Stabledash Live · · 31 min
Apple Pay for Stablecoin Deposits: How Blink Cash Works
Jacob from Blink discusses how his company solves the stablecoin deposit friction preventing users from funding accounts on consumer crypto apps. Blink enables a one-click, Apple Pay-like deposit experience using passkeys and a pull mechanism rather than requiring users to manually push stablecoins from their wallets to deposit addresses. Jacob explains the broader vision of app-based DeFi replacing monolithic platforms, highlights early customer wins like Crash Market and Hit One, and discusses responsible approaches to regulating speculative consumer apps.
Key takeaways
- Only 15-20% of users who create accounts on consumer crypto apps actually fund them, compared to 40% in traditional fintech.
- Blink offers passkey-based stablecoin deposits without leaving the app, achieving 95% retention among users who switch from manual deposit addresses.
- The deposit-to-trading volume multiple is approximately 10x: one dollar deposited typically generates ten dollars in trading volume.
- Apple Pay model inspires Blink's philosophy: compress onboarding from minutes to seconds to maximize conversion.
- Prediction: many specialized financial apps will emerge rather than one everything-app, if movement between apps becomes frictionless.
- Age restrictions, KYC, and marketing controls from traditional iGaming need to be implemented in crypto apps responsibly.
- Blink targets apps with frequent redeposit behavior like Crash Market and Hit One rather than apps where users deposit once and trade over weeks.
Transcript
37 turns, about 6400 words. Straight from the recording, so it reads like speech.
Zach Fowler
host0:00
Jacob, what's going on, man? Good to good to meet you virtually. I feel like we both you've watched the show. I've been following you along on social media, so feels like we quasi know each other already, but good to meet you face to face. Likewise,
Jacob
guest0:13
guys. Great to be here. Thank you.
Zach Fowler
host0:15
I'm Zach. That's also Zach. You can call him Z. No Drew today. But, man, gonna give you a little bit of flowers when Z was asking me earlier who I was most excited to talk to today. You actually got the cake, because I just been very fascinated by Crash Market, HitOne, kind of like I said, these these new versions, these this evolving version of what markets look like. I was telling them I reached out because I saw your announcement and involvement with Crash Market.
So before we really dive deep into the weeds, maybe give the people a quick introduction of, you know, you, your background, and what you're building with Blink Cash.
Jacob
guest0:51
Yeah. For sure. I mean, will say I'm honored because the lineup today is looking pretty good, so thank you guys. Hey. Great expectations for you. There you go. We've we've been building Blink for about eight months now, so we're really new. We're really trying to do something new on the stable coin deposit side, which we'll get into. But before this, I was in Vancouver working at Layer Zero, so got to work with some great folks over there.
Learned how to build a business from these guys and essentially moved away from wanting to solve more on the issuance side and actually wanting to solve some problems for apps and all the great apps that are popping up, Crash Market being a great example.
Zach Fowler
host1:26
What what are those big problems when we think about apps? Because it's kind of been known for the past year or two. You could probably lump the neobank trend into this into this, this lane that we need more consumer apps. We don't just need DeFi protocols. We need consumer driven experiences that are built on chain.
So, like, one, maybe if you wanna call out a few apps that come to mind, and then also, like, what are the problems that these apps face that are unique and they may be a little bit different to what just a normal app on the app store may look like.
Jacob
guest2:00
Yeah. So I think what what we believe with Blink, and we're seeing it a lot more these days, but we believe that it's actually easier to launch an app with your back end being on chain. Right? Instead of going to build out an order book or any sort of thing yourself, you could just tap into an h I p three or an h I p four or the Polymarket API.
And so if you're a small team and you wanna build out a cool new experience that just doesn't exist yet, you can go and build it all yourself, or you can just build on top of these primitives that we already have on chain. So that's what we're seeing today is the coolest new weird experiences are being built on top of h I p three and h I p four and other things.
In terms of issues, we've kind of had the same issue for a while now, which is that, sure, there's more and more people that hold stables, you know, in the wallets or in the neobanks or whatever else it might be. But getting those stables into an account, you know, for funding that account so you can then do something in an app is still really difficult. What we see is that compared to people we see people actually create accounts on these apps.
