212: Beyond USDT: Eneko from Stabolut on Launching a Fully Crypto-Backed Stablecoin

In this episode of Web3 with Sam Kamani, I interview Eneko, co-founder of Stabolut, live from the Emergence Conference in Prague. Stabolut is pioneering the next generation of stablecoins, launching USB, a fully decentralized, crypto-backed stablecoin that eliminates reliance on traditional financial systems. We discuss: The Problem with Traditional Stablecoins: Why reliance on banks and treasuries undermines decentralization. How USB Works: A crypto-backed, delta-neutral strategy that ensures USD stability. Future Roadmap: Plans to launch in Q1 2025, expand into new currencies, and develop a complete money transfer ecosystem. Challenges and Trends: The impact of institutional adoption and the growing scrutiny of stablecoins by governments. Eneko also shares his entrepreneurial journey, from early Bitcoin meetups to building a crypto-native financial system. If you’re interested in the evolution of stablecoins and decentralized finance, this episode is a must-listen. Key Timestamps [00:00:00] Introduction: Sam introduces Eneko and the topic of stablecoins, recorded live at the Emergence Conference in Prague. [00:01:00] Eneko’s Background: From web hosting to mobile gaming to crypto entrepreneurship. Early exposure to Bitcoin in 2011 and its transformative impact. [00:02:00] What is Stabolut? Why the world needs an alternative to bank-dependent stablecoins like USDT and USDC. Introduction to USB, a stablecoin backed entirely by crypto assets. [00:04:00] How USB Works: Explaining the delta-neutral strategy that keeps USB pegged to the US dollar. Why USB remains stable regardless of crypto price volatility. [00:07:00] Challenges in Building USB: Overcoming skepticism about a new stablecoin model. Competing with well-established stablecoins in a global market. [00:09:00] Roadmap and Vision: Launching USB in Q1 2025. Building a money transfer ecosystem with mobile apps for emerging markets. Expanding into other currencies like EUR. [00:13:00] Global Trends in Stablecoins: The role of stablecoins in countries with hyperinflation. Potential regulatory challenges as stablecoins grow in adoption. [00:16:00] Institutional Adoption: How validation from players like BlackRock is transforming crypto. Predictions for institutional investments in 2025. [00:19:00] Call to Action: Stabolut’s focus on hiring top talent and raising funds to support its growth. Building partnerships to scale and promote USB globally. Connect https://stabolut.com/ https://www.linkedin.com/company/stabolut/ https://x.com/stabolut https://www.linkedin.com/in/enekoknorr/ https://x.com/enekoknorr/ Disclaimer Nothing mentioned in this podcast is investment advice and please do your own research. Finally, it would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend. Be a guest on the podcast or contact us - https://www.web3pod.xyz/