NEW: $5M from Founders Fund, Pantera and others, plus a brand-new SDK, as Anvil tries to make crypto fade into the background of everyday business. @AcronymFNDN President @trspalding joins @kateirwin to break down how a DeFi letter-of-credit protocol powers buy now, pay later, accounts receivable and reservations, and why Bitcoin, Ethereum and tokenized real-world assets could become on-chain collateral. Watch the full conversation on Markets Outlook: 00:00 - Tyler Spalding Joins Markets Outlook 02:02 - Anvil Launches Its SDK for Builders 03:10 - DeFi's New Playbook: Letters of Credit 04:09 - Founders Fund Leads $5M Anvil Token Round 05:40 - Why a Governance Token Still Makes Sense 09:12 - The First Companies to Integrate 11:42 - What Makes Anvil's On-Chain Collateral Different 14:22 - Collateral in the Age of AI Agents 14:57 - Bitcoin, Ethereum and the Future of Collateral