Niklas talks with Sean Pawley, CEO and Founder of Seshat Bank and Rasheed Griffith, COO and Chief Compliance Officer of Merkle Hedge.
Sean has founded an API-first commercial bank for Latin America. He talks about his journey from East Africa to Central America, and how he uses the novel regulatory regime on Prospera Honduras to innovate in key areas for banking.
Notably, he talks about the "Pawnbroker for All Seasons" model to risk management pioneered by Mervyn King (ex. Governor of the Bank of England) as an improvement over the "Lender of Last Resort" Model.
Rasheed and Sean walk us through the most important international financial regulations such as AML-KYC laws, the Foreign Corrupt Practices Act (FCPA) and Securities Laws. These are key for finance entrepreneurs to understand when starting a new company.
We learn how regulatory practice is often detached from material effectiveness, and how political incentives often lead to bad regulation. Better regulations, however, are needed for some key financial innovations to flourish.
Rasheed, Sean and Niklas believe startup cities like Prospera Honduras can be the innovation needed to provide more innovation-friendly regulations.
Join us on May 5-7 the Caribbean island of Roatan for a summit in Prospera and help us build a more decentralized financial system: https://infinitafund.com/defi2023
For more information about Infinita, check this Linktree: https://linktr.ee/infinitavc
Ep. 1: Navigating the Regulatory Maze of International Finance, Banking in Emerging Markets and Crypto in Special Jurisdictions w/ Sean Pawley & Rasheed Griffith