Banks and FinTechs Are Unbundling the Cross-Border Stack to Win Over CFOs
Corporate treasurers looking out across global commerce would be forgiven for thinking they see the signs of a new cross-border financial stack taking shape. After all, they might be. Visa, for example, joined the Monetary Authority of Singapore’s BLOOM initiative Tuesday (Aug. 25), adding another global payments heavyweight to an experiment designed to connect traditional […] The post Banks and…
Corporate treasurers are witnessing the emergence of a new cross-border financial stack, as major players such as Visa and OpenPayd join initiatives aimed at connecting traditional payment systems with stablecoin-based settlement rails. Visa's participation in the Monetary Authority of Singapore's BLOOM initiative, along with OpenPayd's integration with Circle Payments Network, highlights the growing interest in enabling near-instant cross-border fiat payments.
Additionally, projects like Project Agorá, Project Pangea, and Qivalis are exploring tokenized commercial bank deposits, real-time stablecoin-based FX settlement, and the creation of a euro stablecoin, respectively. These developments aim to address the interoperability challenges faced by multinational treasurers, who ultimately prioritize seamless value transfer across borders with final settlement, regulatory certainty, liquidity, and usable transaction information.
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