Kiln Rendez-Vous Podcast

In this second episode of Kiln L1 Ecosystems Rendez-Vous, we sit down with Don Wilson, the founder and CEO of DRW. DRW is a diversified trading firm with over 2,000 employees across major financial hubs with proven expertise innovating across both traditional and cutting-edge markets. Listen as Don shares his unique insights on:🔸 The origins of DRW and its evolution into a global trading powerhouse🔸 How DRW entered the crypto space (hint: Bitcoin in 2012!)🔸 The birth of Cumberland (now a top crypto liquidity provider) and Digital Asset (company pushing Canton Network)🔸 Why privacy and composability are critical for institutional DeFi adoption🔸 DRW’s groundbreaking work on tokenized treasuries and collateral mobility🔸 The future of Canton Network as a bridge between TradFi and blockchainDon also discusses the regulatory landscape, the convergence of AI and finance, and why he believes Canton could become the go-to L1 for institutional assets.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 - Intro01:32 - Don’s background & founding DRW03:59 - DRW’s early crypto bets (Cumberland, Bitcoin, Digital Asset)07:37 - Cumberland’s role in crypto liquidity09:50 - Institutional adoption of DeFi11:45 - U.S. crypto regulation updates14:02 - The genesis of Digital Asset & Canton Network17:18 - Why privacy matters in institutional blockchain24:14 - Tokenizing real-world assets (RWA) on Canton27:28 - Canton's 5-10 year outlook28:58 - What excites Don most about finance & tech today

In this episode, we sit down with Yuval Rooz, CEO & Co-founder of Digital Asset, the company behind Canton Network—the leading blockchain for regulated finance, trusted by Goldman Sachs, Deutsche Börse, and more.Canton isn’t just another L1—it’s the future of onchain finance, blending institutional-grade infrastructure with DeFi’s composability. Tune in to learn how it’s bridging TradFi and crypto, without compromises. We dive into:🔹 Canton’s $135M strategic round (backed by Citadel, Goldman Sachs, Circle & more)🔹 Why privacy ≠ anonymity—and why it’s critical for institutional DeFi🔹 How Canton scales horizontally while maintaining seamless interoperability🔹 $4T+ in tokenized assets already on Canton (and why you haven’t heard about it)🔹 Real-world use cases from NASDAQ, Tradeweb, and beyondPODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 - 01:14 – Introduction & Canton’s Momentum01:14 - 03:15 – Yuval’s Background: Finance to Crypto03:15 - 06:10 – Building Canton: The Early Days06:10 - 12:10 – Canton’s Core Innovations12:10 - 17:04 – Architecture Deep Dive17:04 - 23:20 – Institutional Use Cases23:20 - 28:17 – Ecosystem & Validators28:17 - 35:38 – Why Canton’s Flying Under the Radar35:38 - 41:48 – Future of Canton41:48 - 52:20 – Rapid-Fire Q&A52:20 - End – Closing Remarks

