Rebuilding the Financial System w/ Mike Cagney

The future of finance is being built onchain. But what will it take to bring the next generation of financial infrastructure to the mainstream?Welcome to Season 2 of Money Code, with brand-new hosts Rob Hadick, General Partner at Dragonfly, and Nick van Eck, Founder & CEO of Agora. To kick off the new season, they sit down with Mike Cagney, Co-founder and Executive Chairman of Figure, to explore how blockchain technology is reshaping lending, capital markets, and the financial system itself.From tokenized assets and onchain lending to the opportunities and challenges facing traditional financial institutions, Mike shares his perspective on where financial infrastructure is headed, what it will take to drive adoption, and why the next chapter of finance may look very different from the one we know today.Money Code is back for Season 2, bringing together the founders, investors, and operators building the future of money.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSN00:00 Cold Open00:10 Welcome to Money Code Season 201:19 Mike Cagney’s Journey from SoFi to Figure05:00 SoFi’s Evolution and the Challenges of Traditional Lending09:01 Why Figure Bet on Blockchain14:05 The Future of Tokenized Equities and Stock Lending23:49 Stablecoins, Payments, and the Future of Banking36:59 Figure’s HELOC Business and DeFi Lending44:05 Navra and Making DeFi Accessible to Institutions47:08 AI, Entrepreneurship, and Building the Next Generation of Finance52:00 Building Companies with Family and Advice for FoundersConnect with our Hosts and Guest: Nick van Eck: https://x.com/Nick_van_Eck https://www.linkedin.com/in/nick-van-eck-17036212a/Rob Hadick: https://www.linkedin.com/in/rob-hadick/https://www.linkedin.com/in/mikecagney/Mike Cagney:  https://www.linkedin.com/in/mikecagney/Presenting Sponsor: TransakThis season of Money Code is presented by Transak, the payments infrastructure that connects traditional money with stablecoins and crypto. Through a single API, any financial app can enable its users to onboard, fund, and withdraw stablecoins and crypto without leaving the app. Whether you’re building a wallet, exchange, neobank, remittance app, payroll platform or any other financial app, Transak carries the licenses, compliance and local banking across key markets, so your users can move between cash and stablecoins wherever they are. If you’re building a fintech app, learn more at transak.com/moneycode.

In this episode of Money Code, Sanjib Kalita sits down with Maggie Wu, CEO and co-founder of VelaFi, to discuss the challenges of cross-border payments in Latin America and how stablecoins can help businesses move money faster and at lower cost.Maggie shares VelaFi's journey from Mexico to markets across Latin America, explaining how the company built its payment infrastructure around local licensing, banking relationships, and compliance. They also discuss the growing demand for stablecoin payments, why B2B businesses have a greater need for cross-border solutions, and what it takes to build financial infrastructure across multiple emerging markets.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSN00:00 - Maggie Wu and the origins of VelaFi02:45 - From crypto investing to stablecoin payments04:50 - Why VelaFi started in Latin America07:20 - Building compliant cross-border payment infrastructure09:50 - How customer feedback shaped the product12:20 - Expanding across Latin American markets14:35 - Building local teams and maintaining compliance16:20 - Why VelaFi focuses on B2B payments18:45 - The growing demand for stablecoin payments21:10 - Why emerging markets are adopting stablecoins23:35 - VelaFi’s competitive advantage25:35 - Growth, fundraising, and scaling the business27:55 - Maggie’s journey as an entrepreneur29:45 - What’s next: AI and building with agentsConnect with our Host and Guest: Sanjib Kalita: linkedin.com/in/sanjibkalitaMaggie Wu: https://www.linkedin.com/in/maggie-wu-164a0797/About StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.

