Gleb Levi Raskin

Entrepreneur. CMO/CPO. Growth for Web3, Fintech. Tokenization. Built and sold Web3 product agency. DeFi + RWA protocol with low-risk and AI strategies

[Gleb Levi Raskin @GlebRaskin]

@katekimmyy Check DM @katekimmyy

[Criptolawyer @criptolawyer]

most neobanks will not survive the next 18 months.

not because demand disappears. $245M in top-ups in a single week proves demand is the least of your problems, they will die because of what they built underneath:

i review compliance infrastructure for a living since 2017. here is the full map of what actually holds this market together, layer by layer, and who is powering each one right now

cards

your card program is a three-party compliance relationship: you, your issuer, and the network. the network's enhanced due diligence sits on top of your issuer's requirements. if either loses confidence in your stack, the card stops. not slowly. overnight

@binance lost Visa in Europe July 2023. lost @Mastercard in latam two months later. gone by December. @ready_co gave non-EEA users one hour's notice in June 2026 when their issuer relationship broke. one hour

what the network actually wants to see: account-level OFAC and sanctions screening, not batch, not periodic, continuous. a transaction monitoring system that produces real alerts. a KYC layer defensible across every jurisdiction you operate in. one audit trail running through every product the customer touches

Starlingbank had a system that produced zero individual sanctions alerts for six months. £29M fine. that is the floor

the infrastructure powering this layer right now: @raincards (Visa and Mastercard principal member, BIN sponsor for 200+ programs, one API for issuance, compliance, FX and onchain settlement), @pomelo_latam ($160M raised, powers bbva , santander , @Bancolombia , @WesternUnion , Binance across latam, just launched global stablecoin card across 150+ countries), @marqeta ($383B processing volume in 2025), @lithic, @GalileoFintech, @unit_co_, @treasuryprime, @Adyen, @Stablecoin @eldoradoio @Uglycash

the compliance layer that makes the issuer relationship survivable is what @blend_money is built around: screening, audit trails, per-jurisdiction reporting, the infrastructure that keeps the card program intact at scale

on and off ramps

every ramp is a compliance event before it's a UX event

on-ramp: you are opening a new account. source of funds, identity verification, risk scoring before a single dollar moves

off-ramp: withdrawal with a clean audit trail, documented source of funds, per-jurisdiction reporting. this is where most teams underinvest because users don't see it. regulators do

best practice: per-account screening on every transaction, not customer-level screening on signup and never again. your banking partner will pull a sample during their quarterly review. if the trail isn't clean per transaction, you find out at the worst moment

the infrastructure powering ramps right now: @moonpay (eliminated fees on stablecoin onramps, enterprise stablecoin services live), @Transak (published the Q2 2026 compliance cliff report, most serious public documentation of what payment companies need before july), @Stablecoin (acquired by Stripe for $1.1B, trust charter approved february 2026), @belo_app @AlchemyPay, zerohashx, @Bitso , @RipioApp @daimo @dakota_xyz @RampNetwork @tazapay

earn

(im biased here just a little bit)

the most misunderstood compliance surface in the stack

shared vaults feel like a product architecture decision. they are actually a legal structure decision. commingled user funds create fiduciary exposure, insolvency complexity, and a direct failure point in any serious institutional diligence process

the question that kills shared vault structures is simple: show me the ledger entry for user X's balance. if the answer requires reconstructing it from pool accounting, you don't have an answer

best practice: isolated per user from day one. each account its own ledger entry. yield calculated individually. never commingled. this isn't conservative. it's the only structure that survives the question above from a banking partner, a regulator, or an institutional LP doing diligence on your cap table

this is the architecture @blend_money runs. isolated accounts, clean ledger, never commingled

for the institutional layer on top: @noon_capital brings the DeFi stack diversification and insurance coverage that makes yield products viable for institutions. diversified protocol exposure across @MorphoLabs, @eulerfinance, @pendle_fi, tokenized treasuries, CLOs and private credit. insurance gating on every deployment, no capital deployed without coverage. that is the version that survives institutional diligence

the broader earn infrastructure: @opentrade_io (RWA-backed yield-as-a-service, bank-grade legal structure with bankruptcy-remote SPC, powers Littio, Kredete, Criptan), @OndoFinance, @maplefinance, @goldfinch_fi, @SuperstateInc

