Today CEO and CIO Cathie Wood and Angie Dalton engage Caitlin Long, the CEO and Founder of the privately owned Custodia Bank, in an insightful conversation about her work and her particular take on the possibilities of crypto technologies in the current climate. Caitlin’s approach is one we do not hear about so often, and we get to explore how Custodia Bank is hoping to harness the powers of new technology and at the same time focus on proper regulation adherence and improving the dominant banking systems. We talk about the work that Caitlin is doing as a stepping stone and how we might get through this transitional period of integration, and Cathie and Angie get to ask our guest a number of very probing questions on what a truly modern payment ecosystem would look like. For Caitlin, it is a no-brainer to utilize this powerful, open, and cost effective technology to upgrade banking services.
Key Points From This Episode:
- The significance of Wyoming to Caitlin’s work and the inspiration drawn from South Dakota.
- Caitlin paints a picture of the regulatory backdrop for her efforts to start a bank.
- Creating a bank in new infrastructure while integrating digital assets into the traditional banking system.
- Why access to the Federal Bank is necessary for this project.
- The likely impact of ‘open banking’ on the status quo and the incumbent powers.
- Exploring the idea of rehypothecation and Caitlin’s approach to lending and leverage.
- Recent lessons in transparency for policymakers.
- A little about Custodia Bank, its bank charter, and the problems they are aiming to solve.
- Adjusting the narrative around crypto and non-compliance with regulation.
- Comparing crypto with card networks and how the infrastructure might be replicated.
- Caitlin explans how Custodia Bank compares with Silvergate and Circle.
- Caitlin’s feelings about moving back to Wyoming!
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