Finscale in English

Hosted by Solenne Niedercorn

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137

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Oct 2026

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About the show

Every week, Solenne Niedercorn-Desouches gives a voice to the leaders shaping European finance - with humanity. Every week, Solenne meets the decision-makers transforming European finance: founders, leaders, investors, and regulators, for technical and rigorous conversations. Wealthtech, private markets, AI, regulation, governance: what is truly at stake, told by those who live it. 375+ bilingual episodes since 2020. One episode every week Top 200 Business Podcasts Apple Podcasts France. From Within by Finscale Finance is being transformed from the outside. "From Within" explores what is changing from the inside. A spin-off podcast from Finscale focusing on the human and cultural dimensions of transformation: that of leaders and that of organizations. Because 88% of transformations fail. Not for a lack of strategy, but for a lack of inner grounding. All our services : https://finscale.media Credentials music: Sneaky Snitch Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0 Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

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60 recent

October 17, 202631 min

#67 - JB Graftieaux (Coinbase) - Crypto after MiCA: regulated, consolidated, decentralised

In this episode, I welcome JB Graftieaux , CEO of Coinbase Europe | MiCA & EMI Entity, for a discussion on crypto regulation in Europe, from the MiCA licence to the products Coinbase can offer under the licences it holds. We talked about: The end of the national patchwork: before MiCA, a crypto player needed a local registration in each country, in Spain, Italy or France, and a portfolio of six, eight or twelve registrations was very expensive and very complex to maintain. With one licence, it can now operate in every EU member state and passport its activity everywhere in the EU, like a bank or a payment service provider. The white-label solution for banks and payment providers: they integrate Coinbase's custody, liquidity and portfolio of assets into their own app, they take care of the distribution, and Coinbase takes care of the tech aspect. Why Luxembourg: a country that has supported crypto for more than 12 years and, according to him, gave the first licence to a crypto player in Europe in 2016, where Coinbase set up its EU headquarter, received its MiCA licence last year and an Electronic Money Institution licence earlier this year. - The estimate, which he says he cannot give exactly, that between 1,000 and 3,000 crypto companies will not secure the MiCA licence while more than 200 are still applying, and the consolidation he expects as consumers look for regulated actors. The share of trading that already goes through self-hosted wallets and decentralized protocols: 20 to 25% today, against a couple of percent four or five years ago, alongside the regulated and centralized account Coinbase offers. The Everything Exchange, one access to crypto, equity, derivatives and prediction markets, and a rollout set by licences: the product is ready in the US, while elsewhere Coinbase offers what its licences allow, equity in the UK and derivatives from Cyprus, where it holds a MiFID licence, with spot margin announced for the next couple of months. The five-year outlook: a MiCA 2 expected in three or five years, he does not know which, stablecoin settlement still dominated by the dollar, probably more than 90%, and DeFi, which he can imagine reaching 50 to 60% of the market in five to ten years. An open exchange on what regulation changes for a crypto platform in Europe, from the MiCA licence to the products it can offer, and on what could come next. JB's recommendation: "The Promise of Bitcoin", by Bobby Lee Useful links JB Graftieaux: https://www.linkedin.com/in/jb0001/ Coinbase: http://www.coinbase.com Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

October 14, 20264 min

[EXCERPT] JB Graftieaux (Coinbase) - Crypto after MiCA: regulated, consolidated, decentralised

This is an excerpt of Solenne's conversation with JB Graftieaux, CEO de Coinbase Europe | MiCA & EMI Entity Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