in europe, MiCA Article 50 prohibits interest on euro-denominated stablecoins. the compliant path runs through tokenized T-bills and RWA wrappers. yield from an underlying asset, not from the stablecoin itself. whoever builds this first owns european earn

cashback and rewards

every rewards program with monetary value has reporting obligations

(ps @itstuyo set the new standart here: buy now pay maybe)

the cleanest structure: rewards funded from interchange revenue, paid in a regulated stablecoin, accounting that reconciles per user per period, tax-reportable from day one in every jurisdiction

paying rewards in your own token introduces volatility risk for the user and securities classification risk for you. the question "is this a security?" becomes harder to answer the moment the token fluctuates and users expect returns

compliance screening, the layer underneath all of it

most teams assemble this reactively. something breaks, a regulator asks a question, a banking partner flags a transaction. then the compliance stack gets built. that is the wrong order

the teams that survive build it preventively. before the card. before the ramp. before the earn product. one continuous audit trail across every product the customer touches

the point tools doing parts of this well: @chainalysis (blockchain analytics, OFAC and sanctions screening, regulator-accepted in US, EU and UK), @elliptic, @trmlabs, @Sumsubcom (KYC, AML and Travel Rule in one integration, MiCA and FATF ready), @ComplyAdvantage, @notabene_id, @sardine, @unit21inc, @jumio, @Onfido

but point tools create point gaps. your KYC vendor does not talk to your transaction monitoring. your transaction monitoring does not feed your sanctions screening. your sanctions screening does not generate the audit trail your banking partner needs to read. every gap is a reconciliation problem you find at the worst moment

what @blend_money built is the integrated layer. AML screening, OFAC checks, KYC, transaction monitoring, per-jurisdiction reporting, all running together as preventive infrastructure before a single user touches a product. not a compliance dashboard bolted on top. the foundation the card, the ramp and the earn product sit on

IDmerit's February 2026 breach of approximately 1 billion records made this clear: your compliance infrastructure is now a counterparty risk decision, not just a regulatory one

the right order of operations

1) screening and transaction monitoring, then issuer relationship, then card

2) source of funds framework, then ramp, then volume

3) isolated ledger, then earn product, then institutional partners

4)interchange accounting, then rewards, then retention

teams that invert this order ship faster in year one and rebuild in year two. sometimes year two doesn't come

the $245M is not a card story. it's not a yield story. it's a survival story

the neobanks still standing when this market hits $2.45B will be the ones that figured out compliance is not the last thing you build. it's the only thing that lets you build everything else

WaveCrest taught this lesson in 2018. Wirecard taught it in 2020. Ftx in 2022. Binance in 2023. Ready in 2026

the lesson does not change. only the names do.

[Omar @TheOneandOmsy]

Rundown on where Visa is seeing pmf w/ stablecoins from their CEO, Ryan McInerney:
> 1) Consumer payments -> Visa card issued on top of stablecoin balances. Growing "very, very quickly" and up to ~160 stablecoin-card programs globally (i.e. Whop, Etherfi, Plasma, Redot, $WU soon etc)
> 2) Stablecoin settlement -> "Historically we settle in fiat. We do it Monday through Friday, and we do it once a day. But now we're using stablecoins to offer settlement 7 days a week, multiple times a day across border around the world". Up to single-digit billions (last # I saw $V release was ~$5 billion in Jan '26) and growing "very, very fast"

[Gap | Suby @gaspardlezin]

https://t.co/iKpvodcniG

[Ethena @ethena]

Manifest has chosen Ethena to back USH, its real estate-backed token.

@ManifestFinance joins Ethena's Whitelabel partners @JupiterExchange, @megaeth, @SuiNetwork and others in choosing Ethena's battle-tested assets as the foundation for their own products.

[Rony @Ronycoder]

Instead of watching Netflix, watch this 1-hour Yale lecture by Professor Ben Polak.

It will change how you think about decisions in negotiations, business, and everyday life.

[Ari Eiberman 🇦🇷 @AriEiberman]

The neobank problem with building using only USD stablecoin onramps is that you force every other currency to marry a single FX rate to “enter web3.” It’s an unnecessary hurdle.

