Aniket Warty

Director at Atlantis Inc

Money

Never Sleeps

Aniket Warty is a serial entrepreneur with a passion for building businesses from scratch. He specialises in online gaming, e-commerce, and IT, and is the Director and Board Member of Atlantis Inc, a Venture Capital and Private Equity company based out of the US. Aniket has the unique ability to work in proactively diverse and inclusive organisations across industry types, niches, geographic or linguistic variants. He’s always on the lookout to transform the next innovative idea into a sustainable business that has the vision and foundation to make a positive impact on the world.

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Monetize the Float, Not the Hype: My Blueprint for Stablecoins

<!DOCTYPE html> <html lang="en"> <body style="font-family: Calibri; color:#000000;"> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Reality check (data, not vibes) </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; USD still owns the rails. Multiple trackers show <span style="font-weight:bold; color:#000000;">trillions in stablecoin settlement</span> each month, with activity dominated by <span style="font-weight:bold; color:#000000;">USDT/USDC</span>: the gravity well is the dollar. Visa’s on-chain dashboard alone shows multi-trillion cumulative volumes and 24/7 usage, with USDT/USDC leading across Tron, Ethereum, Solana, Base, etc. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">USD-denominated stablecoins ≈ ~99% of the market by value/flow;</span> non-USD supply is still tiny by comparison. (<span style="font-style:italic; color:#000000;">Kaiko; Atlantic Council/others corroborate the concentration.</span>) </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Euro stables?</span> Growing but still niche, roughly <span style="font-weight:bold; color:#000000;">$0.5–0.6B total</span> across variants. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Asia’s rulebooks are materializing:</span> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Hong Kong’s</span> stablecoin regime took effect <span style="font-weight:bold; color:#000000;">Aug 1, 2025</span>; licenses now required (none issued yet). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">UAE</span> ran <span style="font-weight:bold; color:#000000;">retail CBDC pilots</span> and executed <span style="font-weight:bold; color:#000000;">live cross-border CBDC settlement on mBridge</span>; Digital Dirham has <span style="font-weight:bold; color:#000000;">legal tender</span> status and a phased rollout plan. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Singapore</span> finalized a <span style="font-weight:bold; color:#000000;">single-currency stablecoin (SCS) framework</span> setting reserve, custody, audit, and same-currency asset rules; XSGD continues to expand chains/use. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Philippines</span> graduated PHPC from the BSP sandbox, first regulated peso stable. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Japan</span> opened the door in 2023; <span style="font-weight:bold; color:#000000;">USDC</span> gained approval/listing under the FSA framework in <span style="font-weight:bold; color:#000000;">Mar 2025</span>. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Cross-border treasury:</span> A Dubai logistics firm pays its Manila engineering team in minutes using Zen-USD on Tron → off-ramped to PHPC rails locally; payroll variance drops and suppliers give better terms. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Exchange settlement:</span> A regional CEX uses Zen-USD/Zen-AED for T+0 clearing with our OTC desk; we auto-route across Solana/Base based on fee/latency, cutting their float needs by 30%. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Compliance at speed:</span> Our AI flags abnormal velocity and clustering on a corridor (SG ↔ UAE) in &lt;200 ms, automatically gating redemption until enhanced checks pass, protecting liquidity without manual choke points. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> The Zen lens: what survives is what creates real value </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> A stablecoin is not a “crypto stunt”; it’s a <strong>capital-markets product.</strong> Value flows to issuers who (<span style="font-weight:bold; color:#000000;">1</span>) guarantee hard-edged redemption, (<span style="font-weight:bold; color:#000000;">2</span>) move money globally in <strong>milliseconds,</strong> and (<span style="font-weight:bold; color:#000000;">3</span>) <strong>monetize float</strong> within clear, rights-respecting rules. Anything else is altruism with other people’s money. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Liquidity is a network good.</strong> Traders, treasurers, and market makers choose the path of least friction. If your coin can’t settle quickly across major chains, exchanges, OTC desks, and banks, it <strong>won’t</strong> clear. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Float must be a business, not a hobby.</strong> In the EU under <strong>MiCA, EMT issuers can’t pay interest to holders;</strong> yield accrues at the issuer level. That means you design like a bank (risk, duration, capital) while communicating like a payments network. (MiCA also pushes <strong>same-currency, HQLA (High Quality Liquid Assets)-style reserves.)</strong> </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Go beyond “local payments.”</strong> Cross-border settlement is the killer app. Domestic POS is crowded, regulated, and already “good enough.” Your edge is 24/7 finality across corridors. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Redemption discipline:</span> I run institutional redemption windows (e.g., 10:30 &amp; 15:30 Gulf time) with guaranteed wire cut-offs; a market maker can always convert Zen-USD to USD on the same day, which underpins tight spreads on exchanges we support. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Network liquidity:</span> We pre-seed AMM pools (Solana, Base, Tron) and maintain centralized order-book quotes via our MMs; our treasury AI rebalances inventory per-chain so traders never “feel” fragmentation. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Float monetization:</span> The reserve’s short-duration ladder finances audits, 24/7 ops, and corridor incentives; the user doesn’t get “interest,” but the product remains solvent, scalable, and competitively priced. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> “US states are launching stablecoins” and why most won’t matter </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Wyoming</span> just launched <strong>FRNT</strong>, a state-issued, fully reserved USD stable token with statutory over-collateralization. That’s serious public-sector experimentation; but it’s designed for <strong>state cash management and public-sector rails,</strong> not global liquidity. Don’t expect CEX/DEX depth or global MM support out of the gate. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Texas</span> floated a <strong>gold-backed digital currency</strong> (HB4903); it <strong>didn’t pass.</strong> <span style="font-weight:bold; color:#000000;">Utah</span> pursued a <strong>precious-metals payment platform,</strong> which <strong>hit a veto.</strong> The direction of travel is interesting, but these are <strong>local, policy-driven</strong> instruments with limited interoperability, not the cross-jurisdiction settlement assets I need for Zen. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Interoperability check:</span> If FRNT ever exposes institutional APIs, I can treat it as a funding source for Wyoming-linked payables; but I won’t route exchange or OTC volume through it unless it achieves global exchange listings and deep on-chain liquidity. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Gold tokens vs settlement:</span> A commodity-pegged instrument may be great for saving; it’s poor for <strong>instant netting</strong> across exchanges. I prioritize assets that clear in milliseconds on chains where our counterparties already operate. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> So what’s the play in Asia (and for Zen)? </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My thesis is right: <strong>the only viable non-USD stable</strong> in our region must combine a <strong>local peg + RWA yield engine + global rails.</strong> Here’s what could be a crisp execution plan for Zen’s stack: </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>1. Start where liquidity already is (USD), then localize.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Launch <strong>Zen-USD</strong> via a licensed issuer (HK/ADGM path), with multi-chain mint/burn and institutional redemptions. Use it to <strong>prime liquidity</strong> on CEX/DEX and in OTC corridors that already demand dollars. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; In parallel, stand up <strong>Zen-AED</strong> (or partner) with <strong>proper reserve governance.</strong> Until AED HQLA/tokenized instruments are abundant, structure reserves under local rules (prefer “same-currency” cash/T-bills equivalents where permitted) and keep FX/hedge risk close to zero. UAE’s CBDC/mBridge roadmap is a tailwind I can integrate with as it goes live. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Corridor bootstrapping:</span> Seed Zen-USD/USDT and Zen-USD/USDC pools on Base/Solana with MMs; once spreads stabilize, list Zen-AED/USDT on regional CEXs to unlock GCC payroll and B2B invoices. