Ambre Soubiran, she is the CEO of Kaiko.
She joins us down here on the trading floor at the FinTech TV booth.
It is great to have you here.
Thanks for joining us.
Thank you for having me, CEO of KeICO, CEICO, a digital asset data company.
You provide analytics.
You provide pricing for the broader cryptocurrency space.
Given the liquidations that we've had, everyone thinks back to that infamous now October 10th event.
Does that underscore the importance for the transparent type of data that CEICO specializes in?
Yes, absolutely.
I think it raised a very important focus on the value of accurate data, timely data, uh, for cryptocurrency as a whole as an industry, but also now as all the institutions are looking at leveraging blockchain as an underlying infrastructure for doing all sorts of capital markets applications, it also puts the focus on what is the data infrastructure as kind of core market infrastructure that we have today.
On blockchain technologies, so it's both important for crypto, but also as we think about the bigger digital asset tokenization movements we're seeing right now in the industry.
What type of data was not part of the equation for would-be investors or institutions that now you feel CEICO can more uniquely address and provide?
So when it comes to crypto markets, data was provided on chain through Oracles.
What I think October 10th underpinned is the importance of timeliness and accuracy.
And I don't necessarily believe that all data needs to be decentralized in order to be, you know, provided on chain, and I think that is the part that the crypto industry is waking up to now when it comes to data that is brought on chain for non-crypto use cases, what we're seeing is the necessity to have kind of IP protected real-time market data streams enabling 24/7 traditional financial applications on the blockchain.
We've announced actually a pretty meaningful partnership last week with Bloomberg where we are.
Bringing traditional IP protected market data onto smart contract environments for applications such as Repo and all sorts of non-crypto applications leveraging smart contract technology, and I think that is extremely powerful.
I want to ask you about stablecoins because they now make up the vast majority of all tokenized assets.
Does that show the market is shifting from speculation to more active real world use?
How are you viewing the general stablecoin tokenization kind of then?
Diagram and overlap.
Yeah, so I fully, yes, I think it does show a focus on utility and real applications, right?
And stablecoins are used for payments, they're used for settlements, they're used for cross border transfer.
They're used also to just serve as yield bearing assets.
And so what we are seeing with the growth of stablecoin beyond just pure utility is, is like real life industrial applications, right?
This is not speculative.
This is a payment application.
So stablecoins for me is a proof.
That we are graduating from pure crypto use cases, which is, is wonderful.
I mean crypto is an incredible environment to test all sorts of financial applications using blockchains.
Stablecoins is now proving the utility of that and and scale that this can reach.
I think we're seeing something like $300 billion worth of stablecoins are now kind of on blockchains, and this is clearly, uh, you know, um, driving a lot of the institutional focus and interest, um, for the technology.
I wanna ask.
Take on perpetual futures.
We do so many interviews here on the show where the idea of perps trading comes up.
It's now driving so much of the general trading and price activity for the major crypto players, especially for Bitcoin.
What does that evolution tell you and what realities of perpetual trading do you think people should pay a little bit more attention to?
Yes, so yes, you're absolutely right.
I think just for Bitcoin, P is somewhat around 68% of the global traded daily volume for Bitcoin.
It is huge.
What We like about uh perps and what institutions like is it's very capital efficient it's relatively straightforward in terms of like the operational uh way of what that works.
What I love about this is the emergence of non crypto perps and the reason I love it is that we are taking a very efficient uh crypto native instruments PRPs and putting that on, um, or applying that instrument for traditional financial um assets so we've seen now.
Equity perps being launched.
We are seeing commodity pervs.
We're seeing all sorts of markets.
CICO is powering, uh, on chain, uh, non-crypto perpetual markets and hyperliquid.
All of these evolutions are really at the intersection of traditional asset classes, but crypto infrastructure, and I think it's fascinating to see how quickly institutions are looking into this now.
I mean, uh, NIE announced, uh, their own crypto perpetual swaps.
We work with CIO on continuous futures like this is happening at scale at an institutional level.
Ambre Soubiran is the CEO of KAIKO.
Please come back onto the broadcast anytime.
It was great to have you down here on the trading floor.
Thank you very much.