In this insightful episode of Kiln DeFi Rendez-Vous, host Laszlo Szabo, CEO & Co-Founder at Kiln, sits down with Duncan Moir, President of 21Shares, the world’s largest crypto ETP issuer, for a deep dive into the explosive growth of Bitcoin ETFs, the evolving landscape of institutional crypto adoption, and what’s next for digital asset investing.Less than a year after their launch, Bitcoin ETFs have captured nearly 70% of the trading volume of gold ETFs (GLD)—a staggering milestone that underscores the pent-up demand for crypto exposure in traditional finance. Duncan breaks down why this is just the beginning, with the $40 trillion US pension fund market still largely on the sidelines.The conversation explores how major players like Goldman Sachs are entering the space, why Ethereum ETFs haven’t seen the same success as Bitcoin (yet), and the critical role of staking in ETPs—especially in Europe, where 21Shares has pioneered innovative products. Duncan shares his unique perspective on regulation, from the UK’s recent shift allowing retail crypto ETNs to the SEC’s cautious approach in the US.With over 40 crypto ETPs under its belt, 21Shares has become a bellwether for institutional crypto adoption. Duncan reveals how the company selects new assets, from blue-chip tokens to emerging altcoins, and why Dogecoin—often dismissed as a memecoin—has surprising institutional potential. He also discusses the growing intersection of traditional finance and on-chain assets, including the tokenization of real-world assets (RWA) like BlackRock’s BUIDL money market fund.Before joining 21Shares, Duncan spent years in hedge funds and asset management, eventually leading Aberdeen’s digital asset division and serving on the board of Hedera Hashgraph. He shares lessons from his journey, including how blockchain can streamline archaic financial systems and why crypto is maturing beyond speculative trading into a strategic portfolio allocation.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 – Intro & ETF Momentum02:49 – Duncan’s Crypto Journey05:27 – Tokenization & Hedera08:43 – ETF Adoption: US vs Europe10:39 – UK Retail & Regulation Shift14:12 – 21Shares Structure & Global Focus16:36 – ETH vs. BTC ETF Performance18:58 – Staking & Liquidity Constraints23:39 – Coin Coverage & Research Process27:17 – Tokenized Assets & Future Products30:26 – What Excites Duncan Today32:23 – Dogecoin & Community-Driven Use Cases

Join us for an insightful conversation between Marieke Flament—seasoned tech executive, investor, and former CEO of the NEAR Foundation—and Thomas De Phuoc, COO and Co-Founder of Kiln, as they reflect on their years of collaboration, leadership lessons, and the evolving landscape of startups and Web3.This discussion begins with a look back at how their professional paths first crossed in 2017 at Circle, where Marieke played a pivotal role in shaping Thomas’s early career. From there, the conversation unfolds into a masterclass on leadership, team-building, and the nuances of scaling a company with intention.Marieke shares her unique perspective on hiring, emphasizing the importance of passion over pedigree, and why cultural fit can make or break a company. Drawing from her experiences at Expedia, Circle, and NEAR, she breaks down the dynamics of high-performing teams, comparing them to a well-coordinated basketball team where trust and collaboration overtake individual brilliance.Thomas echoes these insights, reflecting on Kiln’s journey and the principles that have guided its growth—transparency, storytelling, and resilience in the face of crypto’s notorious volatility. Together, they explore how founders can maintain focus during market downturns, why self-awareness is non-negotiable for leaders, and how Europe’s tech ecosystem can compete on a global scale despite regulatory fragmentation.A highlight of the discussion is Marieke’s work with Project Europe, an initiative uniting founders and operators to strengthen the continent’s startup ecosystem. She outlines the challenges—such as complex cross-border investment rules and inconsistent stock option policies—while expressing optimism about Europe’s deep talent pool and long-term commitment to innovation.The conversation also touches on the transition from operator to board member, the role of coaching in leadership development, and the personal habits that help founders navigate high-pressure environments.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 - Introduction & How They Met 00:48 - Marieke’s Career Journey (Circle, Expedia, Near) 03:35 - Why Tech? + Lessons from Early Roles 04:11 - Building Culture & High-Performing Teams 06:00 - Hiring Passionate People & Interview Tips 09:14 - Leadership, Trust & Team Dynamics 13:06 - Scaling, Storytelling & Culture Alignment 23:23 - Coaching, Self-Awareness & Growth 28:59 - European Tech & Project Europe 34:30 - Talent, Retention & Ecosystem Strengths 36:23 - Serving on Boards & Strategic Leadership 43:43 - Macro Trends, Resilience & Long-Term Focus 50:41 - Lessons Learned & Final Takeaways

