Convera is thrilled to release part two of The Payments Pulse, a multipart report analyzing the changing state of international trade and commerce. Building on the market insights examined in The Payments Pulse part one, we now turn our attention to the unfolding emergence of three payments innovations promising to increase liquidity, certainty, and inclusion around the world.
As real-time payments (RTP) expand across borders, businesses engaged in international trade stand to benefit from instant global payments. Meanwhile, the recent boom in stablecoin usage suggests this fiat-pegged cryptocurrency could be on the path for mainstream adoption. And lastly, we rethink corporate treasury management through the lens of decentralized finance. In a rapidly evolving financial ecosystem, understanding these innovations could help your business increase transaction speed and payment delivery, reduce processing costs, and tap into new financial efficiencies.
Download Part 2 of the Payments Pulse now
The expansion of real-time payment systems across borders
Every business wants faster payments, especially when it comes to cross-border transactions that have traditionally been slow and costly. RTPs have the potential to accelerate doing business across borders, with global volumes projected to surge 161% to reach $58 trillion by 2028.
Almost 80 countries have already adopted an RTP network for their domestic payments, providing consumers and businesses alike with 24/7 instant payments, even on weekends. The next wave of innovation lies in the integration of domestic payment rails across borders, delivering instantaneous money movement around the world.
While regulatory and technical harmonization remains a challenge, ongoing infrastructure development and evolving frameworks suggest that real-time cross border capabilities will continue to gain momentum throughout the decade.
The European Central Bank (ECB) is making significant strides, having expanded the Eurozone’s TARGET Instant Payment Settlement (TIPS) service to include the Norwegian krone in April 2025, adding to the currently supported euro, Swedish krona, and Danish krone. North America is making international headway, with Payments Canada announcing that half the technical build is now complete for its much-delayed Real-Time Rail (RTR) system into the U.S. In the Asia Pacific region, Australia and Hong Kong have demonstrated advanced platforms for processing RTPs, while additional progress is sweeping Africa and the Middle East, bringing unprecedented access and financial inclusion to underserved markets.
Multinational collaborations are also fueling the growth of cross-border RTP networks, with the Bank for International Settlements (BIS) Innovation Hub’s Project Nexus aiming to standardize cross-border transactions by connecting domestic real-time payments systems across different countries. As these systems integrate and interoperable standards are rolled out, cross-border transactions are poised to become more seamless.
Real-time payments, real-time benefits
RTP networks offer substantial advantages to businesses, especially small and medium enterprises (SMEs). The speed of transactions helps optimize cash flow, reduce working capital and enhance liquidity. Other benefits of real-time payments include greater transparency, reduced costs and stronger supplier relationships through timely transactions. Additionally, RTP networks have the potential to enable businesses to scale globally by facilitating instant transactions with partners worldwide.
“Real-time cross border payments are no longer a future ambition; they’re a present-day game-changer,” says Dharmesh Syal, Convera’s Chief Technology Officer. “The expansion of real-time payment networks is pushing businesses toward new ways of operating, reshaping financial ecosystems and opening new doors for financial inclusion on a global scale.”
While RTP networks present significant opportunities for financial institutions, they also pose challenges, particularly in upgrading legacy infrastructure and combating fraud. To overcome such obstacles, institutions can partner with third-party providers like Convera to adopt scalable, API-driven payment systems, helping to meet growing customer demands for speed and transparency.
Stablecoins: Digital currencies on the verge of mainstream adoption
As digital currencies continue to reshape the global financial landscape, stablecoins growing into a transformative force, particularly in cross border payments.
What are stablecoins? They’re a form of cryptocurrency designed to maintain a steady value by being pegged to a fiat currency, such as the US dollar, or a commodity like gold. This stability, combined with the speed and transparency of blockchain technology, makes stablecoins a strong contender for mainstream adoption in business transactions.
“With institutions like the Bank of America weighing in on the conversation, it seems like stablecoins are on a precipice,” says Scott Johnson, Vice President of Technical Program Management at Convera. “Ultimately, their mainstream adoption will hinge on a regulatory environment flexible enough to support innovation while reassuring both businesses and consumers that stablecoins are safe and trustworthy.”
For global businesses, stablecoins offer substantial advantages over traditional cross border payment systems. Traditional banking systems can take days to process cross-border transactions, while stablecoins leverage the blockchain to settle almost instantly, offering enhanced cash flow and reduced counterparty risk. Additionally, transaction costs can be significantly lower — some estimates suggest savings of up to 80% compared to traditional methods that often involve multiple intermediaries and hefty fees.
