Market Cap w/ John Cho from Ratio

Show Notes

🎥 Watch the video version: https://www.youtube.com/watch?v=zmkC-iEI72k

On this Market Cap episode, our Director of Institutional Services Stefano Sanabria speaks with John Cho, CEO at Ratio and Chief Stablecoin Officer at Kaia Foundation.

Ratio is an onchain foreign exchange orchestration layer for Asia, providing a unified infrastructure that helps financial institutions, payment platforms, and wallets move value across borders through stablecoins.

On Market Cap we feature firms and funds to explore the thinking that guides them, the patterns they observe, and other forces moving the markets.

Chapters
0:00 Why Money20/20 Feels Nothing Like Token2049
4:12 Hundreds of Millions LINE and Kakao Users
8:46 Finding Real Consumer Problems and Solutions
13:27 Asian Tigers 2.0 And Intra-Asian Trade
18:42 Asia’s Stablecoin Race For Real-World Edge
22:50 Migrant Workers Haircut By Remittance Fees
29:15 Cost Compression To Financial Democratization
32:42 Rebuilding Trillion-Dollar FX Markets Onchain
44:02 Why Consumer Crypto Stopped Making Sense
48:05 The Endgame: No More On And Off Ramps

What is Market Cap?

Market Cap is the show for serious capital in crypto. Stefano hosts allocators, market makers, and institutional operators to unpack the flows, structures, and mechanics shaping the asset class. Conversations focus on market structure, liquidity, the bridge between TradFi and crypto, and the questions allocators are actually asking. Built for professionals who treat crypto as a market, not a meme.