Over the past seven years, businesses of all sizes and sectors have undergone extraordinary transformations, driven by technological breakthroughs and shifting economic and political conditions. Nowhere is this more evident than in cross-border payments – an essential component of global trade.
The way money moves across borders has changed, with innovative models rapidly emerging to meet the rising demand for seamless transactions. This is especially true in Africa, where intra-continental trade could increase income by $450 billion by 2035, as well as in other emerging markets. At Verto, with the ability to facilitate payouts in more than 170 countries, we’ve witnessed these developments first-hand.
A significant shift in recent years has been the gradual disintermediation of traditional banking systems in cross-border payments. What began as a response to the demand for faster, seamless transactions has gained remarkable momentum with the rise of stable coin infrastructures. Companies like Ripple are building proprietary networks that leverage stable coins to bypass conventional banking channels, providing faster and more cost-effective solutions.