Interview with Pendulum

‘Would you please introduce yourself and tell us how did you end up in the blockchain industry? what is your story?’

That goes back quite a while! I first heard about Bitcoin from a friend who sent me a link, explaining that it was a payment system without banks. I was living in Berlin at the time — still do — which was a big advantage because I could experiment firsthand.

My first test was figuring out if I could buy Bitcoin and actually use it for payments. Back then, there was a place in Kreuzberg where you could pay for beer, pizza, and burgers with Bitcoin. It was fascinating! I bought some Bitcoin through a private transaction, trusting someone in Holland, and then used it to pay — no bank, no third party, just my phone. That moment was eye-opening.

I realized there was a decentralized system where no single admin controlled everything. That curiosity led me to explore further, read more, and, by 2016, start working in the blockchain space. It was an exciting journey.

One thing I’ve learned is that once you dive into this world, you start questioning fundamental things: How does money actually work? How does it move? What is money? These are big, important questions — especially in today’s world.

‘How would you explain your project to your grandmother?’

‘When was the first moment that the idea of Pendulum came into your mind? why?’

It wasn’t a single “aha” moment — it evolved over time. With Satoshi Pay, which started in 2014, we built a payment system on Bitcoin. From the beginning, we aimed to create something for the mass market, not just a niche audience.

Talking to everyday users, we realized they didn’t want to deal with volatile crypto assets. They wanted stablecoins — euros or dollars on the blockchain. This was clear to us as early as 2016–2017. Before the world fully adopts crypto payments, stablecoins will bridge the gap, offering the same benefits as Bitcoin but with price stability.

We initially built a micropayment platform for publishers, which was well received — especially by publishers who enjoyed instant, global payments with no fees. That led us to focus on B2B payments with stablecoins. However, we encountered infrastructure gaps.

At the time, we used the Stellar blockchain, which had stablecoins but lacked smart contracts. By 2020–2021, we saw that existing solutions weren’t enough. We kept waiting for third-party infrastructure and stablecoin issuers, making us too dependent on external providers. That’s when we decided to build Pendulum — an infrastructure layer linking stablecoins to fiat systems, with smart contracts and interoperability at its core.

‘What problem is Pendulum solving?’

Pendulum brings local, non-USD stablecoins onto a smart contract platform. Right now, USDT and USDC dominate, but if you want a euro-backed stablecoin or something for Brazil, Argentina, or Mexico, the infrastructure is lacking.

These stablecoins aren’t widely listed, have low liquidity, and are expensive to swap. Pendulum solves this by creating an efficient on-chain forex system.

We built a decentralized exchange (DEX) that uses oracles to provide fair exchange rates, even with limited liquidity. We also connect to other chains, including Stellar, to leverage their stablecoin ecosystem. Since Pendulum is built on Polkadot, we benefit from its interoperability, linking with bridges like Axelar and HyperBridge.

This means we can connect users on Ethereum, Polygon, Solana, and other blockchains to fiat networks through local stablecoins, making cross-border transactions cheaper and more efficient.

‘Would you mention some of the recent updates, partnerships, and advancements?’

Yes! Today, we announced a major Web3 grant that supports Pendulum’s ecosystem, particularly Vortex Finance — a key application built on Pendulum.

Vortex Finance provides a seamless crypto-to-fiat ramp. Let’s say you want to off-ramp USDC from Base without using a centralized exchange with high fees and long processing times. With Vortex, you simply sign two transactions, complete KYC once, and the money lands in your euro bank account within minutes — all for just a 0.25% fee.

Right now, we’re launching this in the Eurozone and expanding into Latin America, where remittance fees are extremely high. By bringing forex on-chain, we eliminate unnecessary fees and improve efficiency.

‘Can you name some of your competitors? What makes your project stand out among your competitors?’

There are competitors in local markets and globally, including ramp providers like MoonPay and Transak. However, most still rely on old financial infrastructure.

Our advantage is that we remove traditional currency exchanges and instead use an on-chain DEX, making transactions more efficient and transparent.

Additionally, DeFi participants can contribute liquidity and earn yield, which traditional systems don’t offer. Many wallets are integrating Vortex because they want to offer users a fair, cost-effective way to transfer assets. Transparency is key — users should always see exactly how much they receive, which makes Pendulum stand out.

‘What is your message to the people who have not invested in the blockchain industry yet?’

It depends on why they’re hesitant. If they’re worried about security, complexity, or volatility, I’d encourage them to explore with small amounts — just enough to see how it works.

Blockchain enables secure, automated transactions without third-party control. The best way to understand that is to experience it firsthand. People already trust machines for everyday tasks — why not money transfers? While early blockchain systems had security issues, the space has matured rapidly.

So my advice? Give it a try. See how it works. You might discover new opportunities.