Off-Ramp your Crypto in Seconds (with Pendulum)

Today, we discuss how the current international payment
system is broken. We have Alexander Wilke,
co-founder of Pendulum on the show, a project on a mission to
bring fiat currencies on-chain and to bridge fiat with the DeFi
ecosystem.


We chat about the high fees and complexity involved in sending
money from one country to another through traditional banks. The
process often involves numerous intermediaries, each adding to
the cost and time required for transactions. This is especially
rough in emerging markets, where money can get "stuck" due to
inefficiencies in the looong chain of financial intermediaries.


We also explore how disruptors like Wise operate within the
traditional financial system to reduce these issues. 


However, then we shift our focus to the potential of blockchain
and cryptocurrencies, particularly stablecoins, to provide a
cheaper, faster, and more secure alternative. Alex explains how
Pendulum is bridging the gap between the traditional financial
system and blockchain. 


For example: You could send Brazilian Real from your bank
account, it gets (1) converted to a Brazilian Real stablecoin,
(2) swapped to a USD stablecoin, and (3) you receive USD (as
fiat) in the destination bank account. Pendulum leverages the
Stellar Network and Polkadot to make this possible. They are also
focusing on seamless off-ramping of crypto to fiat in seconds,
which of course is handy if you are used to the typical
off-ramping through centralized exchanges which is not really
seamless...


How do you send money internationally? Are you open to solutions
being built on blockchain? Drop a comment!


Please share this if you learned something! What should
we discuss next? Comment! 


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Timestamps:


00:00 - Blockchain = Crime & Drugs?


03:20 - International Payments Are Broken


08:30 - Money gets stuck


10:10 - Blockchains enable “Triple-Entry Accounting”


12:50 - Disruption: Wise


21:20 - Bank issues Stablecoin


26:35 - EU loooves to regulate


35:35 - Off-Ramp Crypto in Seconds 


40:55 - Pendulum: Step by Step


47:55 - What can users do with Pendulum today?


50:15 - Liquidity 


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Links / Additional Material:


Pendulum Website: https://pendulumchain.org/


Pendulum on X: https://x.com/pendulum_chain


Alex on X: https://x.com/pendulumalex


Docs: https://pendulum.gitbook.io/pendulum-docs


Spacewalk bridge:
https://portal.pendulumchain.org/pendulum/spacewalk/bridge


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Disclaimer:


TEACHMEDEFI is a provider of entertainment and opinions. We are
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None of our content constitutes a recommendation – or should be
understood as such – to conduct transactions in securities,
cryptocurrencies, or crypto-assets, or to engage in any of the
investment strategies presented in our discussions or provided
content. We do not provide personalized recommendations or views
on whether a stock, cryptocurrency, crypto-asset, or investment
approach is suitable for the financial needs of a particular
individual.