Real-Time Risk Monitoring for Stablecoin Infrastructure

We're here live at if you're just tuning in, we're in Miami at Solana's Accelerate Conference at the Altitude booth, crowd sponsors of the show, StableDash Live, the Modern Money Show, and someone who loves stablecoins is joining us right now. Give us a bit about Range, where stablecoins fit in, the business, the high level. I've been really excited to it's actually quite a shame. We haven't had you on the show yet. Yeah. I'm actually kind of embarrassed by it because of what you've been doing. It's so cool. Yeah.

I mean, we've been very busy, but thanks for having me. Yeah. So I'm Andres. I'm cofounder and CEO at Range. We are a treasury risk platform

for companies that have material exposure to stablecoins and digital assets. So we protect basically, when a company has meaningful assets and stablecoins on chain, we would help these companies protect these assets. And then we also have APIs that many companies use basically to do payment risk, fraud protection, transaction simulation, a very big footprint in Solana. Like, we, for example, work with amazing guys at Altitude. Many of the fintech companies that are starting to embrace the stablecoins,

DeFi protocols, and they're starting to work more and more with banks as well here in The US. Amazing. And you you guys have a couple different products or things that you've launched. Talk a little bit about, like, Faraday, I believe is the name of it, and some of these other, like, stablecoin native.

I don't know how you refer to these things or products or or projects or give us, like, kind of a suite of things that Range does because there's a few Everything fits in the same platform. So, basically, we have, like, a platform with different modules, and we kind of go with three pillars. So one is unified. So, basically, we help companies to connect their different wallets.

Let's say you're a company holding a stablecoins, maybe multisix like a squad, maybe use a custodian like anchorage, maybe use different wallets. So we help you put everything in the same place. We help you have a real time treasury view of all your assets, have, like, a real time reconcile ledger, and then we help you protect those assets also when their assets here are idle. So, basically, when maybe you have it in in a protocol or also when you do payments and transactions as well.

So we have these different modules. Faraday is the the one they cited earlier. What what we are doing with Faraday is we are creating basically an aggregator to move stablecoins across different blockchains, but with risk and compliance controls baked in. So, basically, we are building on top of Jupiter. We are building on top of Wormhole, CCTP, but we are adding this security risk and compliance layer.

So when you use basically either Solana or you wanna move to a different blockchain, you have these controls and these prerequisites built in. So in a way, Range, what we are trying to do is make stable coins and as easy, but as also as safe to use for for companies over all over the world have the same type of controls

you would have while while you use a bank, but while actually doing things on chain. Yeah. So so you have, in my mind, if we're, like, making this really simple, you have a company like Altitude who is selling a financial experience to an end developer or an end user, and they're seeing that kind of neobank or that kind of financial dashboard.

It sounds like Range is really selling is to that company to actually get a view of all of these different, maybe, assets that are all over these users and, like, they have different wallets. I'd imagine you're probably if if I'm a multinational company, if I'm a if I'm a big organization, maybe I use a bunch of different custodians. I can have a single view. Speak speak a little bit about the, like, ideal customer, like, the

the core ways that those ideal customers are using Range right now. Yeah. In some cases, you're even forced to like, there is regulation coming in, like, Genius, Micah, and also regulation in Brazil, where you are forced to have multiple ways to hold your digital assets. Can you can you be specific about maybe one of those examples? Like, what what regulation is forcing what?

For example, in Brazil, there is regulation coming that if you are a bank, you're a financial institution, and you are using a custodian right now, you are gonna be forced to use more than one. And this is a matter of having, like, a segregation of risk. We don't want big financial institutions to have all their assets in in one basket. Yeah. So there is regulation coming in where you're saying, hey. I need to use one, two, or up to three ways of holding your your crypto and digital assets.

And that's where we come in. Right? Like this when you started using, like, multiple platforms where you have it's kind of like a fragmented ledger. Sure. And we give you, like, sort of this real time treasury view. This is kind of like the treasury risk function that we do. For example, with with Altitude and with the Squads guys, our partnership goes a bit more deep. Like, every transaction that you do with a Squads multi sig actually runs through our transaction risk and transaction simulation service.

So if you ever used

Altitude, if you ever used Squad So we use Altitude for our business. Shout out to Altitude. If I'm sending money to a vendor or paying out a customer or something, I'm I'm actually going in. I'm putting in that that out there. I'm signing it with my passkey.

What happens next? Like, you guys are There is an invisible check that you are not seeing Okay. Where, like, for every transaction that happens in the whole Squats ecosystem, they are running, like, an invisible check-in the back end, which is a real time check that we are analyzing kind of, the counterparty. If this happens address that I might be putting in there. Yeah. Also, we are doing transaction simulation to to see if what is really gonna happen is what the user wants.