We only see about 15 to 20% of them fund that account at the end of the day. So I'll the user will spin up an embedded wallet with Privy, but then there's a huge amount of drop off between creating that account and funding that account. And we solve specifically today, like, the stablecoin funding problem exclusively. So we're not an on ramp. We're not solving that sort of piece, but we're noticing more and more folks hold stables, and we're making it easier for them to move those stables into these accounts.
Zach Fowler
host3:27
I mean, personally, I can't tell you the amount of times I've been like, oh, that's super easy to create an account, and, oh, you need stablecoins on x, y, and z chain. I really don't feel like going through Coinbase or going through whatever, getting stables, sending them, going back and forth between wallets. I'll say, if if you wanna call up the company, feel free to do it. I I won't.
One of the ones that you sent me, was like, oh, I'm gonna go create an app, and I thought I could deposit stablecoins on one chain, because they supported that chain, but apparently, you couldn't. So those are gone. You know? So like you said, very blatant example of, yes, there's a problem here. So that's the problem. What's the solution?
Jacob
guest4:08
The bridging dilemma has been solved for a long time. You know, when I was at LayerZero, I saw that solved in in real time. What what really isn't solved today is the standard across all crypto UX is a deposit address. You know, you show up to an app like Polymarket or you show up to any long tail consumer app, and they tell you, you know, deposit your funds to this address, pick your chain, pick your token.
When you manually push your stables to that address, the bridging and the routing and the swapping takes place. Like, that's solved. It's been solved for a really long time. The biggest player there is probably Relay, which you guys are familiar with. But the the thing that remains unsolved is if I wanna fund my account, I have to leave the app, bring an address with me, go to my wallet, manually build a transaction, approve it, and then come back. And so that's where we see a lot of the drop off.
Where we solve the the the friction is essentially for apps that require a a really frequent repeat deposit behavior. So Crash Market, great example here. You show up to Crash Market. It's a livestream experience. You could speculate on what people will do midstream. It it it really varies. It's really cool. I encourage everyone to go check it out. But, essentially, Crash Market doesn't wanna force users to leave that livestream experience and go back to their wallet every time they wanna top up their account.
So what we're seeing in these, like, earlier consumer apps is people will throw a $100 in just to to play around with it. That might be gone in a matter of minutes. Right? People are not throwing $10,000 into these accounts, drawing that down over weeks and months. It's it's really this very frequent deposit behavior. So while deposit addresses make you manually push your stables into these accounts, what we've built at Blink is a pull mechanism.
So a user will authorize a Blink passkey to be able to pull stables from their wallet whenever they present it. So we we remain self custodial the whole way through. We never sit in between a user and their funds. But every time they go to an app that allows for Blink deposits to happen, they don't have to leave the app. They don't have to go to their wallet. They don't have to do anything. They show up. They present their passkey.
We show them their assets that they have in a wallet, for example, and then they could one click deposit a $100 without any sort of friction. So that's essentially what we're bringing to the space.
Zach Fowler
host6:19
Is that just with stablecoins, though? Or maybe if I missed this, but is this also Apple Pay, or is that next? Because I I I good. I think about the experiences that I enjoy with Amazon or, I don't know, name the random product that you come across on a Facebook ad and then you go to buy, and it's like, in a similar way, the buying window is like three minutes, sometimes less.
If I can't get to the checkout page, easily pay, and if I have to get up off the couch and go get my card, unless it's, like, an amazing product, I'm probably not gonna do it. But if you have Apple Pay enabled and it's just boom, boom, boom, done, I'm in and out in thirty seconds, I bought the product, We're on to the next, you know, next stage. How how how do you think about kind of mirroring those experiences?
Jacob
guest7:06
Yeah. So, like, what Apple Pay did for e com with, you know, the Visa cards, the Mastercards under the hood, we're trying to do for Stablecoins. Right? You can't Apple Pay into an app with your Stablecoins. It's it's Visa. So we encourage all our app customers to go get their own Apple Pay integration to grab users that don't already hold Stables, but there's no Apple Pay like experience for those people that have, you know, USDC on Solana inside a Phantom wallet. That's Blink.
