Podcast Summary: "We Are Sitting On A Multi-Billion Dollar Opportunity | Caitlin Long"

Podcast Information:

• Title: The Wolf Of All Streets
• Host: Scott Melker
• Guest: Caitlin Long, Founder and CEO of Custodia Bank
• Release Date: June 28, 2025

Introduction: Caitlin Long and Her Advocacy for Crypto

In this episode of "The Wolf Of All Streets," host Scott Melker engages in a profound conversation with Caitlin Long, the founder and CEO of Custodia Bank. Caitlin is recognized as one of the most audacious voices in the Bitcoin and crypto space, known for her relentless advocacy and groundbreaking initiatives within the industry.

Notable Quote:

Caitlin Long [00:00]: "We fired Gary Gensler and we're going to fire all the people just like him. And I thought great, you know, why is it taking so long, right?"

Operation Choke Point 2.0 and Regulatory Obstacles

Caitlin opens the discussion by addressing the current state of Operation Choke Point 2.0, a regulatory initiative she believes is still actively hindering the crypto industry. Contrary to recent statements by JD Vance, Caitlin asserts that the operation is far from being "dead," highlighting ongoing challenges posed by entrenched regulatory figures.

Notable Quote:

Caitlin Long [00:00]: "It's not dead yet, unfortunately. What, if anything, can be done to move those folks out of positions of power."

Scott brings attention to a previous conversation where Caitlin impressed his guest Tillman by demonstrating a stablecoin or tokenized bank deposit, showcasing a multi-billion dollar opportunity within the crypto banking sector.

Custodia Bank and Vantage Bank Partnership

A significant portion of the discussion centers around the strategic partnership between Custodia Bank and Vantage Bank. This collaboration leverages Vantage's Fed Master Account, FedWire, and ACH access, combined with Custodia's capability to issue a stablecoin—a feat Vantage couldn't achieve alone due to existing Fed restrictions.

Notable Quote:

Caitlin Long [02:13]: "Custodia and Vantage can each do the thing that the other can't do. So we partnered to go ahead and just go now; we don't need to wait for the stablecoin bill."

Tokenized Bank Deposits: A Game-Changing Innovation

Caitlin elaborates on their pioneering work in creating tokenized bank deposits, distinct from traditional stablecoins. These deposits facilitate cross-border transactions with unprecedented speed and minimal costs. A prime example discussed is the partnership with DX Express, a Mexican trucking company, which utilizes tokenized deposits to streamline payments to drivers, reducing transaction times from days to mere seconds at negligible costs.

Notable Quotes:

Caitlin Long [02:05]: "The first cross-border issuance of a tokenized bank deposit was used by a Mexican trucking company to move US Dollars across the border into Mexico and back."

Caitlin Long [03:24]: "The CEO of DX Express wants to be able to pay his drivers within an hour."

Interoperability and the Vision of a Mesh Network

A core theme of the conversation is the emphasis on interoperability and building a mesh network of financial systems. Caitlin envisions a seamless integration where Custodia's tokenized deposits can interact with various stablecoins and financial platforms, enhancing flexibility and user options.

Notable Quote:

Caitlin Long [04:00]: "We are trying to create a network of networks, a mesh network. This multiplies the network exponentially and provides different options for users."

Disrupting Traditional Banking and Embracing Innovation

Caitlin critiques the traditional banking sector's resistance to adopting new technologies, pointing out the inefficiencies of "walled gardens" maintained by major banks. She argues that Custodia and Vantage's collaborative approach fosters maximum interoperability, contrasting with other banks that develop proprietary systems like JPM Coin or Citicoin.

Notable Quote:

Caitlin Long [06:17]: "Our technology is so much better and our network effects are so much greater."

Navigating the Regulatory Landscape and the Fed's Stance

A significant portion of the dialogue tackles the complex regulatory environment. Caitlin discusses ongoing litigation with the Federal Reserve and anticipates a crucial court decision. She expresses concerns over the entrenched regulatory mindset within federal banking agencies, highlighting the challenges in effecting systemic change.

Notable Quotes:

Caitlin Long [11:26]: "The Fed has not changed its anti-crypto stance or regulations."

Caitlin Long [12:27]: "What, if anything, can be done to move those folks out of positions of power?"

Future Outlook: Custodia's Path Forward

Concluding the conversation, Caitlin shares Custodia's future plans, which include expanding their technology's reach to more community banks and continuing litigation to secure necessary regulatory approvals. She underscores the importance of integrating with community banks to support small businesses and rural economies.

Notable Quotes:

Caitlin Long [17:16]: "We are trying to bring this technology to other banks."

Caitlin Long [19:35]: "The community banks are the ones I think that are going to win in the marketplace."

Closing Remarks

Scott wraps up the episode by expressing enthusiasm for Custodia's innovative approaches and Caitlin's unwavering commitment to advancing the crypto banking sector. The conversation encapsulates the potential and challenges of integrating blockchain technology within traditional financial systems, highlighting Caitlin Long's pivotal role in this transformative journey.

Notable Quote:

Scott Melker [19:38]: "I can't wait to see it. Thank you so much."

Conclusion:

This episode of "The Wolf Of All Streets" offers an in-depth exploration of Caitlin Long's efforts to revolutionize the banking industry through blockchain technology. Her collaboration with Vantage Bank, the development of tokenized bank deposits, and her staunch advocacy against restrictive regulations paint a compelling picture of the future of finance. Listeners gain valuable insights into the intersection of traditional banking and emerging crypto solutions, underscored by Caitlin's vision of a more interoperable and efficient financial ecosystem.