Stablecoins also offer increased accessibility for markets with limited banking infrastructure, helping businesses in underserved regions engage in international trade more easily. By providing an alternative to traditional banking systems, stablecoins are helping drive financial inclusion on a global scale.
The road ahead for stablecoins
While stablecoins present significant opportunities, they also pose challenges for financial institutions. Traditional banks face hurdles adapting to the round-the-clock nature of blockchain transactions, and concerns about regulatory uncertainty persist.
As the regulatory landscape matures and more financial institutions integrate stablecoins into their infrastructure, this stabilized cryptocurrency is poised to move from niche buzzword to mainstream financial tool. With the potential to transform the global payments system, stablecoins are quickly becoming a key player in the future of digital finance.
Blockchain: Rethinking corporate treasury management through decentralized finance
As blockchain technology continues to evolve, its potential to revolutionize corporate treasury management is becoming increasingly evident. No longer just a buzzword in fintech circles, blockchain is being recognized for its capacity to streamline cash flow management, reduce operational costs and improve risk mitigation strategies, particularly with cross border payments.
Treasurers have long juggled multiple currencies, competing payment systems and varying regulatory environments, all while managing liquidity, forecasting cash flow, and minimizing risks. Factors like inflation, exchange rate fluctuations and geopolitical instability further complicate cash management, creating the need for real-time insights. Cross border payments, in particular, suffer from a lack of speed and transparency, leading to inefficiencies and risks. These challenges have made treasury functions one of the most operationally intensive aspects of financial management.
Blockchain technology offers a promising solution to these persistent challenges, as a secure and transparent online ledger that records transactions across a distributed network of computers. The Blockchain provides three key advantages:
- Decentralization: Removing intermediaries
- Immutability: Protecting against fraud
- Transparency: Increasing trust by providing an open, verifiable record that ensures compliance
For treasury functions, one key benefit of blockchain stands out — it enables near-instant cross-border settlements. This capability allows treasurers to manage liquidity more precisely, ensuring that operational costs are reduced, while funds are available when and where they’re needed.
Another crucial benefit of blockchain is its potential for “atomic settlement.” This means that transactions can settle simultaneously for all parties involved, reducing the risk of settlement failure and counterparty risks, a significant concern in treasury operations.
Smart contracts and tokenization
A particularly exciting aspect of blockchain for treasury management is the use of smart contracts that automatically execute and enforce agreements based on predefined rules. For treasurers, this means transactions, such as supplier payments, can be automatically triggered when conditions are met, reducing the need for manual intervention, lowering operational costs and ensuring more efficient liquidity management.
Tokenization, or the creation of digital representations of physical assets on the blockchain, is another area where blockchain is transforming treasury functions. By turning assets like currency, real estate or stocks into tokens, businesses can engage in real-time transactions that were once a significant challenge.
The future of blockchain in treasury management looks bright. As regulatory clarity improves and organizations overcome technical barriers uptake is expected to increase driving efficiency and profitability in cross-border payments.
Convera: Your partner for the future of cross border payments
The global payments ecosystem is experiencing a major shift with businesses, institutions and consumers demanding faster, more cost-efficient, and transparent transactions. As organizations adjust to new requirements, Convera is here to facilitate global growth.
- Access a global network: Our vast network of banking partners and local payment capabilities in over 200 countries and territories enables businesses to reach more customers and suppliers efficiently and cost-effectively.
- Process fast, transparent payments: ISO 20022 compatibility for seamless payment processing helps your business grow internationally with efficiency and control.
- Mitigate currency risk: Our currency risk management experts help businesses develop tailored strategies to manage FX volatility, forecast with confidence, and stay on top of cash flow.
- Streamline compliance: A robust compliance framework that helps you stay ahead of shifting U.S trade policies, sanctions, and fast-changing financial regulations.
- Less costs, more efficiencies: A robust infrastructure developed in collaboration with the world’s largest businesses, banks and fintechs helps automate manual processes and lower transaction costs.
- Simplify adoption and integration: Our cloud and API-based platform ensures seamless integration with tech stacks, for easy incorporation of global payments into your operations and product offerings.
Download part 2 of The Payments Pulse now and stay tuned for the final installment coming in September.
Want more insights into the topics shaping the future of cross-border payments? Tune in to Converge, with new episodes every Wednesday.
Plus, register for the Daily Market Update to get the latest currency news and FX analysis from our experts.
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