So Blink is actually like Apple Pay like interface or user experience for the growing number of people that are just holding stables. Right? I show up to a third party app and wanna give it a try. I don't have to go to my wallet and click a bunch of buttons. I blink in with my face, I'm done. Right? And so we actually studied Apple Pay a lot and built our user experience off of what we see today through, you know, the Apple Pays of the world.
Zach Hughes
host7:55
I love that. I wanna match a a little bit of this conversation to some visuals. So I'm pulling up the website here. What, walk us through what we're seeing here a little bit or what we can kind of get a taste of how this works or some of the key messaging here. I love whatever just flew across the screen there. That's cool. Yeah. So it's very very
Jacob
guest8:16
yeah. Sorry. We're very it like, we're very opinionated on you know, how we communicate out to the to the world. We think deposit addresses suck. Like, we don't think this is a UX that should be celebrated ever. We see a lot of teams that celebrate a really robust deposit address experience. Like, it's no good. Like, what you should actually have is if you scroll lower, an experience that looks like this. I show up to an app, I can authorize a deposit with my face, and then I can make that deposit under the hood.
What happens there is stables get pulled from wherever they live and moved into the right asset chain combination for me, so I don't have to think about it. This is actually what we're going for here. So no WalletConnect. You know, WalletConnect is dead. No deposit addresses. It's a horrible UX that forces people to manually push and think a bunch while they're doing a deposit.
Zach Hughes
host9:02
We wanted to introduce something totally new here, and it it looks and feels like Apple Pay. I hope you guys can, you know, see that experience. Yeah. That's what I was as you were talking about Apple Pay, I was thinking about the difference of the experience of copy and pasting addresses and thinking about different rails and all the sort of cognitive load that goes on that versus doing a quick Apple Pay like experience, which is what we're seeing here, and how but how different that is, really.
Jacob
guest9:29
Yeah. So if you think about what we're doing at the end of the day is we have to retrain the user behavior. People are stuck on deposit addresses, like it's been around for so long. A lot of these users are just used to doing so, and and so it it's a battle. But once what we're noticing is that once we onboard users to the new system, the it it sticks. Like, we don't actually see people revert back to deposit addresses. Mhmm. Across our earliest integrations, now we see about 95% retention on the user side.
So if a user goes and sets up Blink once and then uses it, 95% of those users never turn off. Like, they they enjoy that new experience, and so they stick on to it.
Zach Hughes
host10:05
And this is that 95%, is that in contrast to the what did you say? 14
Jacob
guest10:11
is the sort of standard where you download, but it doesn't actually get used? No. A bit different. Right? So what we're saying there is that across a lot of the on chain consumer apps that we're familiar with, only 14% of users will create an account and fund that account Mhmm. Which is very low. Like, traditional fintech is closer to 40. So we wanna get apps closer to that 40%. Right? Like, what would it do for an app if we can triple your deposit volume? Right?
Apps usually do a 10 x inside the app on the deposit volume. So a dollar as a deposit is $10 in trading volume, for example. So if we can three x your deposit volume, what would that do for you as a business? What I described on the 95% retention is when we can convince a user to ditch deposit addresses and use Blink, 95% of those people never touch a deposit address again. They stay on Blink, and they continually redeposit with Blink.
Zach Fowler
host11:08
So I wanna ask you about Yeah. Please go ahead. No. I was gonna say I saw a few few friendly faces on the website, few logos. Megapod, really great example. And I I correct me if I'm wrong. I feel like I've seen some case studies that you post about your conversions, and then I see Patrick post about other other case studies where they're like, yeah. We've seen increased engagement.
So there seems to be a really interesting blend here between not only embedding Blink into consumer apps, but also embedding Megapot in consumer apps as well. Do you can you call out any of these specific case studies and maybe how you've worked closely with the Megapot team? Like I said, and just really paint the picture around, like, what what do you mean by the apps, and what do the apps look like that you want to be embedded in, that you want to work on?
And I the maybe the second part of this question, which might be better answer first is, how do we get more stablecoins into people's hands too? Because I think what you're doing is great as far as when they have them. I think the question I lot of time I ask a lot of the times is, but how do you get more people to just have stablecoins?