In this episode of Money Code, host Sanjib Kalita sits down with Shan Aggarwal, Chief Business Officer and Head of Investor Relations at Coinbase, to unpack where crypto, stablecoins, and traditional finance are heading next. They explore Coinbase’s vision for an open financial system built onchain and why stablecoins are becoming an increasingly important piece of financial infrastructure.The conversation also dives into tokenized assets, agentic commerce, and the rise of machine-to-machine payments. Shan explains why stablecoins could be particularly well suited for AI-driven transactions and what needs to happen for onchain finance to become more seamless, accessible, and interconnected.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSN00:00 – Intro: Shan Aggarwal and Coinbase03:20 – From Venture Investing to Coinbase09:55 – Building a Global Crypto Platform12:56 – Stablecoins and the Future of Onchain Finance16:39 – Coinbase and the Rise of Agentic Commerce22:32 – Build, Buy, Partner or Invest?34:42 – Coinbase’s 5–10 Year Vision for Finance41:05 – The Convergence of Traditional Finance and Crypto46:57 – The Evolving U.S. Crypto Regulatory Landscape52:17 – Shan’s Outlook on the Future of FinanceConnect with our Host and Guest: Sanjib Kalita: linkedin.com/in/sanjibkalitaShan Aggarwal :https://www.linkedin.com/in/shan-aggarwal-2a314b49/About StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Manuel Godoy, co-founder and CEO of Felix, the WhatsApp-native remittance company that has processed north of $6B across Latin America.They unpack how Felix turned an existing WhatsApp receipt-sharing habit into a remittance product, why stablecoins gave a small startup "economies of scale," and what it takes to build a broader financial companion for Latino immigrants in the US.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 Felix starts with trust, not rails02:49 Why remittance still starts in cash stores05:08 WhatsApp was already in the flow06:17 The first Felix product ideas failed09:03 Why senders trust recipients with the money11:28 Leticia: from hesitant user to ambassador13:21 Scaling trust beyond founder selling17:40 The ugly TikTok video that unlocked growth20:48 Felix passes $6B across Latin America23:16 Why Felix is becoming more than remittances31:44 Stablecoins as small-startup scale38:18 What breaks in weak-liquidity corridors41:42 WhatsApp as the product platform45:58 The financial companion opportunityConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzManuel Godoy: https://x.com/manueljgodoymFelix: https://felixpago.com | https://x.com/FelixpagoAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Pritpal Shokar, Head of Product for Digital Assets at Thunes, to trace how a global payment network moves money across 140 countries, 90 currencies, and 220 payment methods.They unpack how stablecoins can reduce prefunding from days to hours, why local demand determines which corridors can adopt them, and why Pritpal says a capital-light network makes Thunes' core business stronger.Chapters00:00 Defining Thunes and the last-mile problem03:22 Building a payment network one market at a time05:31 Mobile wallets are the account07:14 Why instant payouts still require prefunding10:36 Stablecoins move funding from days to hours13:49 Local demand determines viable stablecoin corridors17:11 Thunes tested stablecoins in its own treasury21:35 Tokenized deposits keep money inside banking27:02 Supporting new forms of money without picking winners30:29 Programmable settlement, DeFi, and on-chain yield35:40 Capital was never the product39:10 Preparing for agentic payments before demand arrives42:55 Start with one corridor problemTimestamps may change after final editing.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzPritpal Shokar: https://uk.linkedin.com/in/pritpal-shokar | https://www.thunes.com/ | https://www.linkedin.com/company/thunespaymentsAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Benji Fernandes, founder and CEO of NALA, a remittance business for diaspora customers, and Rafiki, its B2B infrastructure arm for emerging-market payouts, collections, and stablecoin settlement.They unpack how consumer remittance volume pushed NALA to own more of the rails, why 96 out of 100 stablecoin trades in its markets are USDT, and why licenses, liquidity, and local payout infrastructure decide what stablecoins can actually do.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 What NALA does: remittance, Rafiki, and emerging-market rails01:56 Why Benji entered a "saturated" remittance market04:56 The failed first version of NALA06:35 Africa's fragmentation problem: 54 countries, 40 currencies08:20 The FX loss that pulled NALA into infrastructure12:48 The NALA stack: ledger, treasury, distribution18:47 Where stablecoins actually help20:43 Three stablecoin patterns Benji is watching26:13 Local wallets: four customer problems inside one product31:09 The liquidity problem behind stablecoin on/off ramps35:29 "Solve my problem fastest": what users care about36:10 The stablecoin hype Benji pushes back on40:44 TAM has to follow customer behavior44:39 Payments for the next billion47:40 Why Rafiki scaled after everyone called it a distraction49:56 Where to find Benji and NALAConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chukxyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzBenji Fernandes: https://www.linkedin.com/in/benjaminf7/ | https://x.com/BenjiFernandes | https://www.nala.com | https://www.rafiki.comAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.

