“Who wouldn’t be at the dead not to be excited by the way this is the time where the NFL really survives and thrives at twenty five billion dollar annual revenue.” – 00:39

Rick Horrow, CEO of Horrow Ventures, joins Remy Blaire to discuss the return of football and the current state of college sports. The segment kicks off with excitement as the NFL season begins, featuring a highly anticipated matchup between the Super Bowl champion Philadelphia Eagles and their division rival, the Dallas Cowboys. Remy prompts Rick about his enthusiasm for the NFL’s return, to which Rick responds with fervor, highlighting the league’s impressive $25 billion annual revenue and the financial stakes involved in franchise ownership.

The conversation then shifts to college football, where Remy notes the significant investments teams are making in their rosters due to Name, Image, and Likeness (NIL) deals. Rick elaborates on the evolving landscape of athlete compensation, mentioning that Ohio State, the number one ranked team, is reportedly investing $35 million in its roster. He explains how the financial dynamics have changed, with teams now expected to invest between $40 to $50 million as NIL deals mature, contrasting this with the past when payments were made discreetly.

As the discussion progresses, Remy brings up the U.S. Open, where Rick shares his recent experiences and observations. He humorously discusses the popular “honey deuces” cocktails that have become a staple at the event, noting their high price and the staggering number sold, which contributes significantly to the event’s economic impact. Rick mentions that the U.S. Open attracts around 800,000 attendees and generates over a billion dollars in economic activity, emphasizing its status as the largest spectator sport event in New York.

“Stablecoins are global, and so when you can pay anyone anywhere at any time, the costs go down significantly and the efficiencies increase.” – 01:57

Marc Boiron, CEO of Polygon Labs, joins Remy Blaire to discuss the future of payments innovation, focusing on stablecoins, tokenization, and the role of artificial intelligence in finance.

Mark explains the concept of stablecoins as “internet native money,” which allows for global transactions that are faster and more cost-effective than traditional payment systems like FedNow in the U.S. and CEPA in Europe. He points out that stablecoins eliminate many of the restrictions associated with localized payment systems, enabling users to transact anywhere in the world.

As the discussion progresses, Remy and Mark delve into the regulatory landscape surrounding stablecoins. Mark notes that the recent passage of the Genius Act has provided much-needed clarity for stablecoin issuers, transforming the perception of stablecoins from a regulatory burden to a lucrative opportunity for fintech companies. This shift is expected to lead to significant growth in U.S.-based stablecoins, contrasting with other regulatory regimes like MICA, which have been more restrictive.

Mark shares impressive statistics about the performance of stablecoins on the Polygon platform, revealing that there is currently around $3 billion in stablecoins and a monthly transaction volume exceeding $400 million. He emphasizes the diversity of stablecoins available on Polygon, including a newly launched yen-based stablecoin, which allows users to hold and transact in various currencies beyond the U.S. dollar.

The conversation also touches on the economics of currency-backed stablecoins, with Mark explaining that they are typically backed by debt instruments, allowing issuers to generate revenue while providing users with a globally accessible form of currency. Remy and Mark discuss the importance of yield generation in the fintech space, with Mark highlighting Polygon’s focus on payments and its collaboration with other networks, such as Katana, to offer yield-bearing assets. 

“It’s important that instruments be surfaced that allow folks to ride the upside of stablecoins in a responsible as well as thoughtful way.” – 03:37

Haonan Li, CEO & Founder of Codex, joins Remy Blaire at the New York Stock Exchange to discuss the Genius Act, which marks a significant advancement in the financial landscape by ensuring that stablecoins are fully backed by banks, allowing for one-to-one redemption for US dollars. This legislative change is projected to introduce up to $1.75 trillion in new digital dollars into circulation over the next few years, potentially reshaping the global economy and international trade.

Haonan emphasizes that the regulatory developments in the U.S. serve as a credentializing moment for stablecoins, acting as a catalyst for growth not only in the U.S. but also in regions like Southeast Asia. He notes that other countries, including China, are looking to the Genius Act as a model for their own regulations, highlighting a shift in global financial leadership towards the United States.

The discussion shifts to the recent public listing of Circle at the New York Stock Exchange, where there has been a surge of interest from financial institutions and retailers in launching their own stablecoins. Haonan suggests that while the market is currently bustling with activity, the long-term outlook indicates a consolidation into a few stablecoin chains rather than a proliferation of many. This consolidation could provide significant economic advantages for companies that adopt stablecoins.

Remy and Haonan also explore the investment landscape surrounding stablecoins, with Haonan noting a strong demand for stablecoin exposure, particularly in private markets dominated by venture capitalists and sophisticated investors. He stresses the importance of developing instruments that allow a wider audience to engage with stablecoins in a responsible manner.