Jacob
guest12:16
Yeah. I think the neobanks are doing a good job there. Right? Right now, we're we're focused on helping those users that already have them move them more easily. And if we can solve that piece, you know, you can you can make an assumption that, therefore, it might be easier for people to hold them in the first place. But we're not a wallet. We're not trying to be a wallet. We're not trying to be an on ramp right now.
We're really like a movement layer between those that have stables and the third party apps that they wanna try. In terms of the the target customers that we serve today, like I said before, it's really those that are on the consumer side. They're doing weird stuff. They're they've invented a new sort of way to trade or a new way to speculate or whatever it is, and the deposit behavior is is frequent. It's not like I'm throwing $10,000 into hyper liquid, I'm opening up a trade and I come back in a couple weeks.
It's I show up to a crash market or a hit dot one, I enter this really weird, cool, exciting trade, and if it doesn't go my way, I wanna try again. And the way I'll do that is I'll blink in another, you know, $100 and do that really easily. So we're a redeposit solution for these apps. Like, imagine every time you wanted to make a trade on this, like, tap trading app, you have to go to your wallet and manually push funds every single time. Like, naturally, you just see less people do so.
So that's essentially who we're targeting. To go back to Megapod for a second, Megapod team's great. Seems like Megapod is becoming more and more of like a protocol and less of a front end. They're gonna be powering these, you know, cool experiences that other apps create. And so what we did in the early days about two months ago is we wanted to give people something to do on our website. We're not actually an app in our in itself. Right? We we live on other apps' deposit pages.
But on our website, what we created, and we were the first people to do it, is a deposit to win experience. So we said, look. Deposit into our app just for fun. We'll give you a couple mega pot tickets as a sweetener just so you could try out the products. And so people were coming in, they were depositing a dollar, and we were giving them a couple mega pot tickets on the other side, and people loved it.
And so then what happened is we saw an a bunch of other third party apps, apps that we were not even serving, kinda incorporate this deposit to win like behavior. So we're starting to see this more and more where an Apple say, hey, we just launched. Come give us a try, and you know what? Deposit $10. Use it in our application. We'll give you a free Megapod ticket. So it's a bit of like a CAC strategy that we sort of invest really cool.
A bunch of apps are doing it, and it's great for Megapod because this is what this is what Megapot needs. Right? They're a protocol at the end of the day. So people have to build on top of them.
Zach Fowler
host14:52
Yeah. I think I I'm probably gonna hit it, Patrick, after this and call him back for an update because I think we talked to them right after their their fundraise, and I just keep on seeing them on my timeline. And I think I I see them in ways, to your point, that I didn't expect to see them. We we briefly touched on this, like, protocol, embed, how to let people white label. It seems like they've really leaned hard into that angle over just, you know, being an on chain lottery, which I'm partially happy to see.
Let's go down this, this hit one route a little bit to though, because I've we've seen more and more of these tab trading experiences. It felt like maybe six to twelve months ago. Really in the early days, technology was kind of there, but they were kind of half baked ideas. It seems like some of these are getting ready to come to market.
Kind of break down what is HitOne, what is tap trading, and, why do you think it maybe has a shot at being kind of this, this next wave of of a consumer application that, you know, maybe see some product market fit or follows the like of of FOMO or something like that.
Jacob
guest15:51
Yeah. For sure. So just to be clear, Hit one is not actually a tap trading application. Like, you have a you have a bunch of these cool ones. Euphoria is a really great one that you guys are probably very familiar with. Hit one is trying to do something new, like, totally new, and they're actually relaunching their their season two in a very soon. I don't wanna share too much. I'll let them do that themselves. I actually don't know how much I could share.
But at the end of the day, they're they're incorporating like a whole new game that involves high leverage traits, like that that we can say. And so the idea there is you come in and you, you know, you ape into some crazy trade, and sometimes you can configure it, sometimes you you let the sort of like the system make the trade for you, and that's even more fun in that way. But the idea being is that I come in and I throw a $100 in here, and I'm I'm expecting to hit one.
