Making Crypto Feel Invisible I Itai Turbahn (Dynamic) and Alim Khamisa (Optimism) at ETHConf

Sun, Aug 2, 2026, 12:00 AM

In this fireside chat, Alim Khamisa from Optimism sits down with Itai Turbahn, co-founder of Dynamic, to discuss how embedded wallets are making crypto invisible inside mainstream apps. Itai explains that Dynamic, started in late 2021 and acquired by Fireblocks in late 2025, builds embedded wallets on the premise that every app on your phone will eventually have a crypto wallet. He traces the shift from Dynamic's early cryptonative customers to a client base now dominated by fintechs and financial institutions, noting the acquisition by Fireblocks (which processes around $6 trillion yearly and 10 to 15% of all stablecoin volume) accelerates work with the Western Unions, MoneyGrams, and Visas of the world. The conversation centers on how crypto has moved from front and center to background infrastructure, since building a global neobank in a weekend now essentially requires crypto rails. Itai highlights two standout use cases: the trade everything theme, where companies like eToro, Robinhood, and Bitvavo add stocks, prediction markets, yield, and RWAs through invisible non-custodial embedded wallets, and the payroll and remittance use case with partners like Western Union and Papaya Global, where a payment to Argentina that once took days and lost money to conversion now settles in a second for a cent, stays dollar denominated, and can earn yield. Alim offers Optimism's perspective that earn products are the recurring enterprise request, stressing the importance of reputable curators, blue chip protocols like Morpho, and hardened security through formal verification, fuzz testing, monitoring, and bug bounties. Itai details Dynamic's MPC based security (no single private key, only shares that work together), noting Fireblocks is fundamentally a security company and roughly 80% of internal time goes to security while preserving self sovereign key export. They close on privacy as a non-negotiable requirement once financial institutions realize on-chain data is public, citing privacy chains like Canton and privacy pools, and Itai's view that wallets embedded in every financial app at global scale is the roadmap ahead. 00:00 Introduction 00:30 Introducing Dynamic and Embedded Wallets 01:18 Acquired by Fireblocks in 2025 01:36 The Next Frontier: Making Crypto Invisible 02:42 Why Wallet Infrastructure Is Maturing 03:02 Dynamic From Inception to the Fireblocks Acquisition 03:27 Starting in Crypto Summer 2021 04:00 Why Developers Needed Abstraction Tools 04:28 From One Fintech Goal to a Fintech Majority 04:57 Every App Will Have a Wallet in Five Years 05:44 How Fireblocks Accelerates Dynamic 06:38 Embedded Finance as a Key Theme 07:04 Everyone Becoming a Neobank 07:31 Stablecoins and Product Market Fit 08:12 Crypto Moving Into the Background 08:39 The Trade Everything Use Case 09:29 A Single Financial Hub on Your Phone 09:44 Bitvavo and Invisible Embedded Wallets 10:01 The Payroll and Remittance Use Case 10:43 Solving High Inflation and Slow Payments 11:22 Dollar Denominated Accounts That Earn Yield 12:12 Why Keeping Money In-Ecosystem Matters 12:40 Optimism's Perspective on Earn Products 13:07 The DeFi Mullet and Yield Infrastructure 13:47 Why Security Is Becoming Critical 14:43 Formal Verification, Fuzz Testing, and Bug Bounties 15:33 Security Inside Dynamic's MPC Wallet 16:00 Shout Out to Morpho's Raise 16:19 Why Fireblocks Is a Security Company 16:53 How MPC Cryptography Works 17:12 Self Sovereign Key Export at Scale 17:41 What Financial Institutions Require 18:01 Compliance, Audit Trails, and Risk Controls 18:25 When Institutions Realize On-Chain Is Public 19:25 Why Privacy Becomes Non-Negotiable 19:55 Privacy Chains and Privacy Pools 20:14 Why Privacy Will Be a Default 20:34 What Is Top of Mind on the Roadmap 21:09 Every App Becoming a Financial Application 21:41 Building a Global Neobank in a Weekend 21:59 Closing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ *ETHConf 2026* ETHConf is a 3 day event for founders, industry leaders, and builders who are excited about the possibilities of building on top of Ethereum. Connect with 2,000+ top innovators in crypto, finance, technology, and policy at our inaugural three-day event packed with showcases, demos, partnerships, and conversations shaping the future of the global economy. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ *Follow ETHConf* X: https://x.com/ethconf Website: https://ethconf.com _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🎟️ Get your early bird tickets for ETHConf 2027: https://ethconf.com/2027#tickets 🎤 View the full ETHConf 2026 Speaker Schedule: https://ethconf.com/schedule _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _