International Crypto Banker · Advisor · Andorra

Carlos
Salinas

Carlos Salinas — International Crypto Banker

Two decades in capital markets. A decade building digital asset infrastructure inside regulated banks. Now at the point where both worlds actually meet.

Most people in crypto don't understand institutions.
Most institutions don't understand crypto.
That gap is where I work.

I advise private banks, family offices, and HNW individuals on how to navigate digital assets with institutional discipline — custody, allocation, regulatory posture, risk architecture. I also work with Web3-native allocators who need access to institutional-grade deal flow, real-world collateral, and bridges that don't yet exist between on-chain markets and traditional capital. And for those building at the intersection, I mentor, coach, and sit at the table as an advisor or board member.

01

Profile

Carlos Salinas is an international crypto banker with deep roots in traditional capital markets and a decade building digital asset infrastructure inside regulated institutions. He currently leads the Digital Platforms Business at Estating, structuring institutional-grade real estate as programmable collateral for DeFi lending venues, stablecoin treasuries, and crypto-native capital markets.

What makes his perspective unusual is the combination: he understands how banks actually work — risk committees, compliance architecture, custody liability, client reporting — and he understands how on-chain markets actually work — protocol mechanics, liquidity dynamics, collateral design, governance. Most people have one side. He has both, built over years of operating at the boundary rather than observing it from either direction.

Previously, he led digital asset strategy at MoraBanc in Andorra — building the principality's first regulated crypto custody wallet, a stablecoin settlement rail integrating Fireblocks with front and back office operations, and CME futures access via Hidden Road as prime broker. That experience produced a structural conviction that still drives his work: the meaningful question in digital assets is never which assets to hold, but what infrastructure is required to hold them properly.

He is a faculty member at Instituto de Estudios Bursátiles (IEB) in Madrid, where he teaches digital assets, risk frameworks, and structured products to finance professionals. He organizes Crypto Mondays Andorra, a monthly practitioner forum. He contributes regularly to Cinco Días, ABC Economía, Funds Society, and IEB publications. He has spoken at the European Blockchain Convention, Blockchain Summit LATAM, the ICAM International Congress on Digital Assets, the World Token Congress, and the Andorra Economic Forum.

He sees trends before consensus forms around them. He was making the case for regulated custody infrastructure in 2020, the stablecoin settlement thesis in 2021, the RWA collateral argument in 2023, and the Morpho curator strategy in 2024 — each well ahead of when those became the dominant conversations. That track record is not luck. It comes from working inside the system while watching how capital actually moves.

Over more than 80 conferences attended — from the European Blockchain Convention and EthCC to Blockchain Summit LATAM, the World Token Congress, and the Andorra Economic Forum — he has built a curated network of hundreds of operators, investors, protocol founders, regulators, and institutional decision-makers actively shaping the digital asset industry. That network is not a contact list. It is a working map of who is building what, where the real capital is moving, and which projects are worth taking seriously. For the people he works with, that context is often as valuable as the strategy itself.

2+
Decades in Capital Markets
80+
Conferences Attended
AD
Based in Andorra · EU Access
100s
Curated Industry Contacts
Private Banks · Family Offices · HNW Individuals · Web3 Allocators · Protocol Teams · Executives in Transition
Who I Work With
02

Who I Work With

Traditional Finance Side

Private Banks · Family Offices · HNW Individuals

The digital asset market has changed faster than most institutions can process. The questions that matter now are not whether to participate, but how to do it with the governance, custody, and risk architecture that serious capital demands. I help private banks develop digital asset product strategies that their compliance and risk teams can actually defend. I help family offices build a coherent investment thesis — not a list of tokens, but a framework for allocation that accounts for custody liability, regulatory treatment, and portfolio impact. I help HNW individuals understand what they own, how it is held, and what the structural risks are — before allocation, not after.

→ Digital Asset Strategy & Board Advisory
→ Custody Architecture & Vendor Selection
→ Portfolio Positioning & Risk Frameworks
→ Regulatory Navigation · MiCA · CASP
→ Executive Mentoring & Team Education
Web3 Native Side

Web3 Allocators · Protocol Teams · On-chain Funds

Most Web3-native capital allocators have the on-chain infrastructure but lack access to institutional-grade deal flow, real-world collateral, and the relationship networks that exist in traditional capital markets. I curate investment opportunities at the intersection of RWA and DeFi — real estate collateral for lending protocols, structured product pipelines, and institutional client access that doesn't flow through standard crypto channels. I also help protocols and on-chain funds build bridges that don't yet exist: into regulated custody environments, into private banking distribution, and into the compliance frameworks that institutional LPs require before they can participate.

