hold your Bitcoin over there your ethereum there you can even do gold and silver but it is one of the most flexible IAS out there make sure and just go to their website which is itrust capital.com use our link it's going to get a $100 funding reward if you decide to start and guess what no fees monthly all you do is pay on your trades so very easy to use and get into building your crypto future with them all right let's take a look at a couple of points here and as you guys know we've covered this for quite some time if you want to go back on our Channel and look at all the MAA videos we've done several around the EU and the probability of them coming to Market first well now we have proof and these are the things that are happening that will affect the crypto markets as a whole EU implemented the largest comprehensive uh crypto regulation uh businesses uh really to dat we haven't seen anything to this level markets and crypto assets which is what is basically stands for provision now on stable coins will come into Force let me kind of zoom in on that for you guys markets and crypto assets is what that stands for uh the ma Provisions now will basically be allowing stable coins to come into force on June 30th this is just around the corner 2024 and the whole regulation will come into Force at the end of the year now this is moving very fast but remember I think it was year before last when we started first reporting on this and we've had several interviews with some of the teams over in Europe around what the future of this holds and this is the thing when you look at Big Money moving at the pace in which it's which it's going to be moving into the crypto markets whether it's through stable coins which I think is still the gateway to all of this this is where things get really interesting if you look at the Timeline here this was June 23 the publication uh came out October 23 their first uh consultation package which is where they were looking for changes uh June of 24 is where we're going to see the entry uh into application on title three and four and of course at the end uh we're way down the pipeline right now guys uh in terms of hitting the December Mark but also just getting launched this is going to happen very quickly and a lot of companies and including a lot of asset managers I think are going to start looking at what's happening in the EU as a whole I want to go to a clip real quick to break down Jeremy air talking about the critical nature of June 30th listen in we're seeing this as a a little bit of a preview in Europe right now so Micah has stable coin rules there haven't really been widely successful Euro stable coins to date but however like when June 30th comes around I think you're going to see a ton of movement in Euro stable coin space you're going to be tons of companies that are entering you might see 50 different companies competing including big companies I think you're going to see big big incumbents uh that some some of whom are are like large pan European Banks who want to be in this market uh some of whom are large pan European fintechs uh who will want to be in this market and then obviously like um firms that are Crypt native right so this is exactly the reason that the United States is scrambling right now to try to chase down what's happening in Europe now there is some early movers and are some early movers in Europe that are a little bit ahead of the curve here let me play this one for you this will start to explain things um the markets in crypto assets framework is certainly the most comprehensive regulatory framework globally that is adopted and uh it will actually enter into application this year in in in June for stable coins like us it's keeping us very busy at Circle and later at the end of the year for the rest of the crypto industry from 1 to 10 how prepared is the French crypto industry would you say for MAA what what's the feedback you you're hearing uh what I can say is that the French industry is more ready than in another um member states of the EU because there was a regulation before Mika that actually inspired Mika there is a regulation for French Market since 2019 for those who are not regulated today uh the entry into application is a really really urgent issue expected um um unless you are already regulated in France for example and in some other member states it depend on the member states uh you have to be compliant in at the end of December to be able to provide your services uh in the EU we expect lot actually lots of files to to come on the on the desk of a French regulator so France clearly a first mover and the likelihood of we're going to see a lot of companies that start to kind of align around what's happening in France as a first mover and most likely one of the EU states that will be a little bit more receptive of these companies as they start to build out a new framework for the monetary system inside the EU around MAA I want to go to this next clip because this talks about coinbase and their partnership inside France listen in it has been you know widely shared that coinbase has chosen Ireland as its mikah hub so as an American as an American firm I tell you being being in Europe where we have legal certainty and we're going to have the entry into force in M um that is different to what we're kind of used to back homes but I want to be really clear we don't foresee just having one single kind of like place in Europe we will continue to be very present uh in France and to tailor our our app here and we look forward to Growing market share it's actually our fourth largest market globally uh so France is very very important for for coinbase right here on the wall coinbase is going to be creating I think a much bigger um representation inside of France and I want to go into why this is so important because this is the thing that really starts to shift the Dynamics around crypto in general and I think a lot of people here in the US kind of already get this but it's funny that the Innovation is happening offshore right now this is a good example of just to give you a framework this is Visa key metrics right now on 2.4 trillion