I'm expecting it to thousand x or 500 x in a couple of minutes, and naturally, it's not always gonna happen. Right? So you need they needed a solution where users could come in and try it, and then without really leaving that experience too much, load more balance into their account so that they can play again and play again and play again. And so Blink essentially did that for them. And so we're excited to be a launch partner for them when they launch season two. It's coming really soon.
I encourage you guys to, you know, check it out and and stay updated on socials. But they've built something that doesn't exist in the space today, and, like, those are the best customers for us. We wanna build actually believe that the everything apps of the world will not it won't that won't be such a thing in a couple years because all the crazy new experiences that that get built will need their own dedicated front end.
So we don't believe in this, like, everything app thesis, like, you'll do everything in Robinhood or you'll do everything in Coinbase. We think if you can solve the movement between apps, you allow this, like, crazy app ecosystem to to emerge and thrive, and so people will have 20 financial apps on their home screen instead of one or two. That's the world that we're we're building towards.
Zach Fowler
host17:44
It's interesting. We I'm bookmarking this for the transcript really quick. Ask this question. That's a move move me debate topic right there. Is there gonna be one financial app to rule them all or 20 apps? Jacob, don't know if you've seen. We've started doing some debates on just topics in this space, and this has gotten brought up a few times where I think it's enough for it to be a a topic. So I I needed the I need the transcript for the AI to to log back and get it busy. Go ahead and answer your question.
Zach Hughes
host18:10
Yeah. I'm thinking about how you're speaking about this stuff, Jacob. You mentioned right now, Blink is measured in months, not years. It's a young company, but it seems like you're taking kind of a historical, almost like philosophical bent of, like, these are the things we believe about the world. These are the thesis we think are gonna be backed up. This these are the great examples of user experience or something. Like, what are some of those core beliefs that you think about that this company is built off of?
Or even it could be some of those core beliefs, some of those core examples of, like, be like Apple Pay or something like that. What are those that are really supplying the fuel and kind of the direction as you make decisions in this early stages of the company?
Jacob
guest18:54
Yeah. Good question. I think we mentioned a couple. So, yes, Apple Pay is a great example. Like, they've built a beautiful checkout experience that has taken over ecom. Apple pays everywhere they go. I don't even hold the wallet anymore, like it's just my phone. And so, like, we obviously look up to Apple and the the product experience that they've built, and it comes out in Blink. Like, if you use Blink, you can feel some of those product decisions that we've made get inspiration from Apple. Mhmm.
I think another principle that we have is we think that there's these really creative people out there that will leave Polymarket, leave Hyperliquid, leave, you know, great companies and go wanna build their own really unique app or financial experience. And so our job as Blink is not really to get in the way of that. It's to enable these people to, you know, offer their products to the world and show the world what they have. Right?
So when we think about Blink, like, we are a conversion tool in service of these apps. That's all we are. That's really all we are, similar to Apple Pay. And so our our job at the end of the day is just gonna be to compress that onboarding cycle from a couple minutes to a couple seconds. And, like, that's how we think about things, and that's what we track. And so there's a million different things that we could do to make that onboarding experience better.
We look up to people like Stripe and Privy on the on the product side at the same time. But our goal is really to get people into these apps, experiencing these cool things that these creatives are building as easily as possible. Like, you should be able to go on Twitter,
Zach Hughes
host20:23
read about hit one season two, click the link, and you're funded in ten seconds. You're playing in ten seconds. I love it. I mean, what it makes me think is, like, once you experience that, you won't be able to unexperience it. Right? Like, you're you're speaking about, like, not even having a wallet, just carrying your phone. I'm remembering, I don't know how many years ago, not that not that distant past, being in Europe, I was traveling, and everyone was using Apple Pay.
And it was kind of like The US was not really that adopted yet. And it was but Europe was for some reason, and I'm sure there was other markets maybe even that were further ahead of contactless picked. But I remember sort of thinking, like, this is nice. So you just do this little tap thing. This is really nice. You have to carry a wallet. You can't lose your credit card. You can it's harder to get robbed. See, right away, all these things, you know, what whatever.
