Fireblocks VP : The big names will not go back to traditional payments after discovering the potential of crypto payments

Fireblocks VP : The big names will not go back to traditional payments after discovering the potential of crypto payments

Ran Goldi is the vice president for payments at Fireblocks. He believes that speed and affordability will keep brands who have implemented crypto payment in the past two years.

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Hashing It Out episode 16 examines one of the more popular uses for cryptocurrency: payments. Elisha Owusu Akyaw and Ran Goldi are joined by Fireblocks’ Vice President of Payments to discuss the rapidly changing world of crypto. They also explore the adoption steps, stablecoins and obstacles, such as the failure of crypto-friendly US banks.

The conversation starts with a discussion about the impact of the failure of crypto-friendly US banks. Goldi is of the opinion that current banking problems in the U.S. do not help with crypto adoption. According to Fireblocks’ vice president of payments, these issues undermine the confidence of firms in using blockchain technology such as stablecoins to transfer money globally.

Silvergate was shut down after we had a company working with it. Then, SVB was shut down. We then told them to relax, as we would introduce Signature the following week. But, by then, Signature had disappeared.

Goldi believes that despite the challenges in the banking industry and the regulatory environment, 2023 will see more crypto adoption through payments. Fireblocks’ vice president of payment argues that many big names, such as PayPal, Checkout and Stripe, have entered the digital assets industry in recent months. Once they realize they can get more done while paying less and quicker, they won’t go back.

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Goldi explains how blockchain payments can allow for quicker cross-border payments, which don’t take three to four days to settle. Goldi also believes that institutions will be the first to adopt cryptocurrency payments. He says that financial rails will change between institutions in the future, and the majority of firms will adopt blockchain technology to help move money more quickly.

Listen to the most recent episode of Hashing It Out With Ran Goldi via Spotify, Apple Podcasts Google Podcasts and TuneIn. On the Cointelegraph podcasts page, you can browse Cointelegraph’s entire catalog of informative audio podcasts.