In this special crossover episode from Stable Pulse, host Nik Milanović sits down with Chairman French Hill to discuss the GENIUS Act, the CLARITY Act, and the future of stablecoin regulation in the United States. They explore how stablecoins are reshaping payments, what clear regulation means for banks and non-bank issuers, and why the distinction between stablecoins and tokenized deposits matters. Chairman Hill also shares his perspective on reserve standards, compliance, and how policymakers are balancing innovation with consumer protection. The conversation concludes with a look at the future of asset tokenization, blockchain-based financial markets, and what it will take for the U.S. to remain a global leader in digital finance.If you enjoyed this episode, be sure to subscribe to Stable Pulse for more conversations with the leaders shaping the future of stablecoins, payments, and digital finance.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Jack Chong, co-founder and CEO of Checker, a stablecoin liquidity network for regulated financial institutions that processed more than $3B over the last 12 months.They unpack why "USD is not the same in different countries," how stablecoins are creating a correspondent banking 2.0 layer, and why stablecoin payments still depend on local liquidity, settlement timing, and the bottlenecks around them.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 Checker’s stablecoin network for financial institutions01:48 Convert and trade vs send and receive04:30 Why one API is not enough09:33 Demand side, supply side, and who actually provides liquidity13:26 "USD is not the same in different countries"17:15 Correspondent banking 2.0 for emerging-market fintechs20:27 How Checker expands beyond convert and trade23:11 Float, settlement financing, and money at rest28:09 Why USDT and USDC are not always one-to-one35:09 What makes a stablecoin liquid38:54 Start with the customer’s P&L, not the token46:02 Showing up: what Jack learned in Lagos and Brazil50:47 Where to find Jack and CheckerConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzJack Chong / Checker: https://www.linkedin.com/in/jack-chong/ | https://www.checker.financeAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Mark Frey, Group President of Corpay Cross-Border Solutions, which moves money to almost 200 countries in 145 currencies, and Keith Vander Leest, US General Manager at BVNK, fresh off the two companies launching embedded stablecoin wallets for Corpay's corporate clients.They unpack why cost "is not really a big driver" for stablecoin adoption when in-country payments already cost pennies, why the real prize is moving trapped liquidity 24/7 after wire cutoffs, and why "no one's really asking for stablecoins" even as providers route more volume onto them.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 What Corpay manages across 145 currencies and 200 countries03:08 The launch: embedded stablecoin wallets for corporate clients05:38 Blockchains as the fourth generation of payment rails08:38 "Cost is not really a big driver": the 24/7 unlock10:15 "Swift is sleeping": instant rails that don't interoperate14:36 "No one's really asking for stablecoins"21:24 Blockchain will disintermediate SWIFT26:55 Why stablecoins need more than dollars31:17 "We wanted to get on offense": how an incumbent ramps up34:56 The 80/20 problem: stablecoin volume is still mostly crypto trading38:14 Public stablecoins and private bank chains, hand in glove43:06 "Why are we talking about yield on balances?"46:48 Where to find Mark, Keith, Corpay, and BVNKConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzMark Frey: https://www.linkedin.com/in/mark-frey-cross-border-payments/ | https://www.corpay.comKeith Vander Leest: https://www.linkedin.com/in/keithvanderleest/ | https://bvnk.comAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.

Presented by Stablecon; Powered by BVNK.In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Alfonso Gómez-Jordana and Rodrigo Fernández Touza, co-founders of Crossmint, a financial infrastructure company building wallets, stablecoin orchestration, and agentic commerce tools.They unpack why launching fintech globally can move from country-by-country banking integrations to a single API, how compliance shifts to infrastructure providers with economies of scale, and why the loudest agentic-payment narratives still have little volume compared with B2B procurement and payment collection.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 Crossmint's evolution from NFT checkout to financial infrastructure02:12 No API for economic activity04:14 The monastery origin story behind Crossmint07:51 Why NFT checkout became stablecoin infrastructure10:02 Embedded finance: turning remittance receivers into wallet customers13:23 Stablecoins as the universal API for global fintech16:12 The regulatory-arbitrage objection21:10 Four compliance surfaces in stablecoin programs23:55 MoneyGram: reducing costs and turning receivers into customers25:59 Marshall Islands: replacing cash-by-boat with stablecoin wallets30:44 Agentic finance: real usage versus narrative heat37:10 Why agents need multi-rail infrastructure43:27 How Crossmint decides what to build next48:39 Building enterprise trust in a frontier market53:14 Where to find Alfonso, Rodri, and CrossmintConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | https://stablecoinblueprint.comRaj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyzAlfonso Gómez-Jordana: https://x.com/alfongjRodrigo Fernández Touza: https://x.com/rodrifernandeztCrossmint: https://www.crossmint.com | https://x.com/crossmint | https://www.linkedin.com/company/crossmint-ioAbout StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.