{"id":32729,"date":"2025-06-19T17:17:07","date_gmt":"2025-06-19T17:17:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=32729"},"modified":"2025-06-19T17:17:07","modified_gmt":"2025-06-19T17:17:07","slug":"99bitcoins-exclusive-zodia-markets-co-founder-nick-philpott-says-if-you-wait-for-the-regulator-youll-have-no-innovation-at-all","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=32729","title":{"rendered":"99Bitcoins Exclusive: Zodia Markets Co-founder Nick Philpott Says, \u201cIf you wait for the regulator, you\u2019ll have no innovation at all\u201d"},"content":{"rendered":"
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Nick Philpott, Co-founder of Zodia Markets \u2013 a digital asset trading business that has a strong backing from traditional financial giants like the British Bank, Standard Chartered Bank \u2013 has a controversial take on the need of regulatory clarity. Speaking during the Nordic Blockchain Association<\/a> on 17 June 2025 he said that most regulations just synthesize down to don\u2019t lie, don\u2019t cheat, and don\u2019t steal. <\/span><\/p>\n

\u201cSaying that you need to wait for the regulator to say \u2018yes, you can do this or that\u201d means you\u2019ll have no innovation at all,\u201d insisted Philpott.\u00a0<\/span><\/p>\n

Talking about stablecoins specifically he said, \u201cStablecoins are definitionally cross-border.\u201d However, expressing concerns about Markets in Crypto-Assets (MiCA), he said, \u201cOne of my biggest concerns around MiCA is that there are definitely traces of protectionism in there, trying to put the walls up, trying to promote the adoption of Euro stablecoins. I get it. But the problem is if you put walls up in a world that is globalizing, that has a tool, that is definitionally global, then you\u2019re going to cut yourselves off from quite a lot of those opportunities.\u201d<\/p>\n

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\u201cThe way I think about things like USDC or Tether particularly, is that they\u2019re Eurodollars. We\u2019ve had Eurodollars since the 1950s. Tether is issued by an El Salvadorian company. It\u2019s not issued out of the US. So it is international by design.\u201d<\/b><\/p>\n<\/blockquote>\n

\u201cEU is almost a victim of its own success,\u201d Says Zodia Markets Co-founder<\/b><\/span><\/h2>\n

\u201cIf you come from an institutional background that we do, actually there\u2019s quite a lot of regulations that you can just draw from to run a business pretty well. You don\u2019t necessarily need to wait for the regulators to actually write a licensing framework. We\u2019re a UK-based company, still not regulated. Regulators haven\u2019t written the regulations yet.\u201d<\/p>\n

Talking about payments in the EU, he said it actually work pretty well. \u201cSEPA is good, Target 2 is good, instant payments is pretty good. Banks are okay.\u201d<\/p>\n

But, according to him the EU is a victim of its own success. \u201cTo illustrate,\u201d he said \u201cZodia Markets, our number one currency in terms of stablecoin volumes is the US dollar stablecoins. Number two is Turkish Lira. We do more volume in the one Turkish Lira stablecoin than we do in all the Euro stablecoins combined by a factor of 100. Because settling Turkish Lira is not that easy. Getting a Turkish Lira bank account offshore \u2013 it\u2019s not that easy. But you can hold Turkish Lira stablecoins pretty much anywhere you want to go.\u201d<\/p>\n

DISCOVER:\u00a0<\/span>20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n

Cash is \u201cSlow, Unpredictable and Expensive\u201d<\/h2>\n

Talking in favour of interoperability, he said that it is probably the more important thing in the near term. \u201cIf you run a crypto business like we do, the biggest problem you have running that is cash. It\u2019s slow, it\u2019s pretty unpredictable, it\u2019s definitely expensive. It doesn\u2019t work at weekends. It stops working in the evening. If we ran email the same way we run cross-border payments, you wouldn\u2019t be able to send an email after 5 pm. If I have Hotmail and the these guys have Gmail, I can\u2019t email them. And so on and so forth. We don\u2019t run email like that because that would be insane,\u201d he pointed out.<\/p>\n

\u201cIf you\u2019re able to take cash and different assets and put it onto the open internet, then that offers the opportunity of interoperability. One of the simplest use cases that we\u2019re seeing, because we work in wholesale markets rather than retail card payments or on the retail side, is cross-border trade. Now, if you\u2019re trying to just move a cargo container of something from A to B, that can\u2019t talk to the cash,\u201d he added.<\/p>\n

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\u201cAnd in terms of cross-border trade, it\u2019s not so much like finance where you\u2019re trying to bring financial infrastructure from the 19th, the 20th century into the 21st century. Trade, you\u2019re coming from the 17th century to the 21st century. The leap is absolutely dramatic.\u201d<\/strong><\/p>\n<\/blockquote>\n

Explore: 99Bitcoins Exclusive: OKX Launches In Germany, Poland As Company\u2019s Nordics General Manager Discusses MiCA Implications\u00a0<\/a><\/strong><\/p>\n

Use Cases of Stablecoins \u201cBoggles the Mind\u201d<\/h2>\n
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\u201cStablecoins are particularly useful for the 20% of situations that cause you 80% of the anxiety, pain, and grief.\u201d<\/p>\n

New episode of The New Money Podcast with Nick Philpott, Co-Founder & Head of Partnerships at @zodiamarkets<\/a> <\/p>\n

We unpacked:
\"\u25ab\"how stablecoins are transforming\u2026<\/p>\n

\u2014 Ferdinand Dabitz (@FerdiDabitz) June 19, 2025<\/a><\/p>\n<\/blockquote>\n