Sebastian Burkhard, Yodl: Onchain Payment Rails for a Stable(coin) World

okay next up we have Sebastian the Yodo Master the Yodo Meister himself the founder of Yodo and he'll be talking about onchain payment rails for a stable coin [Applause] world yeah thanks for the introduction uh I'm again founder of yodel uh previously have been in the payment industry for 10 years I've built a new kind of payment rails and a mobile payment app that you can now use to pay at 90 million Merchants worldwide uh we are now building a new kind of payment rails based entirely on crypto and stable coins we believe that stable coins are becoming the new Banks there will be lots of stable coins for each currency for each country perfectly adapted for their specific Market markets and what we trying to build is the Visa Mastercard or the payment rails for this new economy where people pay in Stables worldwide if you look at credit card payments they're entirely seamless you're tapping and pay emerchant and you do not have to worry about what currency they're using or what pre processor they're using what banks the money arrives you simply pay and everything happens seamlessly in the back end now that's exactly what you're trying to replic at for crypto so that you can pay uh click confir a scanner QR code pay tap and whatever pay and get on with your life you do not have to worry about what stable coins is being used what chains they're on and what bres or swaps you have to do to bridge between these payments uh so we completely abstracting away the dollars from their underlying stable coins and chains you simply see and pay dollars now the way it works is if Bob wants to pay Alice Alice first has set up her payment preferences and she prefers to keep all her money in usdc she wants all her payments to arrive in this in the usdc on any L2 that is cheap and supported by yel now Bob he has a lot of tokens not necessarily what Alice wants but on different chains and different tokens like clo doar tether and so on but Bob doesn't have to worry about that he simply scans Alice's QR code clicks her payment link opens it up and enters the amount clicks and pay yodel finds the best route for that payment from Bob to Ellis based on the balances of Bob and the preferences of Alice we automatically swap on one of the popular um dexes like curve Unis Swap and so on or if they don't have the same chain we seemless Bridge with one of those intent based Bridges like a cross for Bob it doesn't matter he simply clicks pay confirms and get on with his life we pretty much handle the rest so Alice who the is Alice Alice can be anybody she can have a wallet and prefer to be unbanked and receive all her money in a regular wallet she can be a Treasurer and manage uh multi of a or she could be an addicted Gambler who wants to Simply top up her poly Market wallet or top up her grab or she's one of the 300 million users of PayPal VMO revolute and newbank they allow their users to deposit crypto in the form of stables already directly into their banking app now with these Banks PayPal they all have their own little settings some of them they only want PayPal USD others only accept usdc some only on salana the others only on mainnet but for Bob who wants to send money to Alice he doesn't have to care about that he simply opens the links pays and Y make sure the money arrives in the right token on the right chain in Alisa's preferred uh receiving address Alice could also be a merchant who integrates y pay directly into the checkout solution of her web shop she does not have to sign up or k C or KYB she Simply configures Her ens name with the correct settings on the money uh and the tokens that she wants to receive once Bob clicks on the payment link on the checkout page he gets to the same flow that he's used to payer directly it simply again pays and it arrives and it's being directed back into the web shop now this checkout flow can also be implemented directly by payment processor and Ellie simply clicks uh accept yodel through accept crypto yodel that's pretty much it we are launching our beta on Wednesday at our side event to Y house uh starts at 4: until 8 it's close to the uh main conference 2 minutes from the subway uh you can come over check it out uh check out all the payment flows that we have uh and that's it so we've got two minutes for question questions if there's no questions the regular question is always what about regulations and that's uh the beauty of the entire thing because the way we structured we completely non-custodial decentralized permissionless uh money is being sent directly from Senter to the receiver there is no custodian and typically in the payment industry it's always the financial institutions that custody the money of their people or of the receiver that are regulated 99% of the regulations apply to these financial institutions and in our case we're completely outside we're also completely off the traditional payment uh Fiat rails so we are not regulated accordingly we're simply a technology [Applause]