Interview with Patrick Hansen, Senior Director, EU Strategy & Policy at Circle | EBC10

[Music] hi everyone thank you for joining us again at ec10 we are a day two um talking to the greatest and brightest Minds uh of the crypto industry I'm Anon Stein Co CEO at riblon FBR agency and I'm here now with Patrick Hansen uh senior director EU strategy and policy at cirle hi Hi l how are you good good thank you glad to be here I'd love to have you here how have you been enjoying the event so far so far uh it's great um it's been a couple of years actually that I wanted to join and I finally made it this year very good um so you have kind of like an interesting title with the strategy and policy do you want to just share with the audience a little bit about your role and what you're doing through V sure happy to so uh I'm Patrick I'm a circuits director for you strategy and policy meaning I really need our regulatory efforts and strategy here in the region and right now it's actually great timing because we just announced our EU launch being mik compliant and issuing both usdc our US dollar stable coin and EC our Euro denominated stable coin in a MAA compliant manner out of our now newly launched European regulated Ean institution very nice it's very exciting news indeed yeah yeah we we're very excited very proud yeah so you've been in the stable Point uh uh industry for quite some time um how how do you see it basically changing or being uh accepted by the industry as there's a differeny um moving forward so I honestly think that now with the new European laws entering into application throughout this year the sabp rots are already in place and later this year um the entire framework will be a clip applicable this is uh really building trust um and essentially bringing the entire grp to Industry into let's say a more professional light and also attracting more and more institutional investors so overall I'm quite excited it's very good um where do you see the next step uh in terms of stable Point adoption I think what we have seen so far in the last couple of months and years that more and more stable coin usage is independent from let's say more speculative trading use cases so we have seen for example stable coin in circulation decoupling from Pure trading activity so while let's say crypto trading volumes have rather decreased or stay Stayed stagnant over let's say the last year stable coin supply has has been growing um and I personally expect that Trend to accelerate um now with the new regulatory Clarity we see a new wage of Innovations of startups building apps in the space we see new in institutions entering the market and really building use cases around payments around uh Capital markets around treasury management that are tightly connected to um real world activity and so we're we're excited about that shift from purely crypto trading towards real world activity and utility just out of curiosity do you see any difference uh in terms of the acceptance of Regulation and the stable Point adoption uh preparing the US to Europe I think the the European Union is certainly a few years ahead as is always the case you is always proud to be the regulatory leader and to be first so there's certainly a time lag here but I think everyone expects the US to follow suit soon yeah uh yeah it will be interesting time for the us right now uh especially given their political environment uh so what impact uh do you think the decline in interest rate will have uh on crypto throughout times always hard to make predictions I mean in general probably um the easing of interest rate will lead to Greater investment activity greater money velocity compared to just saving money and assets and that traditionally has been favorable to broader crypto activity broader crypto markets and also stable coin growth um for example I think in the last easing cycle of the FED if we look back that has really led to a stable point in circulation growth from a few billion to over a 100 billion and so we anticipate that the up coming the future easing cycle will also have positive effects on broader crypto markets and stable Point activity that's cool um anything else you'd like to add uh for our viewers I'm looking forward to speaking later on on the main stage and yeah very excited to be here what is your panel going to be about as you may expect it's going to be about the your regulation so about the new rules um and um we're discussing you know what's happening around behind the scenes how companies are preparing to that what are still outstanding challenges uh and how the startups that are here um can be overcoming those and and become essentially regulated Financial actors looking forward sounds super interesting thank you so for joining us thanks