in total transaction volume let me zoom in on that one for you that's the last 30 days okay and we want to get into this because this is what we're talking about in terms of stable coins and what we're going to see this is just showing the assets right now of usdc usdp and PUSD PayPal so you look at that and then you compare this to the rest of what's going to happen over the next maybe year we'll look at total transactions uh overall and you can kind of see something starting to build right here I'm going by total USD amount right there of course is usdc and that is on salana zooming in right there coming in at 4.6 trillion so you start to see the numbers here and I think this is where Visa is going to get a little bit surprised because I think as we start to see this roll out and you look at the size of transactions and payment volume this is 12.3 trillion and then you go back over here and just look at what's been happening in just a little bit of the time and remember most of this is still riding on Salon this is 2.4 trillion so you just equate that out let's assume there's no growth and it's just staying at the current Pace now you're talking about 24 trillion an annual period 24 trillion compared to what's uh happening with Visa right now at 12 trillion so you can kind of see the shift is potentially at large and now in place and all of this begins in June so I want to go to this next clip this gets into the whole salon Visa issue because there's a lot of things happening under the hood listen it if you go to PayPal and you ask PayPal to open up the rails so that everyone everywhere could participate in PayPal you're going to get a very awkward answer where they're going to hang up the phone but in the span of only a few years the growth of usdc on Solana went from zero to more than 2.2 billion today yeah it's about 2.2 billion today but what from the Solana Foundation vantage point and the chain itself uh makes it unique um one of the things that's pretty unique about salana is because it moves so quickly the liquidity requirements for things like def markets are actually much lower so you'll see that salana is anywhere between five to seven times more Capital efficient uh in its defi than other networks and so what that means is just a little bit of you know stable coin liquidity can actually support a huge volume of transactions so a great example of this is Visa's use of usdc on salana uh with World pay and what they're doing over time is they're they're switching over from using you know more traditional Financial rails to using usdc on salana to actually move money from the sort of Master Visa accounts down to you know the the world pay accounts then eventually all the way down to Merchants and eventually maybe someday down to Consumers so when Kai Sheffield at Visa reported a 50% Improvement or it was an 80% Improvement in internal settlement on their blockchain experiments with usdc it's ultimately sana's yeah you know benefit or impact that that is being reported all right so as you can see I mean the salana guy was being somewhat humble there but the point is is that all of this performance was happening inside that blockchain so I want to jump now over to a clip on salana and circles partnership because this is where it gets interesting of how this may really change the I'll say the the landscape in general of how payments are going to be done over the next few years listening there's a number of things that will be coming to the salana ecosystem um number one we're building a whole host of services that will be coming to salana so much of the web3 services stack that Jeremy described from programmable wallets to the smart contract platform to the gas station which is a solution that would abstract away the pricing and create seamless pricing in usdc yeah there there are several organizations that have built different gas L actions on salana um you know one of the world's largest financial service technology companies has to actually use that because their lawyers have said they cannot hold sold the asset on their balance sheets because of the regulatory uncertainty in the United States around is that a commodity or not um so web 3 services will be coming to salana soon and to hit that this of course is the circle website web 3 right there coming to salana soon uh digital wallets um apis and and new developer kits all right so as you can see right here this is a good example just of how they've been able to grow this is Phantom it's you know it's one of the more popular wallets out there but 7 million monthly active users so this is really going to change kind of the fundamental basis of how wallets and digital currency is going to be used and now Ma the EU is set up and they're ready to go they're pulling the trigger on this very quickly I'm curious as to how fast the United States is going to try to catch up on this because now you've got a little bit of a scramble happening I think here in the US especially with our current lawmakers and trying to figure out how the EU essentially has outdone Us in this area and if it takes off quickly like Jeremy aair kind of mentioned that they were going to see you know maybe dozens or more of new Banks and all sorts of organizations small and large start to jump into this so it's going to be a very interesting uh 2024 and five so here's a clip on France talking about nfts and defi also coming into regulation now that they've got stable coin out of the way what's next listen it our task is not ending with the entry into application of Mika for example on dii this is um an area that we are exploring and where we are seeing a lot of PR promising things um on the non-fungible tokens um you may remember that president mcon has urged the the museum to get an interest on uh on nfts the parliament has recently adopted um an experimental framework for nfts use for gaming it's coming this is the the format I think and maybe France is going to be one of the first movers again on this and if we start to see that kind of integration can you imagine the uptake especially as ma because they've talked about the atory alignment for nfts and kind of