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Michael Shaulov

CEO & Co-Founder, Fireblocks

Search every verified Michael Shaulov interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Michael Shaulov, CEO and co-founder of Fireblocks, has been active in media appearances around the Money20/20 Europe conference and other events, discussing the adoption of stablecoins and the company's new products. He stated that the passage of the GENIUS Act in the U.S. has driven significant adoption of stablecoins among fintechs, payment companies, and banks. Shaulov noted that Fireblocks has onboarded major remittance firms including Western Union, MoneyGram, and Ria Finance to use stablecoins in the last six months. He also announced the launch of Fireblocks Flow, a product designed to allow payment companies, merchants, and fintechs to accept and send stablecoins, which he compared to what Plaid did for traditional payments. Shaulov expressed the view that banks misunderstand stablecoins and that their business models will face pressure regardless of regulatory debates. He argued that users will accrue interest directly from their money held with financial institutions, whether through stablecoins or money market funds, eliminating friction. He also commented that Visa and Mastercard are currently benefiting tactically from stablecoin adoption through card issuance and settlement, but suggested that account-to-account stablecoin transfers could potentially disintermediate their networks in the future. Shaulov reported that stablecoins now account for 65% of the $3.5 trillion in volume on Fireblocks' platform, up from 40% two years ago, and that the company is working on more than 30 requests for proposals from tier-one and tier-two banks globally.

Recent appearances

Verified interview transcripts

Notable quotes

“I think that we kind of crossed the chasm in terms of fintech and payment companies adopting it. Pretty much every household name in the fintech or payments is already in the game. Talking about companies like MoneyGram, like Western Union, like Checkout, Stripe, etc. right? They all have meaningfully adopted stable coins. And what we now seeing is banks coming in into this asset class into this payment network. So, ”

“I think this year we actually seen quite a big push of stable coins going from fairly esoteric asset class and probably rare a few years back to something that is being adopted heavily by all the fintechs, all the payment companies, and now we also seeing banks and some of the largest cash game basically adopting it. Mostly, I would say for cross-border, but we also starting to see it for domestic usage.”

“The Genius Act was basically unleash this crazy adoption that we are seeing among the fintexs among the payment companies among the banks and now propagates actually like you know to corporate world and to users. In the last 6 months or so we onboarded all the big remitters Western Union, Moneygram, RIA finance, stops and all those guys are now using stable coins.”

“We actually acquired First Digital Assets which is kind of a goldilocks company in February 2022 with the view that payments will move into stable coins. No, 3 years early, but we could have we we we saw it already there, right? And we poured a lot of money like you know the order of uh 50 or 60 or $70 million, right, into into that that acquisition.”

“Vera opens a brand new 200 billion TAM for NVIDIA, a market we have never addressed before, and every major hyperscaler is partnering with us to get it deployed.”

“I think it would be very challenging to move a billion dollars of tokenized equities in one day right now. Um, probably impossible actually.”

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