And it's just I think that there hasn't been that revolution yet for the stuff that you're talking about with financial app onboarding at all. And so it's like, it is really this is nice. It's sticky. You know? It's sticky, and it's annoying. And I think but once you experience something like that, once blink becomes a verb that people are using,
Zach Fowler
host21:35
then it's like, oh, okay. Yeah. I was just saying great job with the name and branding there. I I do wanna think through one, I I I admire your, in a way, simplicity to the product you're building. Like, hey. This is a very, like, specific problem that we wanna solve. We don't need to have on, off ramps. Like, this is what we're doing for these people. When you think about this broader I think this is a term we could start to use, like, appification of DeFi. Aave is doing it. We just talked with Athena.
They're bringing on an app. We're seeing more and more of these. Like, when you think about consumer app app apps, I, you know, I get the novelty side, but, like, what do you how do you think through, like, what apps need to exist? What apps do you want seeing people being building with Blink to to power this application of DeFi. Because I I would agree with you. I would probably use a lot more DeFi applications and even, like, gamified experiences if they were apps.
I just don't wanna go through a wallet and then go through the browser on that wallet and then to have to deal with connecting it through my browser, my website. It's just an absolute nightmare. So, yeah, how do you think about this era of apps, consumer apps? Feel free to call out people like we have, but even, like, help us paint the vision of, like, call a call to builders. What what should what do you want to see people building?
Jacob
guest22:59
Yeah. It's a good question. I look. The truth is as Blink, like, we have we're unopinionated on what people build. Right? We want people to build unique experiences for users. And if those unique experiences pan out, fantastic. If not, you did a great experiment, and that's information for the market. Right? So, like, we don't actually care what you build. We're excited by new things. Like, give you guys a great example. There's an app called MogBet.
You can show up, it'll scan your face, it'll give you a score, like a facial structure score, and you can PVP other people and put others could put money on the line to see who's who's better looking effectively. Right? It sounds insane. It sounds crazy, but these are the cool things that excite us because you don't know what's gonna stick at the end of the day. You really don't know. At one point, people were probably saying this about polymarket.
And so our goal is, like, let creatives build really cool things, see what happens, and kinda go from there. We have we have we have no opinion on it. The the weirder it is, the more exciting it is for us, though, I will say. I mean, Facebook essentially started with something similar. Right? It's like a hot or not kind of app experience in the early days.
Zach Hughes
host24:06
Yeah. It's like I I think that's the thing is that all of all or almost all of the great companies were, somebody in a hacker play mode. And we've been talking a lot about Apple. It's like Apple was like was in a garage.
Zach Fowler
host24:22
Like, Steve Jobs coming along and be like, we might really have something here. Yeah. Jobs said that Jobs said that people don't know what they want until you show it to them. And so there there is this, like, stagnant aroma in the space right now of just kind of this reiteration.
You know, we saw this era of DeFi of the forks of the off a code and and the forks on the forks on the forks, and you've seen the neo the neobanks, which, you know, I I land more on the side of we should probably have more neobanks, you know, build the build the purpose built neobank for the specific finance flows that you want to that you couldn't build five, ten years ago. On the other hand, like, let me ask you this, Jacob.
I understand that your own opinionated is Blink, so maybe I'm gonna ask you this as Jacob and not not as Blink. Where is where is this line of, gambling slash, you know, trading. How do you think about towing this line? Maybe get a little philosophical here just generally in in views of of society. I even, you know, even think about the line of prediction markets.
Do do we need to have this many apps that are constantly driven by financial incentives or do you just need to have a game that you're playing for for the for the sake of playing the game? Like, how do you maybe personally, like, think about that line and these experiences?
Jacob
guest25:43
We think about it, and I I think, like, you could look to social media as a good example. You know? Like, everyone's on social media. It's part of society now. Is social media great for everybody? No. You know? And that's why we have age restrictions and all of that great stuff that needs to be there. We think about the future of all these cool on chain apps, and we like, ultimately, we can't see a future without any kind of regulation. Like, it's coming.
I don't think a 12 year old kid should be able to go on an app and lose a bunch of money because they don't know better at that age. Right? So I think we need, like, certain controls that you have in the traditional iGaming space that don't exist in crypto. Those have to be there. I think we need to be careful on the marketing side a lot of times. You know, it's it's again, the same as social media.