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">mBridge adjacency:</span> When UAE↔HK CBDC rails expand, I can offer instant FX netting: Zen-AED ↔ HKD settlement with atomic swaps, reducing nostro balances for trade clients. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>2. Separate stability from yield (by design).</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Keep the stablecoin <strong>non-interest-bearing</strong> to comply with regimes like MiCA/Singapore. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Create a <strong>separate, restricted-investor “Yield Note” (or MMF token)</strong> that securitizes the reserve yield (T-bills, repo, short-dated government paper, and, where rules allow, <strong>tokenized RWAs).</strong> The stablecoin stays par-redeemable; the <strong>yield stream</strong> finances operations and can be shared with qualified holders or the treasury. (MiCA’s interest prohibition is the key reason to split.) </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Two-track offer:</span> Corporates hold Zen-USD for payments; treasury desks of qualified institutions subscribe to the Yield Note backed by the same asset class profile: clean separation of utility vs return. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Duration control:</span> If redemptions spike, my AI treasury engine shortens WAM (Weighted Average Maturity) automatically; Yield Note investors see transparent ladder changes in their monthly report. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>3. Own the corridors, not just the coin.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Wire into <strong>SGD (XSGD)</strong> and <strong>PHP (PHPC)</strong> rails for <strong>SG↔UAE↔PH</strong> flows; list Zen-USD/Zen-AED pairs against XSGD/PHPC and seed AMMs plus MM quotes. This is where treasurers and exchanges feel real value. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">SG payroll hub:</span> A Singapore SaaS exporter bills UAE clients in Zen-USD, pays devs in PH via PHPC, and takes profit in XSGD. I run the conversion stack and guarantee T+0 across all three legs. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Broker connectivity:</span> FX brokers plug our SDK for after-hours settlement; their clients stop waiting for correspondent banks. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>4. AI-driven treasury + compliance.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Treasury AI:</span> predict redemptions, ladder maturities, and automate chain-by-chain liquidity (Tron/Solana/Base/Ethereum) in real time. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Risk/AML AI:</span> velocity, clustering, and anomaly scoring across issuers, exchanges, and on/off-ramps, sub-200 ms to keep fraud and sanctions risk near zero (aligned with HKMA/ADGM/VARA expectations). </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Chain liquidity autopilot:</span> If Solana pools run hot, my system shuttles inventory from Tron and tops up MM wallets pre-emptively, keeping spreads stable without manual ops. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Real-time gating:</span> Sudden wash-trade patterns trigger step-up KYC/Source-of-Funds, with automated notices to counterparties; legitimate flow continues uninterrupted. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>5. Distribution &gt; everything.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">OTC:</span> Offer atomic swaps and T+0 settlement to MMs/exchanges; pre-fund nodes in key hubs (Dubai, Singapore, HK). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Merchant/API:</span> SDKs for PSPs, FX brokers, payroll/treasury SaaS; pass-through stablecoin rails under their brands. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">DeFi liquidity:</span> Deep pools on top three chains of each coin; programmatic inventory managed by the treasury AI. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Pre-funded hubs:</span> I keep hot buffers in Dubai/Singapore so counterparties never wait on fiat wires; settlement SLAs become our competitive moat. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">White-label rails:</span> A PSP integrates our API; their merchants “use” stablecoin rails without even knowing, chargebacks drop, reconciliation improves. </p> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>6. Governance and disclosures that out-compete trust.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <strong>Daily reserve snapshots, weekly attestation, monthly full breakdown</strong> (chain, bank, instrument, duration). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Immutable on-chain mint/burn + proof-of-reserves anchors. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Transparency page:</span> A public dashboard shows per-chain supply, bank exposures, and WAM updated daily; counterparties can verify mint/burn proofs on-chain. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Attestor rotation:</span> I rotate audit firms for quarterly deep-dives to avoid single-advisor capture. </p> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>7. Cost realism.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Between licensing, capital, audits, cyber, 24/7 ops, and multi-jurisdiction legal, assume <strong>tens of millions</strong> in setup/first-year burn (HK and MiCA are not cheap). Treat the <strong>float’s net yield</strong> as the core P&amp;L engine, not marketing spend. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">P&amp;L discipline:</span> I budget reserve yield first for compliance, security, and liquidity incentives; only residual funds go to growth. This keeps the product solvent through market cycles. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Staged rollout:</span> HK + ADGM first; once disclosures and liquidity hit targets, I expand to one additional corridor per quarter. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Why the UAE can actually win (and why I should lean in) </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <strong>CBDC adjacency + mBridge</strong> means I can eventually clear <strong>x-border in central bank money</strong> and still run <strong>commercial stablecoin rails</strong> for everywhere else. That combination plus the region’s dollar pegs and trade links is uniquely smart. The <strong>legal-tender</strong> status and staged rollout signal long-term commitment. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Trade finance shortcut:</span> A Sharjah importer settles with a Hong Kong supplier using mBridge rails for CBDC finality, while I provide Zen-USD liquidity for hedging and just-in-time working capital. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Treasury optimization:</span> Government-linked entities move to CBDC for domestic cash ops; I handle cross-border edges where CBDC corridors aren’t yet live. </p> <p style="font-size:13pt; margin:0; text-align:justify; color:#000000;"> <strong>So strategically:</strong> </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; CBDC adjacency + mBridge = regulatory legitimacy + ultimate settlement finality in cross-border corridors. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; Stablecoin rails = global liquidity + retail and institutional access + yield on reserves. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; I get the best of both worlds: settle big institutional FX/wholesale flows on mBridge, run commercial payments, gaming, remittances, and DeFi on stablecoins. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Bottom line </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> If I build it, I’m not building a stunt; I’m building a capital-markets product. The coin must clear instantly across borders, redeem reliably, and monetize float within rights-respecting rules. Anything else is charity with other people’s money. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My sequence: <strong>own USD rails → localize</strong> (say, AED) → <strong>own the corridors,</strong> with AI as the operating system. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> A stablecoin that <strong>doesn’t</strong> monetize float, <strong>doesn’t</strong> ride the deepest liquidity rails, and <strong>can’t</strong> deliver instant cross-border finality is a charity project, not a business. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My play is to <strong>own the corridors</strong> (USD first, AED next), <strong>separate yield from par,</strong> and use <strong>AI + ruthless disclosure</strong> to make our rails the rational choice for traders, treasurers, and MMs. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> Markets reward reality, not rhetoric. I am not building charity or spectacle. I am building rails that clear value at the speed of thought and settle claims under rights-respecting rules. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My standard is profit earned by reason, my method is transparency enforced by code, my aim is long-range control of the corridors that matter. Keep the yield separate from the peg, keep redemption sacred, keep governance visible. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> That is how we win: by treating money as an achievement and refusing to fake the cost of it. </p> </body> </html>