So, basically, trying to minimize, like, human operational errors, fraud type situations, and also compliance situations. Like, when you use multisig, the the UI of the move the multisig, you have, a green check, and that's that this transaction has been simulated by range In in real Altitude, since the use case is more for, like, fintechs and business banking, you wouldn't see that check. But, like, it's kind of like invisible middleware

Yeah. That many companies run before their users do a a transaction, before their users do a payment. So what would happen if I'm, let's just say, trying to do a transaction on altitude and something is not green? Like, what would I be prevented from doing that? Would I do you give flexibility to the builder to, like, determine those rules? Like, speak a little bit about so the maybe the customization of this a little bit. Yeah. This is all all up for the builder, like, the the integrator.

Like, our platform is very customizable. You can define what is risky for you, which might be very different than what's risky for the all person. The all the hacks and the things that were happening. I'm imagining that there's some sort of, like, awareness

layer of, hey. Let's avoid these protocols or these things that might be, like, at risk right now. Is that a good way to think about it? Yeah. 100%. I mean, what's been happening in the last few months in the we think that is actually having systemic risk in this industry. That's something that we don't talk enough. You know?

Like, if institutions, if companies are seeing that when you put money to work in DeFi, like, is this existential risk where all your assets are being wiped out, This is putting, like, really systemic risk into the into the industry. We are helping out of teams that have, like, meaningful assets on chain to try to add warriors, add prevention, so this doesn't happen. But but, yeah, like, we are working really hard also with the Solana Foundation, with a broader ecosystem at large to actually have ways to prevent

things like the the drift hack. Like, we're hopefully working with them very soon. And and, you know, like, teams like Squats as well that are sort of, like, pioneers. How would you prevent that if if you were to just, like, look at that situation? I'm sure you spent a lot of time looking into that. Like, let's just imagine there was a world where it sounds like that wasn't the case where Range wasn't really involved there.

Like, what what would that world look like either for Drift specifically or for those who might be integrating with Drift? We we we've been talking to a lot of teams who were, like, exposed or building on top of that protocol.

What would the range value be to like, what what would have happened if maybe range was more utilized in this way? Yeah. And, you know, we are working with very similar teams to Drift, like, for example, Camino. Here, there is a few low hanging fruits that the and and this is not the moment to sort of, like, name and shame. You know? Like, they're an amazing team, amazing builders, but I think everyone says, which is really great. This is an opportunity for for the rest of the projects to to step up.

There is a few low hanging fruits that if that specific team would have enabled, like, for example, having time locks in their multisigs, having, like, probably, like, dedicated devices, having, like, different sort of, like, op sec good practices that could have really reduced the surface of something like this happening. Would you say that there, Drew, is very interesting as well? Because it's not just Drift, but it's all the companies, all the funds building on top of that.

The problem or the challenge with crypto offering products to their end users who may not even know that a protocol like that is under the Yeah. The problem or the challenge with crypto is that it's always everything very tangled. Right? So you have a lot of dependencies, and you don't need to just have your house tidy, but you need to also take care of all the things that, you know, your protocol, your fund, your business depend on.

So it's like you need to take care of not just first order effects, but also second order effects. And this makes things a bit more challenging. But we are working hard also to have like this sort of alerting system where let's say you put some money to work in Altitude or money to work in FUSE, and then you have also the capability to react when things that might affect, you know, your capital might be affected by a hack or might be affected by a change of TBL, change of liquidity. Amazing. We we need to wrap here.

Yep. Give us a maybe I'm excited for later. I think you guys are hosting an event later this evening. Excited for that. Yeah. What's the what's the invitation to this room of of builders, of developers if someone were to be building the exact type of neobank or platform or wallet? Maybe they're in Brazil, and they're like, I need to I need to have something that solves this. What's the pitch to them? What's the core value that Range is providing?

I mean, I think, like, our core mission is, to let teams like, in crypto, everyone, likes to run. We want to help teams to move very fast without breaking things. Even if we don't think about it, crypto and little assets is really like a a marathon. It's a survival game. You wanna keep in the game. Yes. Right? So what we help these teams is is really to think long term, move fast without breaking things, both at the sort of, like, more accounting reconciliation, risk comply compliance habit readiness.

And we are just here to join and partner with teams for the long term and help them survive, help them grow without breaking things. Awesome. That was our interview with Andres from Range, CEO and ProFound, and thanks, Nunez. Thanks for having me. Excited to see you later. Yep. 100%. Be a fun one.