THE FINTECH INTERVIEW
STABLECOIN – KEY FACTS
Traditional cross-border payments take days to clear while stablecoins settle almost instantly
Current international payments involve multiple banks adding fees and delays at each step
Businesses often struggle to track payment status with traditional cross-border transfer methods
Exchange rate fluctuations can increase costs between when payments start and finish
New US legislation is creating rules for how stablecoins must be backed and audited
Healthcare, government and telecoms companies all face similar international payment problems
Payment systems from twenty years ago still handle most cross-border business transactions
Companies can add stablecoin payments without replacing their existing financial systems fintechmagazine. com 33