“The demand for RWAs is not in the tens of millions or even hundreds of millions. It’s in the billions of dollars.” In episode 6 of The Desk, we talk with Aya Kantorovich (@aya_kantor), co-founder and co-CEO of @august_digital and @upshift_fi, about the $16 trillion US managed accounts market she sees as DeFi’s opportunity and how Upshift’s distribution shifted from DeFi natives to exchanges and neobanks. Her view is that banks and fintechs will all run on vaults, and most end clients won’t know it’s happening in the background.