→ RWA Opportunity Curation & Deal Flow
→ TradFi-DeFi Bridge Architecture
→ Network Access · 80+ Conferences · 100s of Curated Contacts
→ Institutional Investor Access & Introductions
→ Collateral Design & Morpho Vault Strategy
→ Protocol Advisory & Board Participation
Mentoring · Coaching · Board

For executives forming their conviction, teams building at the boundary, and boards that need a practitioner's perspective — not a consultant's deck.

Start a Conversation →
03

Focus Areas

01 / ADVISORY
Private Bank & Family Office Digital Strategy

Helping private banks build digital asset offerings their compliance and risk teams can defend. Helping family offices construct a coherent investment thesis — not a token list, but a framework that accounts for custody liability, regulatory treatment in their jurisdiction, tax implications, and portfolio-level impact. The conversation most institutions need is not "which assets" but "what infrastructure."

02 / WEB3
Web3 Allocator Strategy & RWA Curation

For Web3-native capital allocators, the gap is not capital — it is access to institutional-grade deal flow, real-world collateral, and relationships that don't exist on-chain. I curate RWA investment opportunities, structure collateral frameworks for DeFi lending venues, and build the bridges into regulated custody environments and private banking distribution that most on-chain funds cannot access alone.

03 / RWA
Real-World Asset Collateral Infrastructure

Structuring institutional-grade real estate as programmable collateral for deployment across DeFi lending venues, stablecoin treasuries, and crypto-native capital markets. The critical question is not which assets can be tokenized, but which assets function as credible collateral in digital markets — with governance, legal clarity, and risk architecture to support serious capital.

04 / TREND
Market Structure & Early Signal Reading

Regulated custody as a thesis in 2020. Stablecoin settlement infrastructure in 2021. RWA collateral as the DeFi primitive in 2023. Morpho curator strategy in 2024. Each of these was a minority position well before market consensus. The pattern comes from operating inside institutions while watching how capital actually moves — and understanding that structural shifts announce themselves quietly, long before the narrative catches up.

05 / BOARD
Board Advisory & Strategic Mentoring

Available as a board member or strategic advisor to financial institutions, protocol teams, and companies building at the intersection of TradFi and digital markets. Also active as a mentor and coach for executives forming their digital asset conviction, finance professionals transitioning into the space, and teams that need a practitioner's perspective — not a consultant's overview — at critical moments.

06 / REG
Regulatory Architecture · MiCA · EU

Navigating MiCA compliance, CASP reclassification risk, and EU regulatory alignment for digital asset products, DeFi vaults, and custody structures. Andorra's position as a regulated jurisdiction with direct EU market access provides a distinctive vantage point — between the principality's flexible framework and the compliance requirements of European institutional capital.

04

Experience

2026 — Present
Estating
Head of Digital Platforms Business

Structuring Real Estate as Programmable Collateral

Leading the platform architecture and business development for Estating's collateral infrastructure. The work involves structuring institutional-grade real estate assets for deployment across DeFi lending venues (Morpho, Aave Horizon), stablecoin treasury infrastructures, and crypto-native capital markets.

Core focus areas: collateral standard design, governance model development, integration layer architecture, and positioning across both institutional and Web3-native capital allocators. Active coverage of Vault Summit / EthCC positioning, Morpho curator strategy, and European structured products benchmarking.

RWA Collateral Morpho DeFi Deployment Stablecoin Treasury MiCA ERC-4626
2020 — 2025
MoraBanc
Head of Digital Asset Strategy

Building Regulated Custody & Execution at a Traditional Bank

Led the digital asset strategy at MoraBanc, Andorra's largest private bank — developing Andorra's first regulated crypto custody wallet, a stablecoin settlement rail integrating Fireblocks with front and back office systems, and CME futures/options access via Hidden Road as prime broker.

Represented MoraBanc at the European Blockchain Convention Barcelona, Blockchain Summit LATAM Medellín, and multiple institutional forums. Developed the operational and regulatory framework that established MoraBanc as the reference institution for digital assets in Andorra.

Regulated Custody Fireblocks Settlement Rails CME Futures Andorran Regulation Stablecoin
Ongoing
IEB
Faculty — Digital Assets & Structured Products

Instituto de Estudios Bursátiles — Madrid

Developed and teaches courses covering digital asset markets, risk frameworks for crypto-native instruments, and structured products. Co-authored research on corporate stablecoins as narrow banks, examining the regulatory and monetary policy implications of issuer-controlled stable instruments.

