Jing Wang joins us now, the CEO of OP Labs live down here on the trading floor.
Really nice to see you today.
Hi, thanks for having me.
Of course, OK, so everyone knows we've been covering it on the show every day here, Jing.
Not a great year for crypto prices, but maybe a great year for crypto infrastructure.
Help me better understand that disconnect between the two.
Yeah, I think there's uh something really attractive to the human psyche about looking at numbers going up and down, but what we're really focused on is enterprise adoption, regulatory clarity.
And so even though the prices have not been the best, the metrics for activity on our platform are hitting new all-time highs.
What do you see in terms of stablecoin volumes and tokenized assets?
What does the data there tell you that maybe the rest of us may miss if we don't track those things as closely?
Yeah, one crazy fact is, uh, in 2025 we settled more stablecoin payments volume than Visa, so that's 18 trillion.
And so I think, you know, crypto is pretty slept on still, uh, and enterprise adoption is definitely heating up.
I want to ask you about Ether.
Help me better understand this and our viewers watching at home.
I know it just moved its crypto card business.
What does that launch prove about using blockchain really for everyday purchases and, and, and payments?
So it used to be the case where if you wanted a credit card, you would have to go through your bank.
Uh, Etherfy is not a bank.
You can get your debit card and credit card from Ethery and a couple.
Months ago, one of their users used their card to buy a $1 million apartment in Dubai.
So not only is it faster, more efficient infrastructure, you can also do more with it than you could with previous infrastructure.
Wow, that sounds quite nice, I think, to many people watching home.
I know you're also making a big push at the same time into Korea.
Why is that market so important really to what you think is the next phase of crypto adoption?
The United States is leading right now, but it is not the only country or financial system that wants to upgrade its financial infrastructure.
The last 12 months has been a scramble to double our headcount in markets like Korea and Japan because regulatory clarity is also heating up there.
At what point does blockchain, you think, stop feeling like traditional crypto and just become much more of a part of kind of the normal everyday cadence of the financial system?
I think the better question to ask is at what point does blockchain finance feel better than present day finance, and I would argue that it already does.
OK, do you think finally, do you think the next wave of crypto adoption comes from people who may not even realize necessarily that they're actually using blockchain technology?
Totally, and I think that regulatory clarity like what the SEC announced today will help accelerate that tremendously.
That's awesome.
Well, speaking of tremendous, you've been a tremendous guest.
Jing, really grateful for your time.
Thanks for coming by the New York Stock Exchange and for being on the show today.
Thank you for having me.
Of course, we'll talk to you again soon.
