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81. Can Stable Coin actually be Stable? With Jeff Ye Myat Min and Sherry Jiang

81. Can Stable Coin actually be Stable? With Jeff Ye Myat Min and Sherry Jiang

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Key takeaways

1) Cryptocurrencies like Stablecoin could be stable if they are done in the right way. It is entirely possible through proper market dynamics, pure accounting principles, and ways to rebalance them.

2) In markets like Southeast Asia, access is not access to privilege as it is tough to get into global financial services due to tight capital controls. One of the few ways you can get access to the global financial system is through cryptocurrencies.

On this week’s episode of WealthTech Unwrapped, Ned speaks with Jeff Jeff Ye Myat Min and Sherry Jiang of Bluejay Finance. Tune in as they discuss Stablecoins, Defi Blockchain, and what it takes to be a cryptocurrency start-up.

When it comes to cryptocurrencies, Jeff and Sherry believe that currencies like Stablecoin have the potential to be stable if they follow proper accounting principles and rebalancing. However, it is sometimes hard to understand what the end goal of cryptocurrency is and this in turn makes it difficult to create proper regulations around them.

Unfortunately, centralized players within crypto have been doing unsavory things which further highlights the need for regulation, however, due to such behaviors, the innovative aspects and potential behind Crypto have also been lost. This could also be due to the United States’ view of cryptocurrencies as there isn’t a promise of economic opportunity and it doesn’t solve underbanked challenges, unlike in Asia where cryptocurrencies are more enticing


Meet Our Guest Speaker

Jeff Ye Myat Min and Sherry Jiang

Bluejay Finance

Jeff Ye Myat Min is the Chief Operating Officer of Bluejay Finance. As an experienced entrepreneur, Jeff is passionate about building products and launching new businesses. He has Led cross-functional teams and ran company operations with over 100+ headcount. Sherry Jiang is the Co-Founder & CEO of Bluejay Finance, a protocol that creates stablecoins pegged to Asian currencies. By providing local currency stablecoins, Bluejay is laying the infrastructure to support the next billion users to use Web3 products. Sherry has always had a penchant for creating products for consumers in developing nations. She established the social impact business Code for Community to offer technical support to nonprofit groups. She joined Google Pay and introduced payment innovations to India because she was fascinated by how technology is enabling financial access for people in ways that financial institutions cannot. Today, she is building Bluejay right now to give Southeast Asians an easy method to use Web3.

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