Exploring the Irrational Realm of Cryptocurrency with CEO Michael Stroev of Venga (Interview during Paris Blockchain Week)
Crypto Simplified: Venga Tackles Mass Adoption Barriers at Paris Blockchain Week 2025
Get ready to dig into the dynamic world of digital finance as we dive deep into Venga's strategies for breaking down the barriers preventing the masses from fully embracing cryptocurrencies and DeFi!
Bringing Crypto Within Reach
With its official launch in September 2024, Venga stepped into the scene to provide a more manageable entry point into the crypto realm. As Michael Stroev, Venga's CEO, explains, the platform empowers users to deposit euros, purchase cryptocurrencies, and withdraw their digital assets to a decentralized wallet or keep them within Venga's own ecosystem for added services.
"Our mission is to bring the innovations from DeFi, formerly Web3, to the masses," Stroev shared. Notably, they prioritize promoting decentralized technologies, rather than mimicking traditional financial products, which typically require a complex maze of steps.
Despite the provision of basic services like fiat deposits and withdrawals, traditional finance elements are secondary at Venga. Instead, they are primarily focused on pushing the frontier of Web3 and DeFi innovation. "We're very much on the innovation up on the Web3 and DeFi side," Stroev highlights, hinting at future fintech-related products that could join the roster.
Navigating the Realm of Knowledge and Discovery
In Stroev's opinion, challenges such as education and discovery continue to pose significant roadblocks to widespread crypto adoption. While the public may have heard of assets like Bitcoin or Ethereum, many remain unfamiliar with the broader potential of Web3.
"Education is a critical roadblock to entry in the space," Stroev states. Venga aspires to provide a platform where users can discover reliable projects, creating an easier on-ramp into the DeFi world, and enabling smoother education thereafter.
Currently, discovering trustworthy projects is a laborious, time-consuming process, often requiring attendance at events like Paris Blockchain Week or in-depth research across multiple social media platforms. "We want to vet all these projects for people," Stroev explains, framing Venga as a potential marketplace for trustworthy Web3 and DeFi projects that can simplify the user experience.
Leveraging Opportunities Amid Market Challenges
Despite launching during a turbulent period for the crypto industry, Stroev maintains an optimistic outlook. As the platform was still in a preliminary stage upon its launch, offering limited products, it is now well-prepared to compete and grow with a full Minimum Viable Product (MVP) available.
"We're at the very starting point of our hyperparabolic curve," Stroev suggests, hinting at a host of new products being lined up for 2025.
When asked about the impact of market downturns, Stroev recalls his initial panic during events like the collapse of Terra Luna and the fall of FTX. However, he is now less concerned, attributing current market conditions mainly to evolving US policies. As future legislation, such as a stablecoin bill, develops, it may drive significant positive change, according to Stroev.
In the end, Venga views its development as a long-term venture, regardless of short-term market volatility. Hang on tight as this digital finance juggernaut gears up to revolutionize the DeFi space!
This interview was produced in partnership with Paris Blockchain Week 2025.
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- Venga, a platform launched in September 2024, aims to simplify the entry into the world of cryptocurrencies and DeFi by providing an easy on-ramp for users to deposit, purchase, and withdraw digital assets.
- Michael Stroev, Venga's CEO, emphasizes their mission to bring DeFi innovations to the masses and prioritize promoting decentralized technologies over traditional financial products.
- In order to boost crypto adoption, Venga aims to create a platform where users can discover trustworthy projects, enabling smoother education and a better user experience.
- Despite launching during a challenging period for the crypto industry, Venga is optimistic about its future and plans to introduce new products in 2025.
- Venga views education as a critical roadblock to wider crypto adoption, as many people are unfamiliar with the broader potential of Web3 and DeFi.
- While the crypto landscape is currently experiencing some turmoil due to US policy developments, Venga believes that future legislation, such as a stablecoin bill, could drive significant positive change.
- As DeFi innovations continue to revolutionize the digital finance space, consider joining platforms like Venga, Binance, or byBit to stay ahead and reap the benefits of these groundbreaking technologies.
