YC x Coinbase RFS: Build Onchain

This Y Combinator and Coinbase Request for Startups (RFS) identifies the transition from traditional fintech to "Fintech 3.0" - a new financial system built entirely onchain. The key challenge addressed is that while blockchain infrastructure has matured with low-cost chains, stablecoins, and user-friendly wallets, regulatory uncertainty has prevented widespread adoption of onchain financial applications in the US.

The strategy focuses on three main areas of opportunity following recent regulatory clarity: stablecoins for instant global payments, tokenization of real-world assets for broader accessibility, and onchain apps/AI agents with native wallet integration. The approach leverages stablecoins' proven success (trillions in transaction volume) as a foundation, then expands to tokenize traditionally illiquid assets like real estate, startup equity, and loans. Examples include YC alumni processing millions in payments across Latin America and companies like Courtyard tokenizing physical collectibles.

Early results show strong market validation, with stablecoin market cap growing $30+ billion since the GENIUS Act and major retailers expressing interest in launching their own stablecoins. Companies like El Dorado have processed $200M for nearly 1M users, demonstrating real demand.

**Key takeaways for PMs:** Focus on regulatory-compliant onchain financial products, prioritize stablecoin integration for instant settlements and reduced fees, consider tokenization to unlock liquidity in traditionally illiquid assets, and explore AI agents with wallet functionality for enhanced user experiences in the emerging onchain economy.