Unchained
Unchained
Laura Shin
Crypto Firms, Fintechs and Banks Hope to Dominate Stablecoins. Who Will Win? - Ep. 888
50 minutes Posted Aug 15, 2025 at 1:00 pm.
Intro
Whether the world really needs stablecoin-specific blockchains
How Stripe’s Tempo chain could gain an edge in the payments game
Why Circle’s Arc might struggle to stand out
Who could emerge as the winner of the stablecoin payments race
What the broader stablecoin chain landscape looks like right now
Whether crypto companies have a real shot at disrupting traditional finance
Who could end up being the biggest winners
Why Ethereum may not be ready for the RWA moment
Who’s best positioned to capitalize on the next wave of blockchain-based payments
0:00
50:48
Download MP3
Show notes
Stablecoin-focused blockchains are popping up everywhere. Stripe, Circle, and more are betting they can dominate payments. But are these chains even needed? And will Ethereum ever be ready for real-world assets? 
Austin Campbell, NYU professor and founder of Zero Knowledge Consulting, joins Unchained to cut through the hype. From why “the market eventually eats you” to how consumers, not companies, could be the real winners, Campbell unpacks the competitive landscape and warns that the ultimate champion might be someone who isn’t even on the field today.
Thank you to our sponsors!
Walrus
Xapo Bank
Guest:
Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting
Links:
Unchained: 
Circle to Launch Layer 1 Blockchain ‘Arc’
Stripe Is Building Its Own Layer 1 Blockchain: Report
Fortune: Top crypto VC Matt Huang to lead Stripe blockchain Tempo as CEO, stay at Paradigm
Timestamps:
🎬
💸
🧪
🌐
🏆
🗺️
🏦
🙋‍
🧱
🔮
Learn more about your ad choices. Visit megaphone.fm/adchoices