Like, you can't you can't tell someone that they're gonna 100 x their money and only use that as an example because then you're giving people the wrong impression. Right? So we wanna support people in building whatever sort of app that they wanna put out into the world. We hope that a lot of those are are actual fun games that no matter what the outcome is, somebody enjoyed it. A lot of times that is gonna be a dopamine hit. Let's be honest.
But you need some controls, and I think we're we're headed there where the age restriction stuff is coming, the KYC stuff is coming. We're preparing as a blink for that future, but we ultimately think, like, that's what's gonna accelerate everything because that's gonna be a lot more kosher to offer an app out to the world and not have to be worried about, you know, people accessing it that shouldn't otherwise access it.
So my our whole our whole stance, even as a company, I'd say, is, like, let people build cool stuff, but do it responsibly. And if you do it responsibly, like, it's it's in everyone's benefit.
Zach Fowler
host27:19
You know, I love that you draw that comparison. I'm even thinking through, you think about the apps that you the games that you can download on the Apple Store. How many of them are, at some point, are hitting you with a paywall and saying, hey. Pay $5.10, whatever dollars to remove the ads and to boost this experience. And you've heard about, you know, people dropping, you know, thousand dollars on, Fortnite bucks, and it's like, for what at the end of the day?
Like, if you are playing a game, do you wanna have at least some upside? I would say I'd rather have people have upside than to just completely just be aimlessly funding a gaming experience so you can have a, you know, a character skin on a game. So, that just that was a personal epiphany in the middle of this conversation.
Jacob
guest28:02
I can't have upside. Oh, go ahead. Go ahead. Please, Jacob. I was just gonna I was just gonna add, like, I've got a 10 year old brother, and you'd be surprised what these kids do. Like, he plays Roblox, and at school, they use Robux as a currency amongst friends. So they're like, hey. I did this in the real world. Like, you owe me 10 Robux or a 100 Robux or whatever. So the point is, like, kids are doing this anyway at the end of the day. Right? This is the behavior they've they've been born into.
Every game they try, you have to buy gems or coins or whatever, skins. Like, it's just part of culture. And so I think, like, we can't really avoid it. But again, you could do it responsibly, and we wanna we wanna support apps that are doing it responsibly for sure.
Zach Hughes
host28:40
My last question for you, Jacob, I was looking at your site, and I was trying to figure out what's going on with this guy right here.
Jacob
guest28:47
Yeah. Yeah. So this is like a this is like a call to apps. Right? So the idea with Blink is we've seen in our earliest customers, those customers that integrate Blink tend to see more redeposit volume from their end users because it's easier for the end user to then redeposit. Right? Hit one is a great example. Crash mark is a great example. If you allow a user to top up an account without going to the wallet each time, naturally, they top up more.
And so when we talk about Blink, we talk a lot in terms of a redeposit lift. Like, what would what would an increase in deposit volume through redeposits do for you as a business? Right? So we mentioned the 10 x multiple earlier. What we see is, like, a dollar into an app usually leads to about $10 of trading volume, and so this is, like, the calculator that's trying to represent that. But at the end of the day, like I said, like, Blink is a conversion tool for apps.
It lives on other apps, and users interact with it. But we're all about helping users move their funds into those apps in the easiest possible way. When you make it easier, you get more deposits. When a store integrates Apple Pay, they get more purchases. Same idea.
Zach Fowler
host29:54
Short, sweet, to the point. It logically follows, but I'm excited to see Blink in the wild. I'm looking forward to the day where because I feel like I find apps through Blink. Now let me find apps out in the wild and then use Blink.
Zach Hughes
host30:08
Hey.
Jacob
guest30:09
That's the goal.
Zach Fowler
host30:11
Awesome. Well, Jacob, please keep us keep us in mind as, as you continue to grow. Please, if there's any teams that are are really interesting building in this, you know, future of markets world, especially on top of the prediction markets. We'd love to we'd love to talk with them, and I appreciate you carving out time to come on the show today. Awesome, guys. Appreciate you. Thank you. Thanks, Jacob. See you next time. See you.