the future there so it's coming right behind it I anticipate we're going to see some pretty significant changes here in the next six months the other thing that's kind of interesting is the pressure and push back that we're continuing to see on Apple now Apple's important because the fundamental nature of how mobile devices and the use of digital wallets nfts all those things have H and met with uh hit and met with a barrier around Apple here's Tim Sweeney of course over from epic games fantastic news makes iOS store competition in the EU relevant iPad this is talking about the iPad who Apple previously intended to freeze out of the access a new Fantastic move on the uh EU commission opening the markets in competition mainly what they're saying is they're designating the iPad OS as a gatekeeper under these new digital Market apps which is the one problem that Apple has today of being able to open that up because they're closed ecosystem so that continues to push very hard on what Apple's position CU remember mobile is going to be huge in terms of use case so let's listen to this next clip talking about the EU versus Apple this is around the iPad it's been added to a list of products that fall under the eu's digital markets act it means that Apple now has 6 months to make changes to comply with a new set of rules I mean this is just another headwind thorn in the side for Apple yeah so the dma wants to make sure that if you want to download apps you don't have to go through the App Store you can go outside the ecosystem what can turn the iPhone sales story around Beyond China if at all yeah that's not going to happen this year or know even next year so you can see Apple's in a a bit of a quander right now they're dealing with a lot more regula regulation push back we're talking about an innovation shift that is occurring right now they've scrapped their EV program they've started to figure out how they can Implement AI faster they're talking about New Deals and Partnerships there now you have meta coming out here and doing crazy things kind of scorched Earth in terms of opening up operating systems both on the device what it simply means is technology is in a major shift going forward this is an interesting statement right here Innovation and risk-taking Echo our country's deep rooted history this of course is mron talking about France now one of the things deep into the article is this statement right here I hope that I maintain our our main cultural establishments will develop an nft policy for example uh through promotion dissemination and protection of twins or variations of their physical collections this is where we get into digital phys physical that will be huge in the EU obviously around everything from goods and services we'll see this in the luxury goods Market I think in a big way and also it starts to separate the EU as a new power center of how NTS are going to be used so again gets back to the whole situation with apple which you do not find Happening Here here in the US as much now all right so as you can see there I want to go to a clip here that kind of puts stripe in a very precarious situation because they're trying to catch up here and of course as you can imagine they are now playing from behind the game so they've panicked a little bit they've done a lot of things in this next video that I think will surprise you especially if you're in retail listen in you know 10 years ago we became the first major payments company to support Bitcoin as a payment method and Bitcoin was a pretty terrible payment method uh transactions took ages they're very expensive so 2018 we actually turned it off and so I have something for you we're excited to announce that we're bringing back crypto as a way to accept payments but this time with a much better experience this is uh the stripe check out you know and love new functionality over here on the right uh we can pay with crypto we'll tap pay here we'll go to a confirmation screen this is our confirmation page you know we passed in the email address for the checkout here we're selecting what chain we want to pay with we're going to pay with salana uh here we're selecting you know what wallet we want to use you know we could use coinbase wallet or metam Mouse I'm going to use Phantom when I pay here it's going to bring up some UI from Phantom so this is the Phantom UI here this is not stripe UI and you see here we're confirming now again you're probably used to a crypto transaction You're Expecting uh you know me to bring out another guest here and you know we'll do a 8 Minute uh conver conversation while we wait for the transaction to clear but that is old crypto uh you're ready for the new crypto world you have to look very closely and not blink you ready oh that tap that's it we're done and again stripe handles everything for you you just got $98 into your bank account that is crypto coming back to stripe that will be coming later this summer all right so as you can see right there one of the key things that stripe is done is they've used kind of a I won't say cobbled but they're they're utilizing third parties they've obviously moved into salana on usdc the integration is now going to be happening at a very very fast rate guess what in time for what's happening June 30th which is St coin Revolution and now you get the picture now you get the picture because this is what's going to happen in the United States when regulatory alignment is at play and I think now finally our lawmakers have seen the Innovation that's occurring and they're now playing catchup much like stripe is playing right now so I want to go to this next tweet right here Avalanche tweets out Stripes expansion into crypto continues today integrating Avalanche core uh to provide easier access to web 3 core app is the Avalanche app think of that as the Phantom of of avalanche okay this happened literally over the weekend so on the 29th all of this is coming at a very very fast rate and there's good reason for that I think now people have started to understand the Dynamics of what's behind this movement in not only ma but also the stable coin regulation uh for the EU so huge