Wendy Fu - Why Crypto and Wall Street Are Finally Merging
1. Building a Universal Trading Platform
Wendy stated that Momentum aims to create a universal trading platform that enables users to trade a variety of assets seamlessly. Unlike existing platforms that focus on either crypto or traditional stock trading, Momentum is designed to blur these lines, serving both retail and institutional traders. Wendy emphasized that the goal is to create a decentralized, global trading environment, which means users from all over the world can participate without being restricted by the ownership of a centralized entity.
2. The Necessity of the Move Language
Wendy explained the rationale behind the development of the Move programming language within the crypto space. She articulated that previous programming languages treated assets merely as numbers, leading to potential misuse or loss of tokens. Conversely, Move positions tokens as first-class citizens, mandating that they can only be transferred or destroyed, thus enhancing security and control in financial transactions. This structural integrity is vital as we transition towards an on-chain future, enabling more secure financial ecosystems.
3. Current Traction and User Base
Wendy shared impressive metrics demonstrating the momentum of their platform, stating they launched Momentum just six months ago and have already amassed over 2.1 million users with a trading volume that recently surpassed $1.1 billion. She highlighted that the platform has achieved over $500 million in liquidity, indicating strong market interest and engagement. These numbers not only reflect the platform's adoption but also reinforce the community's commitment to the vision of a decentralized trading landscape.
4. Bridging Gaps Between Crypto and Traditional Finance
Wendy articulated a clear vision of bringing crypto and mainstream finance together, underscoring the necessity for a single platform that accommodates all trading types. She identified the challenges posed by existing platforms that are highly segmented and focused on specific asset classes. By offering a unified trading solution, Momentum aims to address these fragmentation issues, allowing for increased liquidity and flexibility for traders, thus promoting broader accessibility for all asset types.
5. The Importance of Compliance for Institutional Adoption
Wendy highlighted a key barrier to institutional adoption in the crypto space: compliance. She explained that for institutions to fully engage with decentralized platforms like Momentum, there must be robust compliance features built-in. Wendy introduced their “Momentum X” product, suggesting that KYC compliance would be streamlined enough to allow users one-time verification while still maintaining security and privacy, paving the way for broader institutional involvement on the platform.
6. Tailored Approaches for Different Markets
Wendy emphasized the need for a targeted approach in crypto. Even though crypto is global, different regions may display distinct trading preferences and behaviors. By understanding the unique demands of diverse markets, Momentum aims to adapt their offerings to ensure traders worldwide can easily access the assets they want to trade, thus enhancing user experience while keeping the focus on what matters most—facilitating trades.
