PODCAST | The case for stablecoin use in cross-border payments

The growing use of stablecoins in cross-border payments is the focus of this edition of Business Day Spotlight. 

Host Mudiwa Gavaza is joined by the team from Deus X Pay (DXP) Maria Heraty, CFO, and Richard Crook, the company’s CEO. 

Much of the conversation is spent talking about stablecoins and the use of blockchain technology as a fast and cheap method of transferring money across borders. 

The team highlights how creating scalable and future-ready financial solutions caters to evolving economic needs, particularly in developing markets, can work.

Join the discussion: 

DXP is crypto payments gateway and regulated stable coin provider. 

Stablecoins are essentially cryptocurrencies designed to minimise price volatility, pegged to a stable asset like the US dollar or gold. 

Crook says this stability makes them appealing for both consumers and businesses, especially in cross-border transactions.

This week, DXP launched a new platform called NeXus that provides for instant cross border payments. 

Heraty notes the example of diamond giant, De Beers, which has embraced the blockchain for its Tracr programme. 

“This allows them to track the entire journey of a diamond, from mine to market. This transparency not only helps in combating issues like conflict diamonds but also strengthens the trust customers have in their products,” she says. 

Topics of discussion include: DXP; growing use and adoption of the blockchain in mainstream finance; use of stablecoins for cross-border payments; and regulatory complexity. 

• Business Day Spotlight is a MultimediaLIVE Production. 

Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Casts