By Aniket Warty

26 August 2025

12 Min Read

America’s Quiet Bitcoin Reserve - What It Means for Wall Street (and How ZenX Helps You Win)

<!DOCTYPE html> <html lang="en"> <body style="font-family: Calibri; color:#000000;"> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Reality check (data, not vibes) </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; USD still owns the rails. Multiple trackers show <span style="font-weight:bold; color:#000000;">trillions in stablecoin settlement</span> each month, with activity dominated by <span style="font-weight:bold; color:#000000;">USDT/USDC</span>: the gravity well is the dollar. Visa’s on-chain dashboard alone shows multi-trillion cumulative volumes and 24/7 usage, with USDT/USDC leading across Tron, Ethereum, Solana, Base, etc. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">USD-denominated stablecoins ≈ ~99% of the market by value/flow;</span> non-USD supply is still tiny by comparison. (<span style="font-style:italic; color:#000000;">Kaiko; Atlantic Council/others corroborate the concentration.</span>) </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Euro stables?</span> Growing but still niche, roughly <span style="font-weight:bold; color:#000000;">$0.5–0.6B total</span> across variants. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Asia’s rulebooks are materializing:</span> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Hong Kong’s</span> stablecoin regime took effect <span style="font-weight:bold; color:#000000;">Aug 1, 2025</span>; licenses now required (none issued yet). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">UAE</span> ran <span style="font-weight:bold; color:#000000;">retail CBDC pilots</span> and executed <span style="font-weight:bold; color:#000000;">live cross-border CBDC settlement on mBridge</span>; Digital Dirham has <span style="font-weight:bold; color:#000000;">legal tender</span> status and a phased rollout plan. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Singapore</span> finalized a <span style="font-weight:bold; color:#000000;">single-currency stablecoin (SCS) framework</span> setting reserve, custody, audit, and same-currency asset rules; XSGD continues to expand chains/use. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Philippines</span> graduated PHPC from the BSP sandbox, first regulated peso stable. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Japan</span> opened the door in 2023; <span style="font-weight:bold; color:#000000;">USDC</span> gained approval/listing under the FSA framework in <span style="font-weight:bold; color:#000000;">Mar 2025</span>. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Cross-border treasury:</span> A Dubai logistics firm pays its Manila engineering team in minutes using Zen-USD on Tron → off-ramped to PHPC rails locally; payroll variance drops and suppliers give better terms. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Exchange settlement:</span> A regional CEX uses Zen-USD/Zen-AED for T+0 clearing with our OTC desk; we auto-route across Solana/Base based on fee/latency, cutting their float needs by 30%. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Compliance at speed:</span> Our AI flags abnormal velocity and clustering on a corridor (SG ↔ UAE) in &lt;200 ms, automatically gating redemption until enhanced checks pass, protecting liquidity without manual choke points. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> The Zen lens: what survives is what creates real value </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> A stablecoin is not a “crypto stunt”; it’s a <strong>capital-markets product.</strong> Value flows to issuers who (<span style="font-weight:bold; color:#000000;">1</span>) guarantee hard-edged redemption, (<span style="font-weight:bold; color:#000000;">2</span>) move money globally in <strong>milliseconds,</strong> and (<span style="font-weight:bold; color:#000000;">3</span>) <strong>monetize float</strong> within clear, rights-respecting rules. Anything else is altruism with other people’s money. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Liquidity is a network good.</strong> Traders, treasurers, and market makers choose the path of least friction. If your coin can’t settle quickly across major chains, exchanges, OTC desks, and banks, it <strong>won’t</strong> clear. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Float must be a business, not a hobby.</strong> In the EU under <strong>MiCA, EMT issuers can’t pay interest to holders;</strong> yield accrues at the issuer level. That means you design like a bank (risk, duration, capital) while communicating like a payments network. (MiCA also pushes <strong>same-currency, HQLA (High Quality Liquid Assets)-style reserves.)</strong> </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <strong>Go beyond “local payments.”</strong> Cross-border settlement is the killer app. Domestic POS is crowded, regulated, and already “good enough.” Your edge is 24/7 finality across corridors. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Redemption discipline:</span> I run institutional redemption windows (e.g., 10:30 &amp; 15:30 Gulf time) with guaranteed wire cut-offs; a market maker can always convert Zen-USD to USD on the same day, which underpins tight spreads on exchanges we support. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Network liquidity:</span> We pre-seed AMM pools (Solana, Base, Tron) and maintain centralized order-book quotes via our MMs; our treasury AI rebalances inventory per-chain so traders never “feel” fragmentation. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Float monetization:</span> The reserve’s short-duration ladder finances audits, 24/7 ops, and corridor incentives; the user doesn’t get “interest,” but the product remains solvent, scalable, and competitively priced. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> “US states are launching stablecoins” and why most won’t matter </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Wyoming</span> just launched <strong>FRNT</strong>, a state-issued, fully reserved USD stable token with statutory over-collateralization. That’s serious public-sector experimentation; but it’s designed for <strong>state cash management and public-sector rails,</strong> not global liquidity. Don’t expect CEX/DEX depth or global MM support out of the gate. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Texas</span> floated a <strong>gold-backed digital currency</strong> (HB4903); it <strong>didn’t pass.</strong> <span style="font-weight:bold; color:#000000;">Utah</span> pursued a <strong>precious-metals payment platform,</strong> which <strong>hit a veto.</strong> The direction of travel is interesting, but these are <strong>local, policy-driven</strong> instruments with limited interoperability, not the cross-jurisdiction settlement assets I need for Zen. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Interoperability check:</span> If FRNT ever exposes institutional APIs, I can treat it as a funding source for Wyoming-linked payables; but I won’t route exchange or OTC volume through it unless it achieves global exchange listings and deep on-chain liquidity. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Gold tokens vs settlement:</span> A commodity-pegged instrument may be great for saving; it’s poor for <strong>instant netting</strong> across exchanges. I prioritize assets that clear in milliseconds on chains where our counterparties already operate. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> So what’s the play in Asia (and for Zen)? </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My thesis is right: <strong>the only viable non-USD stable</strong> in our region must combine a <strong>local peg + RWA yield engine + global rails.</strong> Here’s what could be a crisp execution plan for Zen’s stack: </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>1. Start where liquidity already is (USD), then localize.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Launch <strong>Zen-USD</strong> via a licensed issuer (HK/ADGM path), with multi-chain mint/burn and institutional redemptions. Use it to <strong>prime liquidity</strong> on CEX/DEX and in OTC corridors that already demand dollars. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; In parallel, stand up <strong>Zen-AED</strong> (or partner) with <strong>proper reserve governance.</strong> Until AED HQLA/tokenized instruments are abundant, structure reserves under local rules (prefer “same-currency” cash/T-bills equivalents where permitted) and keep FX/hedge risk close to zero. UAE’s CBDC/mBridge roadmap is a tailwind I can integrate with as it goes live. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Corridor bootstrapping:</span> Seed Zen-USD/USDT and Zen-USD/USDC pools on Base/Solana with MMs; once spreads stabilize, list Zen-AED/USDT on regional CEXs to unlock GCC payroll and B2B invoices. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">mBridge adjacency:</span> When UAE↔HK CBDC rails expand, I can offer instant FX netting: Zen-AED ↔ HKD settlement with atomic swaps, reducing nostro balances for trade clients. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>2. Separate stability from yield (by design).</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Keep the stablecoin <strong>non-interest-bearing</strong> to comply with regimes like MiCA/Singapore. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Create a <strong>separate, restricted-investor “Yield Note” (or MMF token)</strong> that securitizes the reserve yield (T-bills, repo, short-dated government paper, and, where rules allow, <strong>tokenized RWAs).</strong> The stablecoin stays par-redeemable; the <strong>yield stream</strong> finances operations and can be shared with qualified holders or the treasury. (MiCA’s interest prohibition is the key reason to split.) </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Two-track offer:</span> Corporates hold Zen-USD for payments; treasury desks of qualified institutions subscribe to the Yield Note backed by the same asset class profile: clean separation of utility vs return. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Duration control:</span> If redemptions spike, my AI treasury engine shortens WAM (Weighted Average Maturity) automatically; Yield Note investors see transparent ladder changes in their monthly report. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>3. Own the corridors, not just the coin.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Wire into <strong>SGD (XSGD)</strong> and <strong>PHP (PHPC)</strong> rails for <strong>SG↔UAE↔PH</strong> flows; list Zen-USD/Zen-AED pairs against XSGD/PHPC and seed AMMs plus MM quotes. This is where treasurers and exchanges feel real value. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">SG payroll hub:</span> A Singapore SaaS exporter bills UAE clients in Zen-USD, pays devs in PH via PHPC, and takes profit in XSGD. I run the conversion stack and guarantee T+0 across all three legs. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Broker connectivity:</span> FX brokers plug our SDK for after-hours settlement; their clients stop waiting for correspondent banks. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>4. AI-driven treasury + compliance.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Treasury AI:</span> predict redemptions, ladder maturities, and automate chain-by-chain liquidity (Tron/Solana/Base/Ethereum) in real time. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Risk/AML AI:</span> velocity, clustering, and anomaly scoring across issuers, exchanges, and on/off-ramps, sub-200 ms to keep fraud and sanctions risk near zero (aligned with HKMA/ADGM/VARA expectations). </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Chain liquidity autopilot:</span> If Solana pools run hot, my system shuttles inventory from Tron and tops up MM wallets pre-emptively, keeping spreads stable without manual ops. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Real-time gating:</span> Sudden wash-trade patterns trigger step-up KYC/Source-of-Funds, with automated notices to counterparties; legitimate flow continues uninterrupted. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>5. Distribution &gt; everything.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">OTC:</span> Offer atomic swaps and T+0 settlement to MMs/exchanges; pre-fund nodes in key hubs (Dubai, Singapore, HK). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">Merchant/API:</span> SDKs for PSPs, FX brokers, payroll/treasury SaaS; pass-through stablecoin rails under their brands. </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <span style="font-weight:bold; color:#000000;">DeFi liquidity:</span> Deep pools on top three chains of each coin; programmatic inventory managed by the treasury AI. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Pre-funded hubs:</span> I keep hot buffers in Dubai/Singapore so counterparties never wait on fiat wires; settlement SLAs become our competitive moat. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">White-label rails:</span> A PSP integrates our API; their merchants “use” stablecoin rails without even knowing, chargebacks drop, reconciliation improves. </p> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>6. Governance and disclosures that out-compete trust.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; <strong>Daily reserve snapshots, weekly attestation, monthly full breakdown</strong> (chain, bank, instrument, duration). </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Immutable on-chain mint/burn + proof-of-reserves anchors. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Transparency page:</span> A public dashboard shows per-chain supply, bank exposures, and WAM updated daily; counterparties can verify mint/burn proofs on-chain. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Attestor rotation:</span> I rotate audit firms for quarterly deep-dives to avoid single-advisor capture. </p> <span style="font-family:Symbol; font-size:12pt; color:#000000;"></span>&nbsp; <strong>7. Cost realism.</strong> </p> <p style="font-size:12pt; margin:0 0 0px 40px; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">○</span>&nbsp; Between licensing, capital, audits, cyber, 24/7 ops, and multi-jurisdiction legal, assume <strong>tens of millions</strong> in setup/first-year burn (HK and MiCA are not cheap). Treat the <strong>float’s net yield</strong> as the core P&amp;L engine, not marketing spend. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">P&amp;L discipline:</span> I budget reserve yield first for compliance, security, and liquidity incentives; only residual funds go to growth. This keeps the product solvent through market cycles. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Staged rollout:</span> HK + ADGM first; once disclosures and liquidity hit targets, I expand to one additional corridor per quarter. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Why the UAE can actually win (and why I should lean in) </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <strong>CBDC adjacency + mBridge</strong> means I can eventually clear <strong>x-border in central bank money</strong> and still run <strong>commercial stablecoin rails</strong> for everywhere else. That combination plus the region’s dollar pegs and trade links is uniquely smart. The <strong>legal-tender</strong> status and staged rollout signal long-term commitment. </p> <h2 style="font-size:14pt; font-style:italic; margin-top:18pt; margin-bottom:6pt; color:#000000;"> Practical examples &amp; Zen use cases: </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Trade finance shortcut:</span> A Sharjah importer settles with a Hong Kong supplier using mBridge rails for CBDC finality, while I provide Zen-USD liquidity for hedging and just-in-time working capital. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; <span style="font-weight:bold; color:#000000;">Treasury optimization:</span> Government-linked entities move to CBDC for domestic cash ops; I handle cross-border edges where CBDC corridors aren’t yet live. </p> <p style="font-size:13pt; margin:0; text-align:justify; color:#000000;"> <strong>So strategically:</strong> </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; CBDC adjacency + mBridge = regulatory legitimacy + ultimate settlement finality in cross-border corridors. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; Stablecoin rails = global liquidity + retail and institutional access + yield on reserves. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> <span style="font-family:Symbol; font-size:12pt; color:#000000;">•</span>&nbsp; I get the best of both worlds: settle big institutional FX/wholesale flows on mBridge, run commercial payments, gaming, remittances, and DeFi on stablecoins. </p> <h2 style="font-size:18pt; font-weight:bold; margin-top:18pt; margin-bottom:6pt; color:#0f4761;"> Bottom line </h2> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> If I build it, I’m not building a stunt; I’m building a capital-markets product. The coin must clear instantly across borders, redeem reliably, and monetize float within rights-respecting rules. Anything else is charity with other people’s money. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My sequence: <strong>own USD rails → localize</strong> (say, AED) → <strong>own the corridors,</strong> with AI as the operating system. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> A stablecoin that <strong>doesn’t</strong> monetize float, <strong>doesn’t</strong> ride the deepest liquidity rails, and <strong>can’t</strong> deliver instant cross-border finality is a charity project, not a business. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My play is to <strong>own the corridors</strong> (USD first, AED next), <strong>separate yield from par,</strong> and use <strong>AI + ruthless disclosure</strong> to make our rails the rational choice for traders, treasurers, and MMs. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> Markets reward reality, not rhetoric. I am not building charity or spectacle. I am building rails that clear value at the speed of thought and settle claims under rights-respecting rules. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> My standard is profit earned by reason, my method is transparency enforced by code, my aim is long-range control of the corridors that matter. Keep the yield separate from the peg, keep redemption sacred, keep governance visible. </p> <p style="font-size:12pt; margin:0; text-align:justify; color:#000000;"> That is how we win: by treating money as an achievement and refusing to fake the cost of it. </p> </body> </html>

