The latest Hack Seasons Conference in Singapore, held on October 2nd, gathered industry leaders across cryptocurrency, Web3, AI, and DePINs to explore the latest trends and innovations in the space. Among the participants, Reeve Collins, founder of the blockchain-based financial ecosystem WeFi, shared insights on the project’s progress, current developments in the industry, and his vision for the future of decentralized finance.
Reeve Collins explained that WeFi is pioneering the concept of a Web3 bank, combining traditional banking products with blockchain-based financial services. “What excites me most is bringing a community-first approach to market,” he said. “WeFi delivers the promise of Web3: the network and its users create value, and that value is returned to them. Through WeFi, users gain access to high-yield savings accounts, DeFi investments, and seamless integration between fiat and crypto, all while earning rewards in our native WEFI token.”
The WEFI token acts as the network’s reward mechanism. Users earn tokens by participating in the ecosystem through staking or network activity, while a portion of network fees is reinvested into the token through innovative mechanisms such as buybacks. “The Web3 promise is simple: if you participate, you benefit,” Reeve Collins emphasized. “We’re focused on bringing banking services to people who are traditionally underserved.”
Central to WeFi’s strategy is the concept of “deobanks,” which Reeve Collins describes as the next evolution of banking. “Traditional banks operate physically, neobanks are digital but still rely on legacy systems, and deobanks are fully on-chain,” he explained. “By using blockchain rails, we can merge fiat, crypto, and stablecoins into a single, seamless experience. Users won’t care about the underlying mechanics—they’ll care about what transactions they can perform and the benefits they receive.”
WeFi has also launched STBL.com, a stablecoin platform Reeve Collins calls “Stablecoin 2.0.” Unlike existing stablecoins that largely mimic Tether, this model allows users to mint stablecoins by backing on-chain treasuries, earning yield directly from their contributions. “The value creators are the beneficiaries,” he said. “All operations are fully transparent on-chain, removing the need for centralized oversight while remaining fully verifiable and compliant.”
When asked about balancing regulation with transparency, Reeve Collins highlighted the advantages of blockchain-based systems. “With STBL, every interaction and reserve is on-chain and verifiable. Regulators can easily audit and ensure circulation matches the reserves, making it one of the most transparent stablecoin infrastructures available.”
Reeve Collins also touched on Reserve1, another project where he serves as chairman. The platform is a digital asset treasury backed by a diversified portfolio of crypto assets, including Bitcoin and altcoins, with $1 billion raised to take the company public. “Reserve1 gives individuals and institutions access to high-quality crypto exposure within a traditional investment framework,” he said.
Looking forward, Reeve Collins envisions a future where stablecoins evolve into public infrastructure. “Currently, centralized entities control stablecoins, but the goal is for the public to benefit directly,” he explained. “With platforms like USST, anyone contributing to the ecosystem can participate in minting and reap the rewards, ensuring the system benefits the community rather than a centralized organization.”
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