Instead: onramp 1:1 to a local stablecoin and then orchestrate the best onchain FX.

Who is building this?

[Abhinav Kumar @singhabhinav]

Nigeria is ranked #1 in global USDT and USDC ownership.

Not the US. Not the UK. Not Singapore.

Nigeria.

59% of Nigerian crypto users hold USDT. 48% hold USDC. More than any other country surveyed. India is third. Brazil close behind.

The reason is obvious once you see it: in countries where local currency loses 20–40% of value annually, stablecoins aren't a crypto product. They're a savings account. A dollar-denominated store of value that doesn't require a US bank account.

Here's what the data doesn't show: most of those stablecoin holders can't use their USDT to buy anything.

No merchant acceptance. No subscription billing. No automatic payment. No way to pay a supplier. They hold the dollars. They can't spend the dollars. They convert back to fiat every time they need to transact.

The gap between stablecoin adoption and stablecoin utility is most visible not in San Francisco or Singapore. It's in Lagos, Jakarta, São Paulo.

$308B in circulation. The people who need stablecoin commerce most have the fewest tools to access it.

That's not a distribution problem. That's an infrastructure problem. The rails exist everywhere. The billing layer doesn't exist anywhere.

That's who we're building for.

[Nicholas Charriere @nichochar]

Introducing Mocha, the world’s first app builder for non-technical builders.

Lovable and Replit have a dirty secret: they only work if you’re already technical.

We fixed that.

New brand. New capabilities. Same mission: app building for the 99%.

Comment for 500 free credits at getmocha [dot] com.

👇

[hexens @hexens]

Audit Completed: @thesauros_io

A DeFi protocol automating interest rebalancing across ERC-4626 vaults using multiple liquidity providers to maximize yield.

Our review covered vault design, integrations, and ERC-4626 rebalancing logic powering Thesauros’ one-click yield flow.

📄 Full report:

[stablewatch @stablewatchHQ]

https://t.co/QegPO8TB1c

[OpenStableIndex @OpenStableIndex]

1/
An index is a lighthouse in heavy seas.

Stablecoins are eating finance from the inside out. DeFi designs bring composability superpowers while fiat is
suffocated by rent extraction and systemic drag.

The $OPEN Stablecoin Index tracks this new frontier and lets time and governance do the compounding. 🌊

[Gleb Levi Raskin @GlebRaskin]

@sirada_l Sounds interesting. Are there any product examples you already see that exist?@sirada_l

[Coinbase Traders @coinbasetraders]

Your open perp positions just became a whole lot more rewarding.

Earn up to 12% boosted USDC rewards on your open perpetual futures positions.

→ Keep positions open
→ Receive weekly rewards

All while being able to trade 175+ contracts & access to 50x leverage.

[stablewatch @stablewatchHQ]

Upcoming Project Spotlight: @ubyx_

By: @Gleb1453

A deep dive into an upcoming platform working to bridge stablecoins with traditional finance. Here’s what you need to know ⤵️

[Paolo Ardoino 🤖 @paoloardoino]

Since 2020 Tether USDt

- Market cap ↑ 34x ($4.7B ➝ $160B)
- On-chain volume ↑ 74x ($14.8B ➝ $1.1T/month)
- Users ↑ 160x (2.8M ➝ 450M)

[Gleb Levi Raskin @GlebRaskin]

@AlexBlocksource @AlexBlocksource sounds interesting

[Chuk @chuk_xyz]

https://t.co/y05faPYyi9

[Gleb Levi Raskin @GlebRaskin]

🚨 $500K wiped out in 180 seconds on deUSD! Why Chainlink wasn’t the villain… the real culprit was the feed configuration. 🧵👇

[Omer Goldberg @omeragoldberg]

$500K gone in 180 seconds.

Chainlink just proved oracles are one of the weakest links in DeFi.

Here’s what happened:

[Gleb Levi Raskin @GlebRaskin]

@omeragoldberg Key question: why didn’t @elixir enforce a ±0.5% drift limit on its @chainlink deUSD feed?
A simple cap like that would’ve prevented the 1.028 USD spike and the $500 K wipeout—protocols need to own their oracle risk, not just blame oracles.