May 16, 202633 min

#66 - Raphaëlle d'Ornano - Behind Decoding Discontinuity

In this episode, I welcome Raphaëlle d'Ornano , founder of Decoding Discontinuity , both an advisory firm and an investment fund, for a conversation about agentic AI, architectural resilience, and what it really means to invest in a world where business models are being fundamentally rewritten. We talked about: Orchestration as the real competitive moat of AI labs: why only 11% of enterprise builders switched AI providers last year despite the switch being technically trivial, and what that paradox reveals about where lock-in actually lives The concept of architectural resilience: why analysing classical competitive advantages no longer makes sense if a company's terminal value is drifting toward zero because of AI Warren Buffett's castle metaphor revisited: attacks now come from the sky and from the foundations, not through the front door The choice of a hedge fund over a venture capital structure: how her framework, companies going to the moon vs. going to zero by 2030, maps better onto public assets across global markets The SaaSpocalypse: why historical SaaS categories (horizontal, vertical, infrastructure) are dissolving in a world of agent fleets, and why many companies' defensive positions are, in her view, short-lived The gap between US and European allocators: not a difference in intelligence, but in physical proximity to the AI labs, creating a lag of several months in real-world understanding The human side of the transition: how companies that face the truth honestly are beginning to redesign their workflows with intelligence at the core, rather than resisting the inevitable A sharp, unfiltered conversation that gives concrete tools for thinking about company value in the age of agentic AI. Raphaëlle's recommendation: “Letters” by Albert Camus & Maria Casarès https://www.penguin.co.uk/books/313959/letters-by-casares-albert-camus-and-maria/9780241400425 Useful links: Raphaëlle d'Ornano: https://www.linkedin.com/in/raphaelle-d-ornano/ Decoding Discontinuity : https://www.decodingdiscontinuity.com/ Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

May 13, 20263 min

[EXCERPT] Raphaëlle d'Ornano - Behind Decoding Discontinuity

This is an excerpt of Solenne's conversation with Raphaëlle d'Ornano, Founder of Decoding Discontinuity. Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 28, 202630 min

#65 - Anne Lucas (Alta) - The talent unicorn doesn't exist

In this episode, I welcome Anne Lucas , Founding Partner of Alt-a , for a conversation about executive search, board building, and leadership transitions in tech companies. We discussed : Why finding alignment between founders and investors before a search even starts is the most critical — and most underestimated — part of a headhunter's job, illustrated by a CTO search where both parties said "we want an AI expert" but meant completely different things Three recurring hiring mistakes in tech: giving a C-level title prematurely, recruiting from large corporates without assessing context fit, and launching a search too late — given that a full process takes around six months from start to day one Why independent board members in Europe are still treated as a "would-be-nice" rather than a strategic lever, and why that is a governance mistake for companies planning an exit The four pillars of an effective board according to Anne: the right complementary skill set around the table, a culture of constructive conflict, strong relationships between founders and board members, and adherence to basic best practices like reading the board pack Why looking only for candidates who have "already done it" is a mistake — and how the real question should be "can they do it?", which often leads to more creative and better-fit profiles The leadership profile shift across growth stages: a zero-to-one builder thrives on chaos and ambiguity, while scaling from ten to a hundred requires structure and process — and the two profiles are rarely the same person How AI is reshaping the headhunting profession not by replacing human judgment, but by accelerating the labor-intensive parts of the job — leaving more time for the advisory and relationship work that actually drives results Anne's perspective challenges the idea that governance and talent strategy are operational afterthoughts. This conversation is a reminder that the decisions made around people and boards shape a company's trajectory for years. Anne’s recommendation : “The Athena Doctrine” by John Gerzema and Michael D'Antonio Useful links: Anne Lucas: https://www.linkedin.com/in/anne-lucas-alta/ Alt-a: https://www.alt-a.co/ ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 25, 20264 min

[EXCERPT] Anne Lucas - The talent unicorn doesn't exist

This is an excerpt of Solenne's conversation with Anne Lucast, Founding partner at Alta Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 14, 202638 min