By Aniket Warty

18 August 2025

9 Min Read

Owning the Rails: Why I’m Building Atlas Rail (ZenXRail) for a Permissionless Payments Future

I didn’t come to crypto to rent space on someone else’s network. I came to build. <div style="font-family: 'Aptos', Calibri; color:#000000;"> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Build products that don’t beg permission. Build rails that don’t discriminate. Build systems where value trades for value - and where the creators of value keep the fruits of their work.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">That is the core ethos behind ZenX and ZenPays - and now, <strong>Atlas Rail (ZenXRail):</strong> a payments-first rail designed to carry global, USD-stablecoin commerce at merchant scale. It’s the natural culmination of what we’ve already assembled: merchants through ZenPays, liquidity through ZenOTC, wallets and DeFi through ZenFinance, and exchange infrastructure through ZenX. The last missing piece is the rail itself - and we’re going to own it.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">The market is already telling us this is the right direction. Payments “giants” are migrating on-chain. Issuers are standing up their own networks. Banks are piloting programmable dollar rails. The message is simple: <strong>the moat is no longer a single product advantage - it’s owning the four layers at once: the merchant, the on/off-ramp, the wallet, and the rail.</strong> ZenX is already three-quarters of the way there; Atlas Rail completes the loop.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Why We’re Building a Rail (and Why Now)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"> Renting the rails makes you hostage to someone else’s rules. You inherit their costs, their data model, their risk policy, and eventually, their veto power over your business. That’s tolerable when you’re small or when your use case fits a platform’s “acceptable” profile. It becomes suffocating the moment you try to onboard cross-border, high-risk, or non-traditional merchants - the VERY entrepreneurs who build the most interesting businesses. </p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"> Atlas Rail exists to flip the default. Instead of “apply, wait, and hope,” we build rails that <strong style="font-weight:bold;">assume commercial freedom as the baseline</strong> and layer controls in a way that preserves property rights: your money, your data, your terms. This is not a rhetorical stance; it’s a practical one. If you want 24/7 global settle, chargeback-resistant instruments, sub-second authorizations, and programmable payout logic, you don’t get there by pleading with legacy networks. You get there by <strong style="font-weight:bold;">building a merchant-grade chain that speaks payments natively.</strong> </p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">The Four-Part Playbook (and How We Already Execute It)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>1) Own the merchants (ZenPays).</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">ZenPays is where merchants, especially those deemed “high-risk”, plug in. We give them a drop-in checkout, stablecoin acceptance, cards and local methods in one interface, and full-stack onboarding. We also support merchant-of-record structures and FBO-style sub-accounts for clean ledgers and auditability. Pricing is merchant-rational: basis points, not mystery fees; cheaper domestic stablecoin acceptance and sensible cross-border rates.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>2) Control the on/off-ramps (ZenOTC + banks).</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Our OTC desk already moves institutional size in USDT/USDC/BTC. We’ll formalize corridors (SWIFT, SEPA, UAE local rails) and maintain pooled treasury capacity so that businesses can sweep from stablecoin balances into local fiat - and back - without drama. Where it’s advantageous, a Cayman SPC structure gives us segregated portfolios for float and merchant advances.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>3) Control the wallets (ZenFinance).</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">On the business side, custodial wallets with role-based permissions, spend policies, and programmatic payouts. On the consumer side, embedded, recoverable, non-custodial wallets that “just work” with passkeys - no seed phrases at checkout. This is how we remove friction without removing sovereignty.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>4) Control the rails (Atlas Rail / ZenXRail).</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">The rail is the glue. We route ZenPays stablecoin traffic natively over Atlas Rail, net multi-order flows for fee savings, and only bridge at the edges when we must. That’s how we deliver card-like UX without card-like overhead.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Stablecoins Are Infrastructure, Not Theater</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">By 2030, 99% of stablecoin volume won’t be retail swipes at coffee shops or cross-border gimmicks. It will be institutional - professional traders, funds, and market makers rebalancing liquidity at scale.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Stablecoins aren’t here to “replace credit cards.” They already replace correspondent banking, slow wire transfers, and collateral bottlenecks. They’ve become the plumbing that allows capital to move instantly across markets and jurisdictions.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">The challenge ahead isn’t retail adoption. It’s engineering stablecoins for the systems where they’re already dominant: clearing, settlement, risk management, and liquidity transfer.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We stopped mistaking them for consumer apps. We started designing them as financial infrastructure. Because that’s what they are - the rails on which tomorrow’s markets are already running.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Atlas Rail: What It Is (and What It Isn’t)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Atlas Rail is a <strong>payments-first settlement rail with sub-second user experience</strong> and <strong>deterministic finality</strong> at merchant scale. The target user is a merchant or marketplace with thousands (or millions) of daily transactions, subscription billing, refunds, partial captures, and complex payout trees. The target instrument is the <strong>dollar</strong> - specifically USD stablecoins - because that’s what global commerce prefers today.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>The high-level goals are unambiguous:</strong></p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li>Sub-second to ~2s finality</li> <li>Fees under ~0.2¢ per transaction at scale</li> <li>Merchant-grade auth/capture/refund primitives</li> <li>Programmable compliance and payouts</li> <li>Native FX at the point of payment</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>Architecture:</strong> We’ll run Atlas Rail as a sovereign rollup that inherits Ethereum settlement, combining a production-ready stack (e.g., OP Stack + EigenDA) with a payments-optimized mempool. This gives us the best of both worlds: Ethereum-grade security and merchant-grade throughput, with a rapid time-to-market and predictable costs.