Because the digital belongings market matures past hypothesis, David Gan, Founder and Common Accomplice of Inception Capital, is putting his conviction on one transformative shift: the rise of an automated monetary system. That is the place capital, yield, and asset logic function repeatedly, autonomously, and with out friction.
Talking at Korea Blockchain Week and Gamma Prime’s Tokenized Capital Summit 2025, Gan framed this shift as the brand new battleground for worth creation in digital finance.
The tip of passive cash
Gan describes the idea as easy however transformative.
“Sooner or later, we’ll transfer away from at this time’s fragmented banking layers comparable to intermediaries, wires, and clearing methods, and right into a world the place monetary companies are automated, agent-driven, and at all times on.”
In Gan’s view, the way forward for finance is one the place cash not sits idle. Each influx, whether or not from payroll, yield, or transaction income, may be mechanically deployed into optimized methods or rebalanced throughout asset swimming pools in actual time.
As an alternative of manually managing financial savings or investments, people and establishments will work together with autonomous, composable monetary brokers that intelligently allocate capital across the clock.
He believes that conventional monetary rails comparable to SWIFT, middleman banks, and native clearing methods will step by step get replaced by on-chain networks that function repeatedly, transparently, and globally.
The end result, he says, will probably be a composable monetary layer the place asset administration, funds, and custody merge right into a single self-operating system.
As extra belongings achieve digital illustration, from actual property and collectibles to mental property, Gan expects a structural redefinition of how worth is custodied, traded, and banked on-chain. In his view, this shift is not going to merely digitize present methods however create an surroundings that’s sooner, extra liquid, and inherently interoperable.
This imaginative and prescient of automation is grounded in actual knowledge. In accordance with Bitwise Asset Administration, stablecoin switch volumes surged into the multi-trillion-dollar vary in 2024, now rivaling or exceeding Visa’s annual settlement throughput whereas working at sub-1 p.c transaction prices and 24/7 real-time velocity.
For Gan, this marks a transparent sign that the rails for an automatic monetary future are already right here and that the intelligence layer is what comes subsequent.
From tokenization to intelligence
Stablecoins have already confirmed that programmable cash can transfer frictionlessly and effectively throughout borders. The logical subsequent step is the tokenization of belongings, extending this programmability to the whole lot from actual property and collectibles to mental property.
For Inception Capital, this convergence between liquidity and illustration marks a pivotal second. As worth turns into digitally native and repeatedly tradable, the automated monetary system begins to take tangible form, connecting capital and belongings by way of a unified on-chain structure.
On the Tokenized Capital Summit 2025 hosted by Gamma Prime, David Gan famous that real-world belongings are usually not a separate class however a part of the inevitable digital migration of the whole lot with worth.
“All of those belongings, whether or not conventional or on chain, are in the end going to be digital belongings,” he stated. “The actual worth lies in creating higher marketplaces, enabling world liquidity, and giving buyers worldwide the identical entry to monetary primitives that People already get pleasure from.”
Gan additionally sees AI and crypto as pure enhances on this evolution. AI gives the intelligence layer, studying, optimizing, and executing monetary actions, whereas crypto provides the belief, transparency, and settlement infrastructure that makes automation potential. Collectively, they type the inspiration of what he calls the self-operating monetary stack.
A maturing business constructed for actual utility
Gan argues that the crypto business has lastly reached an inflection level. The infrastructure part, targeted on constructing blockchains, bridges, and wallets, is essentially full. The subsequent wave will middle on functions that combine seamlessly into on a regular basis monetary life.
Regulatory progress helps speed up this transition. With frameworks such because the U.S. GENIUS Act, Europe’s MiCA, and Hong Kong’s Stablecoin Ordinance, the business is starting to function inside clearer boundaries, decreasing the uncertainty that after outlined the area.
“After years of volatility and uncertainty, we now have the inspiration for institutional adoption,” Gan stated. “What’s left is to construct the intelligence layer on high, methods that make finance run by itself.”
Inception Capital’s method
Based in 2021 and backed by Galaxy Digital, Animoca Manufacturers, and Invoice Ackman, Inception Capital manages over 80 million {dollars} throughout its enterprise and fund-of-funds methods. The agency has invested in additional than 40 early-stage tasks on the intersection of digital belongings and frontier expertise.
Gan’s method is to establish rising inflection factors early, earlier than they turn into consensus. His monitor file consists of early investments in Circle (earlier than “stablecoin” was even a time period), Ondo Finance (earlier than “RWA” turned a development), and MegaETH Labs (earlier than high-throughput L2s gained traction).
Right this moment, that very same forward-looking lens is concentrated on automated finance, the methods, brokers, and rails that may make the worldwide economic system function autonomously.
“We’re not chasing narratives,” Gan stated. “We’re backing the builders who make finance work with out friction, who’re turning the promise of blockchain into real-world monetary automation.”