Elevator Ventures Podcast

The episode covers regulatory frameworks (MiCA, DORA, AML directives) and custody business models with some useful distinctions (segregation of duties post-FTX, B2B vs. B2C pivot), but heavily relies on broad overviews rather than novel insights. Martin repeats foundational concepts (private keys, compliance burden, market evolution) that an informed B2B operator would already understand. There is limited depth on specific technical or business challenges.

“We take care of the safe storage of digital assets. It can be anything from cryptocurrencies to tokenized assets such as real estate or debts to stable coins or NFTs”

“And that model is highly appreciated in the market. Especially since the meltdown of uh, FTX three years ago. It became a kind of a standard that the segregation is in place between trading and custody”

The core positioning - regulated B2B crypto custody with segregation of duties - is now industry standard post-FTX and not novel. The founding story (colleagues' crypto enthusiasm leading to blockchain exploration) is relatable but generic. No contrarian arguments, first-principles thinking, or unconventional frameworks are presented; instead, the guest affirms existing market wisdom.

“And I was, uh, what is he doing there? And I have to take a look. And that was actually the beginning of the journey. We went down the rabbit hole, started with investment into cryptocurrencies, but really soon figured out technology behind it”

“Especially since the meltdown of uh, FTX three years ago. It became a kind of a standard that the segregation is in place between trading and custody”

Martin Kreitmeier is a co-founder and CEO of an operating, regulated crypto custodian with material scale (several billion euros AUM, ~1 million customers, 80+ projects). However, his positioning is primarily as a vendor speaking about his own product rather than as a practitioner sharing hard-won operational lessons. He is relevant but somewhat constrained by the self-promotional context.

“we are three founders at Tangany and we used to work together in the same company. So we started there in 2010 and worked there until, uh, 17”

“Like we have several billion uh, euros in SMS custody for nearly 1 million customers”

The episode includes some concrete details: Tangany manages several billion euros for ~1 million customers, has handled 80+ projects over 7-8 years, received MiCA license in August, works with named clients (Porsche, Google), offers staking yields up to 5% annually, and operates under a NiCA license. However, most operational specifics (timelines, cost structures, integration complexity, failure rates, unit economics) are absent. Regulatory references are mentioned but not explained with examples.

“Like we have several billion uh, euros in SMS custody for nearly 1 million customers”

“We received um our MICA license in August”

The host (Noemi Sabour) asks straightforward, often leading questions that rarely push back or probe contradictions. Questions follow a predictable arc (founding story → product → market entry → regulation → future). No follow-ups challenge claims, request specifics on failures or tradeoffs, or test assumptions. The conversation feels transactional - the host is clearly excited about the investment and does not adopt a critical posture.

“Martin, now let's move to the product part of the conversation, the core of Tangany. Can you walk us through the key components”

“And having obtained MICA license, what are the next big milestones for Tangany?”