potential here for web 3 on boarding and web 3 ramps on ramps for playing in web 3 games this of course will change things pretty significantly so let me go over to this last uh tab this kind of goes into something actually I got a couple things I want to show you as well but this is the ECB the European Central Bank and when you look at the overall Market size of non-cash payments so these are all digital transactions retail transactions Etc $11 trillion is at stake can you imagine how quickly we are going to see stable coins invade that $11 trillion that's the point that we're talking about here's contactless payments at a half a trillion transactions processed by retail Payment Systems 23 trillion you get the picture further down in the article they go into a little bit of the card payments is this is the number of contactless card payments initiated by physical electronic funds transfer point of sale terminal around 24% 20.9 billion compared to the first half of 20122 so it's growing further in the article at the end of 2023 the total number of point of sale terminal increased by 133% to almost 20 million compared to the number at the end of the first half of 2022 of these terminals 83% accepted contactless transactions so we have to consider how this is going to apply into contactless payment meaning mobile app which we've seen already an invasion of mobile app usage and I think that is really the future of where most of these transactions are occur and the key here is what how retailers are going to be able to implement this one of the platforms that we're watching right now is FN this is a mobile first wallet Cash Out ramp and point of sale super app we'll call it and the key here with it is it's stripe enabled it's salana and evm compatible for blockchains and it's a point of sale interesting in is the way that it actually runs settlement if you can kind of see there's a lot of redundancy that's built into this system that's showing The Saga I thought that was kind of interesting showing The Saga phone as the point of sale terminal also showing B which is bluetoo Bluetooth low energy uh different types of low Rand devices which could run off of a helium Network as well as traditional AWS and traditional internet connectivity so point being a lot of redundance here redundancy here for this now this next clip gets into how this is going to play out because this gets interesting because the key here is how fast is the adoption with ma opening up the gates how fast is the ad option listen it efficent is a wallet and a point of sale super applications that combine traditional Finance with web3 Services the merchant will have the point of sale and will create a QR code with the amount they input all the information about the purchase and they create a QR code meanwhile in the wallet they just will scan the QR code and it will show all the details of the purchase we will paint and show the gas fees and the transactions we will sign through Biometrics or PIN code and the transaction is complete here on the point of sale you can print the receipt when you can see all the information about the transactions to give it to our client has the information and a QR code this QR code would lead us to the Explorer so we can check all the transactions and we decide to create this because in Latin America 68% of the transactions are cash so very big development here for point of sale especially tied to uh crypto especially tied to blockchain and the key here is going to be how do you expand it because remember in blockchain there's a lot of module staps that are out there the potential for this becomes really infinite and this next clip goes into how they're applying these modules within the salana ecosystem listen it the main idea is to have customizable modules for each business now we have a computer module if your client has B Blaze or any SPL token with the swap on payment module select the source token and receive usdc through Jupiter Swap and Sol a pay with the Tipping modules send any payment request by email and just wait for it to be paid by the client the payments will be reflected live on the dashboard this is the Wormhole module you can receive Crush chain payments directly from aax ethereum or polygon directly to Solana and lastly we have the traditional Finance module where you can receive payments via credit cards links and manage your inventory directly with strip services and we remove all the guest work with our own generative AI service just input a description and it will select the settings for you all right so many of you probably know nothing about running a retail business but if you're in retail Restaurant Hospitality anywhere where you're taking a lot of transactions you know what's up up and what I mean by that is the fees the problems the settlement meaning you getting your money all of that I think is about to change and if we see this kind of deployment of not only Hardware software blockchain settlement and a monetary system this is a revamp this is a huge revamp and right now the EU is in the middle of leading the way so it's going to be one to watch for sure you guys make sure and stick around right here we'll get into more of this as we dive further into what things what things are happening not only within Europe but also I think here in the United States with our own stable coin Bill adoption hopefully this year uh if you're not in the diamond Circle get in right now it's a great place to get additional content make sure and follow me on X Paul Baron we'll catch you next time right here on techb [Music]

Channel: Paul Barron Network

Views: 198,477

Keywords: solana, eu mica, markets in crypto-assets, patrick hansen mica, jeremy allaire, usdc, tether, stablecoin regulation, stablecoins to buy, stablecoin bill, stablecoin legislation, eu crypto, european metaverse, france crypto, france, nft, metaverse, european union, crypto regulation, avalanche avax, stripe, visa, pay pal, pay pal usd, solana price prediction, solana crypto, solana news, solana nft, solana phone, effisend, coinbase

Id: sQBojBGYcDs

Length: 24min 21sec (1461 seconds)

Published: Mon Apr 29 2024