Priya Jaiswal stands as a prominent figure in the evolving landscape of international finance, bringing a wealth of knowledge in market analysis and portfolio management to the table. As an authority on how digital assets and traditional banking systems intersect, she has spent years dissecting the mechanics of global capital flows and the shifting needs of multinational corporations. Her deep understanding of the practical applications of blockchain technology and her foresight into international business trends make her a vital voice for anyone navigating the complexities of modern fintech. In this discussion, Jaiswal shares her perspective on the rapid transformation of the payments industry, offering a glimpse into a world where geographic borders no longer dictate the speed of commerce.
The following conversation explores the fundamental shifts occurring in how money moves across the globe, specifically focusing on the transition from legacy banking rails to sophisticated stablecoin infrastructure. We delve into the critical importance of settlement speed, where transactions that once took several business days are now finalized in a matter of seconds. Jaiswal highlights the strategic expansion into emerging markets, the regulatory hurdles of operating within a fragmented global landscape, and the inevitable consolidation of digital assets. We also examine the “democratization” of pricing in the financial sector and why the future of monetization for fintech firms may lie in value-added services rather than transaction fees.
Traditional cross-border payments have historically been a source of frustration, often taking several business days to clear. How is the introduction of stablecoin infrastructure fundamentally changing the expectations of global businesses regarding settlement speed?
The shift we are seeing today is nothing short of a paradigm shift for corporate treasurers who have long been at the mercy of the antiquated correspondent banking system. By utilizing stablecoin rails, we are moving into an era where payment settlement occurs in less than two minutes, a stark contrast to the standard three-to-five-day waiting period companies once endured. This velocity allows businesses to manage their cash flow with surgical precision, reducing the capital tied up in transit and allowing for real-time reactions to market demands. When a company can move value across borders almost as fast as sending an email, it fundamentally changes how they approach international partnerships and supply chain management. The sensory relief of seeing a multi-million dollar balance update instantly on a dashboard, rather than waiting for manual bank reconciliations, is becoming the new gold standard for global trade.
Your work often touches on the expansion into diverse geographic regions. What are the primary drivers behind the push into emerging markets like Southeast Asia and Africa, and how does a lean team manage such a vast footprint?
There is a very clear and growing demand in Southeast Asia and Africa where traditional financial infrastructure is either lacking or prohibitively expensive for local enterprises. While the current reach covers about 50 countries, the strategic roadmap involves scaling that presence to approximately 200 countries to capture these high-growth opportunities. It is fascinating that a highly specialized team of just 14 employees can orchestrate such a massive operation by leveraging automated compliance and decentralized technology. This lean structure allows for agility, especially when navigating the regulatory requirements of 45 different states while simultaneously working toward approval in the final five. The focus is on building a global network that feels local, ensuring that neobanks and other financial apps can offer seamless money-transfer capabilities without the overhead of traditional banking conglomerates.
With a multitude of stablecoins entering the market, from private offerings to state-sponsored assets, how do you see the ecosystem evolving in terms of liquidity and asset choice?
While there is a lot of noise surrounding the launch of new stablecoins, the reality of the market is dictated by deep liquidity and actual user activity. We are already seeing a significant consolidation where just two or three primary stablecoins, such as USDC and USDT, account for more than 80 percent of total transaction volume. For a bank partner in a country like Brazil, the decision of which asset to use is based entirely on what is most liquid and what will result in the tightest spread when converting to the Brazilian real. If a stablecoin lacks a robust user base, the wide spreads make it practically useless for moving large sums of money efficiently. I expect we will see further consolidation by vertical, as fragmentation across thousands of different coins only serves to make the foreign exchange rates less competitive for the end user.
There is an ongoing debate about whether the end user actually cares about the underlying technology used for their transfers. Have you found that businesses are becoming more opinionated about using stablecoins versus traditional fiat?
Initially, many of us believed that as long as the value moved from point A to point B reliably, the “plumbing” of the transaction didn’t matter to the client. However, that perspective is evolving as we see content creators in regions like the Philippines who specifically want to hold their earnings in a dollar-pegged stablecoin to preserve their purchasing power. These users are becoming very opinionated because the technology provides them with a direct way to access a stable currency that was previously out of reach. For these global bases, the stablecoin isn’t just a transport mechanism; it is the final destination and a preferred store of value. This shift shows that businesses must now cater to a workforce and a customer base that understands the unique benefits of digital assets beyond just the speed of the transfer.
As the industry matures and more startups enter the space, how do you view the future of pricing and the ability for fintech firms to remain profitable?
The industry is moving toward a model where cross-border pricing becomes a commodity, similar to how we saw stock trading fees disappear in the retail investment space. By adopting a strategy that passes the majority of savings on to the customer, companies are positioning themselves as the “Robinhood” of international payments. While pricing will likely become more consistent across the board over a five-to-ten-year horizon, healthy margins are still achievable through scale and the integration of automated compliance. The real path to long-term profitability lies in the additional financial products and services that can be built on top of this core infrastructure. As basic money movement becomes nearly free, the value will migrate toward sophisticated treasury management tools and white-labeled solutions that help other brands optimize their backend operations.
What is your forecast for the evolution of cross-border payments over the next three years?
By late 2028, I expect that the distinction between “crypto” payments and “traditional” payments will have almost entirely vanished for the average business user. We will see a world where the vast majority of international trade is settled on-chain within minutes, supported by a highly regulated and consolidated group of stablecoin issuers. The expansion into 200 countries will likely be the industry norm, and the focus will shift from the novelty of the technology to the depth of the financial ecosystem built around it. We are moving toward a frictionless global economy where the cost of moving money is negligible, and the real competition will be based on who can provide the most comprehensive suite of financial management tools. Ultimately, the winners will be those who successfully bridge the gap between the speed of the internet and the security of traditional finance.
