Luc

Luc

Bridging traditional finance and digital assets, I’m a senior investment executive with 20+ years in asset management, fintech, and government advisory.

Two Consulting Firms, One Verdict: Stablecoin Payments Are Tiny but Growing Where It Hurts — Not much left once you've peeled back the layers; but that's the savory bite.

Two Consulting Firms, One Verdict: Stablecoin Payments Are Tiny but Growing Where It Hurts

BCG and McKinsey independently stripped stablecoin volumes to actual payments. Both landed near $390 billion — about 7% of the $62 trillion in gross transfers. Real market, real growth, but not the revolution the headlines suggest.

Luc • Stablecoin

On-chain credit is quietly rebuilding the fixed-income stack - starting with cash-like products — My dog, Aubrie, illustrates the "Golden Retriever Principle": In finance as in training, the most docile instruments tend to be adopted first.

On-chain credit is quietly rebuilding the fixed-income stack - starting with cash-like products

On-chain credit is quietly rebuilding parts of the fixed-income stack, starting with cash-like, short-duration products. This note explores why tokenization is moving from infrastructure experiments to institutional balance sheets—and why private credit and payments-linked assets may benefit most.

Luc • On-chain finance

Loan-Based Credit vs Claim-Based Finance: Are You Funding Borrowers or Funding Flows? — Two very different risk exposures under the same 'private credit' tag

Loan-Based Credit vs Claim-Based Finance: Are You Funding Borrowers or Funding Flows?

Private credit is often treated as one monolithic asset class — but not all “credit” is the same. This article draws the line between loan-based credit and claim-based finance, and shows why distinguishing borrowers from flows changes how you underwrite risk, liquidity, and return.

Luc • Private Credit

Private Credit in Asia 2.0

Private Credit in Asia 2.0

ACC’s Private Credit in Asia 2.0 maps how APAC private credit AUM is set to grow from US$59bn in 2024 to US$92bn by 2027, a 16% CAGR from a still-nascent base. The report tracks investor demand, wealth-channel growth and regulatory complexity across more than 50 markets.

In baseball, as in cross-border payments, it’s not just speed—it’s getting it to the right hands.

From “Limited Benefits” to Holy Grail of Cross-Border Payment? Stablecoins in 2025

Stablecoins grew from $20 B to $312 B, moving $27 T a year—but their real test isn’t speed, it’s settlement. Luc Froehlich explains why liquidity, FX, and payout coordination are now the true frontiers of cross-border payments.

Luc • Payments

The Stable Door Opens: How Tokenized Cash Enables Next-Gen Payments

The Stable Door Opens: How Tokenized Cash Enables Next-Gen Payments

McKinsey’s The Stable Door Opens (2025) explores how tokenized cash and stablecoins are redefining payments. With USD 27 trillion in annual transactions and regulatory green lights, the era of programmable money is accelerating.