In this conversation, Jess Houlgrave, CEO of Reown, discusses the evolution of blockchain technology and its implications for the financial system. She shares her journey from traditional finance to the crypto space, emphasizing the importance of user experience in Web3. The discussion covers the rise of stablecoins, the evolution of wallets, and the decentralization of Wallet Connect. Jess also highlights the monetization strategies for Web3 and the integration of AI in enhancing user experiences. The conversation concludes with a forward-looking perspective on the future of payments and the role of innovation in the crypto ecosystem.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 Introduction to Reown and Blockchain Innovations02:51 Jess Journey from Traditional Finance to Crypto06:08 User Experience Challenges in Web309:03 Wallet Connect's User Base and Global Reach11:52 The Rise of Stablecoins in Emerging Markets15:10 The Evolution of Wallets and User Preferences18:01 Decentralization and Governance of Wallet Connect20:53 Reown: A New Era for Wallet Connect23:47 Monetization Strategies in Web326:54 The Future of Payments and Crypto Integration29:49 The Role of AI in Crypto and User Experience33:06 Conclusion and Future Outlook

Join Laszlo Szabo, CEO & Co-Founder of Kiln, for a conversation with Adam Levine, SVP of Corporate Development & Partnerships and CEO of Fireblocks Trust Company.In this episode, Adam shares insights into Fireblocks’ strategic expansion into regulated custody, explaining why they launched their New York-based trust company, how it serves institutional clients like VCs and market makers, and the operational challenges of balancing innovation with compliance.The discussion dives into the role of stablecoins in global payments, with real-world examples from emerging markets like Brazil and Argentina, where dollar-denominated stablecoins are mitigating currency volatility and accelerating cross-border transactions. Adam also unpacks Fireblocks’ vision for tokenization—from traditional assets like T-bills to unconventional ones like investment-grade wine—and how interoperability between blockchains will unlock liquidity in the years ahead.Security remains a cornerstone of the conversation, as Adam reflects on lessons from high-profile hacks (including the recent Bybit incident) and how Fireblocks’ infrastructure prioritizes risk mitigation without compromising efficiency. Looking forward, he predicts 2025 will be a year of decisive action for banks and asset managers, with stablecoins and tokenization moving from pilot projects to core infrastructure—even if the full impact may take years to materialize.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id172924722600:00 - Introduction02:15 - The Fireblocks Trust Company: Bridging tech and regulation10:30 - How custody changes Fireblocks’ day-to-day operations18:45 - Stablecoins as the backbone of global payments27:10 - Tokenization beyond crypto: Bonds, wine, and fractional ownership35:50 - Security lessons from Bybit and protecting institutional assets45:20 - Why 2024 is the year banks make big blockchain decisions52:00 - What’s next for Fireblocks? Interoperability and beyond

In this episode, John Mulreany interviews Jacob Phillips, Co-Founder of Lombard Finance, discussing his journey into the blockchain space, the opportunities in Bitcoin DeFi, and the role of LBTC as a liquid-staked representation of Bitcoin. They explore the differences between retail and institutional users, the significance of Babylon in Bitcoin staking, and the security measures implemented in Lombard's protocol. In this conversation, Jacob discusses the company's unique position in the Bitcoin LST space, their roadmap for expanding adoption through partnerships, and innovative strategies like pre-deposit vaults. He also addresses yield opportunities with LBTC, future milestones focusing on scalability and sustainability, and the intersection of AI and crypto as a significant trend.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id1729247226Curious to know more about Kiln?👉 Check our website https://www.kiln.fi/👉 Join our Telegram channel for the latest updates https://t.me/Kiln_finance👉 Register to our newsletter https://www.kiln.fi/newsletter00:00 Introduction to Lombard Finance and Jacob Phillips02:58 Jacob's Journey into Blockchain and Crypto05:57 Identifying Opportunities in Bitcoin DeFi09:12 Understanding LBTC and Its Role in DeFi12:00 Retail vs. Institutional Users of LBTC15:00 The Role of Babylon in Bitcoin Staking18:05 Security Considerations in Lombard's Protocol31:58 Lombard's Unique Position in Bitcoin LSTs32:08 Expanding Adoption: Partnerships and Roadmap34:09 Innovative Pre-Deposit Vaults: A New Approach39:42 Yield Opportunities with LBTC: Simplifying Returns44:20 Future Milestones: Scalability and Sustainability48:10 The Intersection of AI and Crypto: Future Trends

