The Good Tech Companies - VALR CMO Ben Caselin reveals how digital assets are reshaping finance in unexpected ways

Episode Date: August 13, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/valr-cmo-ben-caselin-reveals-how-digital-assets-are-reshaping-finance-in-unexpected-ways. Crypto's dual impact: cultural revolution in Hong Kong, financial empowerment in emerging markets. VALR bridges these worlds. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #blockchain, #dlt, #cryptocurrencies, #futurism, #bitcoin, #ethereum, #defi, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. In Hong Kong, the crypto revolution is as much about art and community as it is about finance. But in countries like El Salvador, South Africa, and beyond, cryptocurrency isn't just a novelty or an investment vehicle – it's a vital tool for financial empowerment. In these regions, we're witnessing a rapid shift towards financial participation through crypto, says Ben Caselin, CEO of VALR.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. VALRCMO Ben Caseland reveals how digital assets are reshaping finance in unexpected ways by Ashan Pandey. In Hong Kong, where towering skyscrapers kiss the clouds and neon lights paint the night sky, a different kind of revolution is brewing. It's a revolution of pixels and code, of digital art and decentralized finance. But halfway across the world, in the bustling streets of Johannesburg or the sun-baked plazas of San Salvador, the same technology is sparking a transformation of an entirely different flavor. This tale of two crypto worlds was the subject of a riveting keynote address by Ben Caseland,

chief marketing officer of VALR, at the recent Foresight 2024 Hong Kong conference. I couldn't help but feel like I was witnessing the unveiling of a secret map. One that charted the diverse and often surprising ways cryptocurrency is reshaping our global financial landscape. A digital tale of two cities. Imagine, if you will, two parallel universes of crypto adoption, Kasselinbegan, his voice carrying a hint of excitement. In one, we have the glitzy world of Hong Kong, where crypto is the new haute couture of finance. In the other, we have the vibrant emerging markets of Africa and Latin America, where crypto is more akin to a financial Swiss army knife.

This stark contrast formed the backbone of caseland's presentation as he definitely navigated the three dimensions of crypto transformation cultural financial and monetary where crypto meets culture in hong kong caseland explained the crypto revolution is as much about art and community as it is about finance walk down the streets of central and you're as likely to overhear conversations about the latest NFT drop as you are about stock prices," he quipped. Indeed, Hong Kong has embraced the cultural aspects of crypto with open arms. From NFT galleries popping up in Xiong Wan to Web3 meetups in Lan Kwai Fong, the city has become a playground for digital innovation. Even traditional financial institutions are getting in on the act,

with the recent launch of Bitcoin and Ethereum ETFs signaling a new era of crypto-finance fusion. Crypto is a financial lifeline but as we turn our gaze to countries like El Salvador, South Africa, and beyond, a different picture emerges. Here, cryptocurrency isn't just a novelty or an investment vehicle. It's a vital tool for financial empowerment. In these regions, we're witnessing a rapid shift towards financial participation through crypto, Caselin emphasized. Greater than, it's not about buying digital art or speculating on the next big token. It's greater than about sending money home to your family without exorbitant fees,

or protecting greater than your savings from runaway inflation. This financial transformation is perhaps most evident in the realm of remittances. According to World Bank data, remittances to low- and middle-income countries reached a staggering $589 billion in 2021. Crypto-powered solutions are increasingly capturing a slice of this pie, offering faster and cheaper alternatives to traditional money transfer services. Emerging markets, where Bitcoin is lifeline but perhaps the most intriguing, and potentially disruptive, aspect of crypto adoption in emerging markets is the possibility of monetary transformation. Caselin hinted at a future where some countries might begin to decouple from established fiat currencies, using cryptocurrencies as a means to assert financial sovereignty.

It's not just about Bitcoin becoming legal tender in El Salvador, he explained. Greater than, it's about the potential for entire economies to reimagine their relationship greater than with money. VALR. Bridging the crypto-divideas the presentation drew to a close, Caseland turned his attention to VALR's roleging the crypto DIVIDEAs the presentation drew to a close, Caseland turned his attention to VALR's role in this global crypto narrative. With over 1,000 corporate and institutional clients and nearly 700,000 individual traders, the Johannesburg-based exchange is positioning itself as a bridge between the two worlds of

adoption. Our mission is to provide the robust infrastructure needed to support local fintechs and accelerate the adoption of digital assets, Caseland stated. Greater than, whether it's a hedge fund in Hong Kong or a mobile money provider in Nairobi, greater than we're here to facilitate their participation in the crypto economy. The crypto revolution, it seems, is not a one-size-fits-all phenomenon. Instead, it's a chameleon-like force, adapting to the unique needs and challenges of different markets. And in this ever-evolving landscape, companies like VALR are not just observers, they're active participants, helping to shape the future of finance one transaction at a time.

The tale of two crypto worlds continues to unfold, and if Caseland's insights are anything to go by, the next chapter promises to be even more exciting than the last. Don't forget to like and share the story. Tip Vested Interest Disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R. Thank you for listening to this Hacker Noon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.