Digital Assets Education Risk Frameworks Structured Products Research
05

Media & Publications

56 entries · Research papers, articles, podcasts, conference talks, and press coverage from 2022 to 2026. Content appears in the original publication language.

06

Teaching & Community

Faculty · IEB Madrid
Digital Assets, Risk & Structured Products
Courses designed for finance professionals entering digital asset markets — covering regulatory frameworks (MiCA, MICA II), custody infrastructure, structured product design, and risk governance. The goal is practitioner-grade education, not introductory overviews. The audience is bankers, asset managers, and institutional investors who need operational frameworks, not primers.
Organizer · Andorra
Crypto Mondays Andorra
A monthly practitioner forum on digital assets, blockchain infrastructure, and decentralized finance, held in Andorra la Vella. The format is deliberately small and practitioner-focused — speakers from protocol teams, regulatory bodies, and institutional infrastructure. Past editions have covered Bittensor / decentralized AI, DeFi collateral architecture, and Andorra's regulatory positioning within European digital asset frameworks.
07

Frequently Asked

Who do you typically work with?
Private banks building a digital asset offering. Family offices forming their first or second-generation allocation thesis. High-net-worth individuals who want to understand what they own before they commit capital. Web3-native allocators and protocol teams that need access to institutional deal flow, real-world collateral, and TradFi distribution. Executives and boards that need a practitioner's perspective — not a consultant's overview.
What makes your perspective different from other digital asset advisors?
Most advisors come from one side — either traditional finance or crypto. I have spent years operating inside both. I built regulated custody infrastructure inside a traditional bank. I structure real-world collateral for DeFi protocols. I know what risk committees actually need to hear, and I know what on-chain allocators actually need to access. That gap between the two worlds is where the relevant work is happening — and where I operate.
How do you help a family office approach digital assets?
The starting point is a framework, not a portfolio. Before any allocation decision, a family office needs to understand: how digital assets are held and under what legal structure, what the regulatory treatment is in their jurisdiction, what the correlation and volatility properties mean for their overall portfolio, and what custody options actually exist for an institution of their size and risk profile. I build that framework first. Capital allocation follows once the structure is sound.
Can you help a Web3 fund access institutional investors?
Yes. Most Web3-native funds have strong on-chain infrastructure but lack the relationship networks and institutional credibility that traditional capital allocators require. Through my network — built across 80+ conferences, from EthCC and Vault Summit to the European Blockchain Convention and Blockchain Summit LATAM — I provide introductions, deal flow curation, and help structure the compliance and custody frameworks that institutional LPs need to see before they participate.
What is your view on MiCA and European digital asset regulation?
MiCA is the most consequential digital asset regulatory framework in the world right now. It creates a legitimate operating environment for institutions that want to participate in European digital asset markets — but it also introduces CASP reclassification risk and compliance obligations that most TradFi players have not fully mapped. Andorra implemented a MiCA-equivalent framework three years before MiCA came into effect, which gave me direct operational experience navigating exactly this regulatory environment before it became the European standard.
Are you available for speaking, mentoring, or board roles?
Yes to all three. I speak regularly at institutional conferences on digital assets, RWA collateral, MiCA regulation, and the convergence of TradFi and DeFi — in both English and Spanish. I mentor executives forming their digital asset conviction and finance professionals transitioning into the space. I am also open to board and strategic advisor mandates with financial institutions, fintech companies, and protocol teams building serious infrastructure.
Why are you considered a leading voice on digital assets in Spain and Europe?
More than 56 published pieces — opinion columns in Cinco Días (El País), articles in ABC Economía, Forbes España, and Expansión, research on SSRN, appearances on the Chainalysis Public Key podcast. Keynotes at EBC10, EBC11, the World Token Congress, the Andorra Economic Forum, and EthCC. Over 80 conferences across Europe and Latin America. I was making the case for regulated digital asset infrastructure in Spain before most institutions had the conversation internally.
What is Andorra's position in the European digital asset landscape?
Andorra passed its digital asset regulatory framework in 2021 — three years before MiCA came into effect across the EU. That gave Andorra-based institutions a significant head start: operational experience with regulated custody, client-facing digital asset products, and compliance infrastructure that most European banks are only now beginning to build. Andorra's combination of regulatory clarity, tax efficiency, EU market access, and a concentrated community of sophisticated private wealth makes it one of the most interesting digital asset jurisdictions in Europe.
Connect

The conversation that makes sense to have
before the decision is already made.

Whether you are a private bank building a digital asset strategy, a family office forming a conviction, a Web3 allocator looking for institutional-grade deal flow, or an executive who needs a practitioner's perspective at the table — the starting point is a direct conversation. No deck required.