Join us for an in-depth conversation with Raagulan Pathy, Co-Founder of KAST, and host Laszlo Szabo, CEO & Co-Founder at Kiln, as we explore how stablecoins are reshaping the global financial system. Raagulan shares his journey from traditional web2 industries to becoming "the stablecoin guy". He discusses how his experiences—from working in telecom in Nigeria to scaling cloud infrastructure—shaped his vision for KAST, a platform bridging the gap between traditional banking and decentralized finance.Throughout the episode, we cover:• The real-world utility of stablecoins: How projects like USDC are solving inefficiencies in emerging markets and beyond.• KAST’s mission: Building a seamless, bank-like experience for stablecoin users worldwide, including virtual accounts, payment links, and multi-chain compatibility.• The future of DeFi and regulation: Why stablecoins are gaining traction despite regulatory uncertainty, and how KAST navigates licensing across borders.• Upcoming innovations: Insights into KAST’s self-custodial wallet, yield-generating stablecoins (USDK/USDKY), and long-term plans for an L2 tailored to payments.Raagulan also shares his thoughts on crypto adoption, the pitfalls of short-term token incentives, and why user experience will determine the winners in the onchain economy. Whether you're a crypto native or new to stablecoins, this episode offers a compelling look at the infrastructure underpinning finance’s next chapter.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id1729247226Curious to know more about Kiln?👉 Check our website https://www.kiln.fi/👉 Join our Telegram channel for the latest updates https://t.me/Kiln_finance👉 Register to our newsletter https://www.kiln.fi/newsletter

In this conversation, Nanak Nihal Khalsa discusses his journey into the crypto space, focusing on decentralized identity, the concept of human keys, and the importance of entropy in cryptography. He explains how the Human Network aims to provide secure and private identity solutions while addressing compliance challenges. The discussion also touches on the vision of the Holonym Foundation and the broader implications of digital rights in developing countries.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id1729247226Curious to know more about Kiln?👉 Check our website https://www.kiln.fi/👉 Join our Telegram channel for the latest updates https://t.me/Kiln_finance👉 Register to our newsletter https://www.kiln.fi/newsletter00:00 Introduction to Nanak Nihal Khalsa and His Journey03:40 Understanding Decentralized Identity and Its Importance06:31 The Concept of Human Keys and Their Role10:12 Entropy in Cryptography and Its Significance15:58 Backup Mechanisms for Human Keys19:10 Leveraging Restaking Protocols for Network Security22:55 Economic Security and Collateral in the Human Network25:14 The Vision of the Holonym Foundation27:36 Use Cases of Human Network Beyond Crypto32:48 Balancing Privacy and Compliance in B2B Settings37:09 Digital Rights and the Future of Crypto

In this episode, Douwe Faasen, CEO & Co-Founder at HyveDA shares his journey into the crypto space, discussing the importance of data availability and how HyveDA aims to revolutionize this aspect of blockchain technology. He explains the lifecycle of data blobs within HyveDA, potential real-world applications, and the use cases of AI and DePin. Douwe also highlights the unique features of HyveDA, including its approach to restaking and shared security, and discusses future milestones for the project.PODCAST INFO:🌐 Website:https://www.kiln.fi/podcasts🟢 Spotify:https://open.spotify.com/show/0QSnhSLXxVDgBAUMnKnPz1🟣 Apple Podcasts:https://podcasts.apple.com/us/podcast/kiln-rendez-vous-podcast/id1729247226Curious to know more about Kiln?👉 Check our website https://www.kiln.fi/👉 Join our Telegram channel for the latest updates https://t.me/Kiln_finance👉 Register to our newsletter https://www.kiln.fi/newsletter00:00 Introduction to HyveDA07:49 HyveDA's Unique Approach to Data Availability14:43 Real-World Applications of HyveDA's Throughput19:50 The Symbiotic Relationship Between HyveDA and Symbiotic27:23 Mitigating Data Withholding Attacks33:47 Douwe's Interest in DeFi and Closing Thoughts