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>Dollar-denominated gas from day one.</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"> Merchants should never worry about volatile fees. Atlas Rail uses USDC/USDT as gas, starting with USDC-as-gas and adding USDT-as-gas where demand requires. That keeps pricing intuitive and auditable - no FX surprises sneaking into your operational costs. </p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>A payments mempool, not a trader’s playground.</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"> We’ll set priority lanes for authorization/capture, recurring invoices, and subscription batches, and use batch auctions to minimize extractive MEV against retail flows. Payments have very different needs than trading; the rail should reflect that reality. </p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"><strong>Account abstraction for a “just works” checkout.</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;"> Passkeys, per-transaction spend limits, session keys, sponsored gas for first purchases: these are table stakes for mainstream commerce. We’ll ship them at the protocol edge, not as an afterthought in a dApp. </p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Merchant-Native Primitives (Built In, Not Bolted On)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Card networks weren’t built for crypto; most chains weren’t built for merchants. Atlas Rail closes that gap with primitives that mirror what merchants actually do:</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>Auth/Capture on-chain.</strong> Pre-authorize the amount at checkout, <strong>capture</strong> on fulfillment, support partial captures, voids, and refunds. That’s the language of commerce; and it belongs on-chain if we expect merchants to switch.</li> <li><strong>Atomic FX at checkout.</strong> If the buyer’s wallet holds non-USD assets, swap into the merchant’s chosen settlement currency (USD/EUR/AED) <strong>in one transaction,</strong> using liquidity from ZenFinance or whitelisted venues.</li> <li><strong>Instant payouts.</strong> Program T+0 or instant payout policies to FBO sub-accounts or external bank rails so CFOs control treasury risk in real time.</li> <li><strong>Risk hooks at block inclusion.</strong> Fraud and velocity checks become <strong>preconditions</strong> for inclusion in a block, not just post-facto analytics. That means fewer bad transactions and cleaner ledgers.</li> </ul> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Data &amp; Compliance: Property Rights Come First</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Our stance is simple: <strong>your data is your property.</strong> Atlas Rail encodes that principle:</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>Merchant Data Property Rights.</strong> Zen licenses data for service delivery; we don’t “own” it. Default is <strong>opt-out</strong> from cross-merchant profiling.</li> <li><strong>Selective-disclosure credentials.</strong> Users and businesses can <strong>prove</strong> KYC/AML status without leaking everything, using verifiable credentials and proofs (PoKYC). That makes compliance programmable and privacy-preserving.</li> <li><strong>Travel Rule, correctly scoped.</strong> Trigger it only where the law actually applies (VASP↔VASP), not for peer-to-peer transactions where it doesn’t.</li> <li><strong>Jurisdiction stack by design.</strong> UAE (VARA/ADGM) for VASP/payment-token permissions and Travel Rule gateways; Cayman SPC for treasury and segregated risk; EU via partner EMI; US via sponsor or state coverage with stablecoin-compliant regimes as they formalize.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">This is compliance with integrity, NOT censorship disguised as safety.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">No Speculative Chain Token. No Rent-Seeking.</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Atlas Rail won’t ask you to hold a volatile governance token to use the network. <strong>Fees are paid in USD stablecoins,</strong> and we’ll publish a transparent basis-points schedule for payment flows. For high-volume merchants, <strong>fee credits</strong> act like transferable coupons; which are useful for planning, not a backdoor security. We’ll also <strong>rebate a portion of order-flow value</strong> back to top merchants to neutralize MEV incentives against payments. Governance is pragmatic: merchants and validators set technical parameters; one-merchant-one-seat on payment policy; stake-weighted for infrastructure scope.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We’re not here to extract rent from the very businesses we claim to empower.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Targets, Not Hype</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We’ll measure ourselves like a payments network, not a meme coin.</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>Throughput:</strong> bursts of 5-10k TPS with p95 finality ≤2s and p95 fees ≤$0.002.</li> <li><strong>Reliability:</strong> 99.99% uptime; fraud losses ≤4 bps on stablecoin transactions.</li> <li><strong>Year-one operating KPIs:</strong> 1k merchants live (200 enterprise, 800 SMB), $0.6–0.8B GPV routed over Atlas Rail, ~38 bps blended take rate, >85% cohort retention at Q+2, and ≥35% reduction in on-chain transactions via netting (versus naïve per-order settle).</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">These aren’t slogans. They are engineering and go-to-market constraints that focus execution.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">The Build Plan (18 Months to Scale)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">A plan isn’t a wish list; it’s a schedule of commitments.</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>Phase 0 (now through Oct 2025):</strong> finalize architecture (OP Stack + EigenDA as primary), confirm USDC/USDT-as-gas with issuers, lock three payout banks across UAE/EU/US, and pilot auth/capture with three design partners in high-risk categories.</li> <li><strong>Phase 1 (Nov 2025–Feb 2026):</strong> bring up the <strong>ZR-1</strong> testnet (working name), ship ZenPays v2 SDKs across web/iOS/Android with stablecoin + cards, and stand up the compliance gateway (Travel Rule provider integration).</li> <li><strong>Phase 2 (Mar–Jun 2026):</strong> Mainnet-A for enterprise: gate-launch with 50 enterprises, instant payouts via FBOs, cross-border corridors UAE↔EU↔US, atomic FX through ZenFinance pools, and production circuit breakers.</li> <li><strong>Phase 3 (Jul–Nov 2026):</strong> Mainnet-B for scale: open onboarding, fee-credit programs, ISV partnerships, and deposit-token interop with a global bank when viable. Team size ~45 across protocol, devex, payments, risk/AI, SRE, and compliance; total 18-month spend estimated at $18–28M.