- Meet the Experts
Sagar Sarbhai Business Solutions Director丨Fireblocks
Kaj Burchardi Managing Director - Head of Emerging Technology Europe, Middle East, South America, Africa丨BCG
Cross-border payments make up a vast and often inefficient movement of money around the world. In 2021 alone, some $1.2 trillion in payments crisscrossed the globe. Among the challenges is that these transactions result in significant expenses for both financial institutions and users. Though the system has improved over the years, it remains far from perfect, and payers and payees would welcome a new way of cross-border payment.
A combination of digital assets and permissioned, decentralized finance (DeFi) may finally support a cross-border payment system that is faster, cheaper, and more verifiable.
During this webinar, two of the authors of the paper Revolutionizing Cross-Border Transactions with Permissioned DeFi discuss the proposed hypothetical payment model based on permissioned DeFi. For end users who make and take payments, the model offers more flexibility. For institutions that build this model, Know Your Customer (KYC) verification provides more control over payments.
Understanding how this new model works and the assets that firms need to participate is key to realizing its potential.