Digital Assets
Distributed Ledger Technology (DLT), leading with Stablecoins, has become the key disruptive force in Cross-Border Payments, especially for Enterprise & Merchant Use Cases
Global Cross-Border Payments
Across FS industry, Global Payments show the highest multiples and RoTE, along with resilient single-digit growth in revenues to reach $3Tr. by 2029
Cross-border B2B Payments, representing 8% of the global revenue pool, expects double-digit volume growth rate, especially driven by Emerging Markets
Disruptive Trends Analysis
Since 2011, Correspondent Banking has decreased by 34%, especially in Emerging Markets
In parallel, Distributed Ledger Technology (DLT) along with Tokenized Deposits and Central Bank Digital Currencies (CBDC) have become disruptive alternatives to SWIFT, resulting in a wider spectrum of global Transaction Banking models
Stablecoins
Stablecoins have reached c.$300 Bn stock, with x4-16 growth potential by 2030. In volume, non-wholesale cross-border payments Stablecoins’ TAM is within $16-24 Tr. range
Today, stablecoins volume rivals that of Visa and Mastercard, though its payment usage is still nascent. Use Cases for Entreprises & Merchants are particularly attractive given Stablecoin adoption’s drivers (cost & speed), with large potential for Emerging Markets
