Fideum CEO discusses bridging traditional finance and DeFi in Europe

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Fideum CEO discusses bridging traditional finance and DeFi in Europe Fideum CEO discusses bridging traditional finance and DeFi in Europe Nate Whitehill · 3 hours ago

Drawing on EU law enforcement and Aave expertise, Fideum CEO Ana Plotnikova champions cohesive regulation and TradFi-DeFi integration.

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Updated: June 6, 2024 at 12:51 pm

Fideum CEO discusses bridging traditional finance and DeFi in Europe

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

In a recent episode of the SlateCast, hosted by Senior Editor Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill, Ana Plotnikova, CEO and co-founder of Fideum Group, shared her insights on the evolving landscape of digital finance in Europe.

With her background in European Union law enforcement and experience at Aave, Plotnikova brings a unique perspective to the intersection of traditional finance (TradFi) and DeFi.

Regulatory Clarity in the US and Europe Plotnikova expressed optimism about recent developments in the US, particularly the approval of an Ethereum ETF and the proposed FIT21 bill. She believes these changes could provide much-needed regulatory clarity:

“We don’t have the ideal regulation here in the European Union with MICA, but at least it’s something that you can start to build on top of going to a regulator saying, please, this clause doesn’t make sense. It harms innovation, but this one’s good.”

In Europe, the Markets in Crypto-Assets (MICA) regulation is setting guidelines, despite its imperfections. Plotnikova notes:

“We were very close in launching [HODL cards] in the UK, but then the UK changed some rules and regulations, so this one is still in progress.”

Bridging TradFi and DeFi

Drawing from her experience at Aave, Plotnikova sees enormous potential in blockchain technology for the masses. She believes that large TradFi players are ready to engage more with DeFi protocols:

“TradFi already embraced the tech. You know, even a few years ago, with permissioned blockchains and large transactions being executed there. The problem is not there, but we, see as an industry, and most of us are coming from the DeFi, we want to see them engaging more with the DeFi, with Aave, with Maker, with those protocols.”

Fideum’s User-Centric Products Fideum is developing products catering to retail and B2B clients. Their HODL cards, for instance, allow users to spend crypto seamlessly through Apple Pay and Google Pay. Plotnikova explains:

“We wanted something that works with Apple Pay and Google Pay, both virtual and physical, bringing it again one step closer to this neobanking experience. So actually, it will be seamless, you can spend it. Spend your crypto, you can spend your fiat, you can get your salary and spend it on these cards.”

Another key product is their own EVM (Ethereum Virtual Machine) and a regulated launchpad designed to help projects launch legitimately under MICA guidelines.

Improving User Experience in Web3

Plotnikova acknowledges the need for a better user experience in Web3. She agrees that many crypto apps should emulate the sleek interfaces of neobanks:

“We, millions of neobanking users can’t be wrong. As well as those companies that produce those very sleek and easy interfaces. Because our job is not to confuse users so they’ll spend more. Our job is to make sure this is my assets, this is my money, this is the value, this is how I transact.”

The Role of CBDCs and Privacy

On the topic of Central Bank Digital Currencies (CBDCs), Plotnikova sees benefits for the financial industry but raises concerns about privacy:

“For the financial world, they’re a very good thing. For the rest of the world, there are some debates. Because one of the things that money and crypto provides, again, is the privacy and control. And, in the recent decades, we gave a lot of control back to the governments.”

Women in Crypto

As a female leader in the space, Plotnikova believes the situation for women in crypto is improving:

“One good thing What I find that blockchain and tech provides overall is the social lift, because code doesn’t lie. If you do something and your code is good, this is it. It doesn’t matter. Your gender does not matter.”

She adds that targeting women, who represent 50% of the population, is not only fair but also smart business:

“It will be just silly not to target that audience as well.”

In conclusion, Anna Plotnikova and Fideum are at the forefront of integrating traditional and digital finance in Europe. By focusing on user experience, regulatory compliance, and inclusivity, they aim to bridge the gap between these two worlds, making crypto accessible to all.

🎙️New SlateCast: @FideumHQ CEO explains why lobbying is crucial to improving EU/US regulation

“A lot of lobbying is being done in the EU, and this is what we have to do… not in the US sense of the word…”

Guest: @anablockbank – CEO & Co-Founder of Fideum
Co-Hosts:… pic.twitter.com/glHeKwJnBb

— CryptoSlate (@CryptoSlate) May 28, 2024

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