In this episode of Unchained, host Laura Shin interviews Itamar Lesuisse, CEO of Reddy (formerly Argent), and Mike Silagadze, CEO of EtherFi, about the emerging sector of crypto neobanks. They define crypto neobanks as self-custodial alternatives to traditional neobanks, offering services like saving, earning, spending, and borrowing with greater transparency and lower fees. The discussion covers the origins of crypto neobanks, the challenges and regulatory hurdles in offering crypto-backed credit cards, and the underlying DeFi mechanisms that power these services. They also discuss security measures, business models, and the potential for crypto neobanks to revolutionize the traditional finance industry by integrating various financial services into a single, efficient platform. The guests offer tips for consumers evaluating crypto neobanks and share their visions for the future of banking.
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