#64 - Thomas Restout (B2C2) - The invisible hand behind a crypto trade

In this episode, I welcome Thomas Restout , Groupe CEO of B2C2 , for a rigorous and highly technical conversation on crypto « market making » and the structural differences between traditional finance and blockchain-based markets. Unlike many discussions focused on price or retail narratives, this episode goes deep into balance sheet mechanics, risk management, derivatives infrastructure, and capital efficiency. We discussed: How B2C2 works as a « digital asset securities bank » - providing continuous pricing, OTC execution, and derivatives solutions to institutions, exchanges, and token issuers. What market making really means in practice: aggregating fragmented liquidity, holding risk temporarily, and matching client flows / just like in FX, but 24/7. The full risk stack behind every trade: credit risk, settlement risk, liquidation risk, regulatory risk and why it's more complex than most people think. How B2C2 evolved from cross-exchange arbitrage in 2015 into a regulated OTC model built to compete with the world's top HFT firms. Why institutional adoption is « overstated » ETF exposure grew fast, but real on-chain adoption (wallets, stablecoins, infrastructure) is moving much slower than expected. Why blockchain settlement is a game changer: near-instant settlement reduces credit risk, speeds up balance sheet rotation, and can dramatically cut margin requirements in derivatives. How B2C2's trading engine works in practice: streaming prices via API, internalizing flows, and hedging across 50+ venues including ETFs, spot exchanges, perpetual futures, and DeFi. A dense and highly educational exchange that connects traditional finance expertise with crypto-native infrastructure, and clarifies what truly changes, and what does not, when markets move on-chain. Useful links: Thomas Restout: https://www.linkedin.com/in/thomas-restout-b2c2/ B2C2: http://www.b2c2.com ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 11, 20264 min

[EXCERPT] Thomas Restout - The invisible hand behind a crypto trade

This is an excerpt of Solenne's conversation with Thomas Restout, Group CEO of B2C2 Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 7, 202630 min

#63 - Robin Wauters - EU Inc: Can It Fix Europe's Tech Fragmentation?

In this episode, I speak with Robin Wauters , European tech ecosystem builder at EU-Inc, about a topic that goes far beyond startups and venture capital headlines: the structural fragmentation of Europe’s innovation landscape — and the ambitious idea behind EU Inc. Unlike many Finscale conversations focused on a single company or founder journey, this episode zooms out. It explores whether Europe needs a new legal and financial framework to truly compete on a global scale — and what is structurally holding it back today. We discussed: The origin of the EU Inc initiative: a proposal to create a single, pan-European corporate structure that would allow startups to incorporate once and operate seamlessly across all EU member states, instead of navigating 27 different legal systems. The concrete friction points founders face today in Europe — from incorporation and employee stock options to cross-border investment complexity — and how these barriers slow down scaling compared to the US. The political and regulatory challenges of building such a framework, including the tension between national sovereignty and the need for deeper integration to foster innovation. The role of capital markets in Europe, and why fragmentation in listing rules, taxation and supervision makes it harder to create true European champions. The broader competitiveness question: how Europe positions itself between the US and China in technology, capital formation and regulatory agility. The realistic path forward — what can be implemented pragmatically, what requires political courage, and why timing matters in the current geopolitical and economic context. A thoughtful and strategic conversation about Europe’s future as a startup continent — not just in terms of funding rounds, but in terms of structural design. Robin’s recommendation: Podcast “Stuff you should know”: https://stuffyoushouldknow.com/ Useful links: Robin Wauters: https://www.linkedin.com/in/robinwauters/ EU-Inc: https://www.eu-inc.org Sirris: http://www.sirris.be ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

March 4, 20263 min

[EXCERPT] Robin Wauters - EU Inc: Can It Fix Europe's Tech Fragmentation?

This is an excerpt of Solenne's conversation with Robin Wauters, European tech ecosystem builder at EU-Inc Finscale is also available on YouTube: https://www.youtube.com/@finscale . ******************** Finscale is much more than a podcast. It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships. 📢 With Finscale Private Talks , I bring together investors, entrepreneurs, and institutions for high-value private exchanges. 🎯 Through my coaching and advisory support , leaders and finance professionals can better structure their vision and accelerate their impact. 🤝 As for partnerships , they create unique opportunities to position yourself at the very heart of the industry’s transformation. 🔗 Discover all the initiatives on the Finscale website : https://finscale.business Enjoy listening! Produced by Gokyo Sàrl-S, hosted by Audiomeans© . Visit the Privacy Policy of Finscale and Audiomeans for more information.

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