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We will ship where the value is greatest first: high-risk, cross-border merchants who are priced out - or shut out - by legacy rails.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">High-Risk Is Not a Dirty Word</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">“High-risk” in legacy payments is often a euphemism for <strong>non-conforming</strong>: adult creators operating legally in their jurisdictions, gaming platforms with global user bases, nutraceutical sellers that fail an opaque underwriting script, crypto-native businesses that don’t fit a bank’s political risk profile. These are not bad actors by default; they are simply builders who don’t fit a decades-old box.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Atlas Rail exists for them:</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li>Frictionless onboarding through ZenPays with KYC that respects the business model and jurisdictional reality; not a box-checking pantomime.</li> <li>Predictable acceptance with low, stable fees tied to objective risk controls, not arbitrary flags.</li> <li>Refunds and chargebacks handled on-chain where possible, with auditable logic instead of support-queue roulette.</li> <li>Instant settlement into stablecoins or fiat corridors so working capital turns faster, and growth compounds sooner.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">This is not about “inclusion” as charity. It’s about <strong>recognition</strong>: if you create value and operate lawfully, the rail should carry your commerce. Period.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Risk, Acknowledged and Engineered</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We’re not naïve about risks. We’re explicit about them; and the mitigations.</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>Regulatory drift.</strong> We keep the network focused on <strong>stablecoin-as-gas</strong> and avoid launching a native volatile token. For fiat interfaces, we use EMI/sponsor coverage where appropriate and design for <strong>modular compliance</strong> so rules can be applied where they legally apply and nowhere else.</li> <li><strong>Liquidity crunch.</strong> We pre-fund corridors, maintain OTC lines, and implement circuit breakers on FX to protect merchants during stress.</li> <li><strong>MEV/latency attacks.</strong> We run private order-flow lanes for payments and batch auctions to neutralize timing games.</li> <li><strong>Adoption friction.</strong> We deliver card-like features (auth/capture, refunds), fiat settlement by default where required, and <strong>zero-code</strong> installs for mainstream merchants.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Risk management is not moral theater for us. It’s engineering.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">What Makes Us Different (Reality in Practice)</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">Reality isn’t a sticker on our deck. It’s the operating system.</p> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li><strong>No rent extraction.</strong> We charge transparently for real services rendered. If we create more value per basis point, we win. If not, we deserve to lose.</li> <li><strong>No moral claims; only performance.</strong> Cheaper, faster, programmable settlement that respects property rights in <strong>money and data</strong> - or we don’t ship it.</li> <li><strong>Open competition.</strong> We interoperate where it benefits merchants; we compete where we can deliver a better outcome. There’s no entitlement to your traffic: only the obligation to earn it.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">That’s what “value for value” means when the rubber meets the road.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">Naming the Future</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">We’ll ship under <strong>Atlas Rail (ZenXRail)</strong> - a silent, respectful nod to the builders who keep the world moving and to the network that will carry their commerce. Alternatives like <strong>ZenRail</strong> and <strong>ZenNet</strong> are on the table, but for now, Atlas captures the intent: <strong>bear the load of global commerce without asking for permission.</strong></p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">What Success Looks Like</h2> <ul style="color:#000000; font-size:18px; margin:0 0 20px 20px;"> <li>A creator in Manila, a prop-house in Lagos, and a luxury developer in Dubai can all <strong>settle in USD stablecoins with sub-second UX,</strong> pay cents (not dollars) in fees, and <strong>receive programmable payouts</strong> to their ledger or bank corridor on their schedule.</li> <li>A marketplace can pre-authorize at checkout, fulfill later, partially capture, and <strong>refund</strong> without touching a centralized dispute oracle. It’s <strong>commerce logic, on-chain.</strong></li> <li>CFOs can set <strong>T+0 settlement,</strong> with atomic FX into their preferred currency, and run a clean, real-time cash view.</li> <li>Compliance teams can prove what the law requires and <strong>nothing more,</strong> using selective-disclosure credentials; Travel Rule triggers only where it legally applies.</li> <li>Merchants see <strong>transparent pricing</strong> and <strong>MEV rebates</strong> where appropriate. No hidden tolls. No back-door rent.</li> </ul> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">At that point, we’re not “doing crypto payments.” We’re <strong>operating a global settlement network</strong> that treats entrepreneurs as adults and their businesses as worthy of respect.</p> <h2 style="color:#0f4761; font-size:24px; margin:10px 0 6px 0;">The Pledge</h2> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">I’m building Atlas Rail for the same reason I started in crypto a few months ago: because a free person has the right to trade the values they create, with whom they choose, on terms they choose. Because <strong>sovereignty without practical tools is theater</strong>, and tools without a moral center end up serving the censor, not the creator.</p> <p style="color:#000000; font-size:16px; margin:0 0 6px 0;">ZenPays, ZenOTC, ZenFinance, and ZenX gave us the pieces. Atlas Rail connects them into a self-contained, merchant-grade loop that doesn’t ask for permission to exist. The world is moving toward rails that are <strong>programmable, dollar-denominated, and always-on.</strong> We will not ask to borrow them. We will build them; and we will do it in a way that honors the only ethic worthy of builders: <strong>value for value.</strong></p> <p style="color:#000000; font-size:16px; margin:0 0 0 0;">If you move money, you’ll be competing on these rails.</p> <p style="color:#000000; font-size:16px; margin:0 0 3px 0;">I intend to build the ones you’ll want to run on.</p> </div>

By Aniket Warty

16 August 2025

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