Thought Leaders in Financial Technology: My Digital Money CEO Guy Gotslak (Part 3)

Sramana Mitra: How many crypto traders are on the system?

Guy Gotslak: We’re in the thousands so far. Each individual contributes a good amount because the average IRA that comes in is $25,000 to $50,000. We’re already in the thousands of users and growing.

Sramana Mitra: What is your business model?

Guy Gotslak: We take a transaction fee. We’re looking to expand our products into other assets as well.

Sramana Mitra: You’re already above $5 million in transaction fees?

Guy Gotslak: $5 million in transaction volume a month.

Sramana Mitra: Above $5 million in revenue. What is the trading volume?

Guy Gotslak: Above $5 million but higher than that when the market was better.

Sramana Mitra: Talk about the market. How do you read the market? It’s absolutely devastating for crypto.

Guy Gotslak: We’re in a bear market right now. We still believe in crypto, in general, decentralization and that whole movement of owning your assets and taking away the middle man. I know that it’s going up over time. I think that it’s still an opportunity in the long term. Half of Americans say that it’ll take a miracle for them to be able to retire. They don’t have sufficient retirement.

Our main goal is to provide another way to diversify your retirement account. Over time, all I see is a buying opportunity. I own coins that I bought close to the all-time high. I’m not worried. This is money that I’m willing to sit on.

Sramana Mitra: How many actual traders are actually transacting on the system?

Guy Gotslak: Around 10,000.

Sramana Mitra: In the recent volatility of the market with crypto getting massacred in the market. You’re at $5 million monthly trades. What is the current situation of the trading volume based on this market?

Guy Gotslak: It’s much lower than what it was before.

Sramana Mitra: It’s going down.

Guy Gotslak: It has stabilized now. It went down. The past two months have been moving sideways. It hasn’t decreased anymore. It did decrease a lot from December until now.

Sramana Mitra: So 10,000 traders at $25,000 to $50,000 capital under management. That was the nature of the business roughly speaking before the massacre started.

Guy Gotslak: Yes.

Sramana Mitra: From a trend point of view, how is your community interpreting this massacre?

Guy Gotslak: It’s hard for me to speak for all the market. At least, the customers I’ve spoken to see it as temporary. I know this because a lot of them had bought more at this time. They still believe it’s going to go up long-term. This is not just crypto. This is happening with stocks. A lot of it is because interest rates are rising. There are a lot of market factors that play into it. It’s affecting everyone across the board.

Sramana Mitra: What else do you want to share?

Guy Gotslak: Something that we talk about a lot with our customers is the tokenization of assets. Our clients really believe in crypto partly because of the actual utility and the use cases that Blockchain, in general, can implement.

What’s exciting is being able to fractionalize different assets. Essentially, it’s called tokenization of assets. You can tokenize real estate. You can tokenize vehicles. You can tokenize anything that you can invest in. We’re ways away from being able to do this in scale because there’s a lot of regulation and a lot of logistical aspects that have to be figured out to make it safe to do this. I think that we’re headed there.

This segment is part 3 in the series : Thought Leaders in Financial Technology: My Digital Money CEO Guy Gotslak
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