Market Cap w/ Laszlo Szabo from Kiln

Show Notes

🎥 Watch the video version: https://www.youtube.com/watch?v=4H0f6xHcXp4

On this Market Cap episode, our Director of Institutional BD Stefano Sanabria speaks with Laszlo Szabo, Co-founder and CEO at Kiln.

Kiln is a leading institutional onchain asset and yield management platform, enabling institutions to generate yield on their digital assets, surpassing 18 billion USD in assets delegated last year.

They offer a comprehensive suite of yield products, real-time reporting, and monetization tools that help custodians, wallets, exchanges, and asset managers streamline onchain operations.

Chapters
0:00 From Recruitment To $18B In Delegations
2:58 Why Kiln Ignored Retail And Went Full B2B
8:41 Shift From “Just Staking” To Full Onchain Yield Infra
12:34 Ethereum Wants Less ETH Staked, Not More
14:58 Turning 2.5% Staking Into 4.5% Yield
16:05 Circle’s Arc And Stripe’s Tempo Signal A New Era
24:41 Convergence Of Coinbase and Revolut
28:43 Why Stablecoins Became The Growth Market
31:58 The Core Problem With Morpho Vaults For RWAs
35:07 Railnet: Mixing Liquid DeFi With Illiquid RWAs

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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.

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.