Mm.
The global payments industry is rapidly evolving, and large scale sector, it is a large scale sector characterized by a dramatic shift towards digital payment methods, and stablecoins are a key part of this digital payment feature.
Joining me to weigh in is Tom Warsaw, president and CEO of ACI Worldwide.
Tom, great to have you here.
Thank you so much for joining me.
So first, take us through the adoption of stable coins and also use cases.
Yeah, sure.
So stablecoins have a number of interesting use cases.
I think the most, the most impactful in the short term are likely to be cross-border use cases.
So for example, if you're trying to move money from a relatively thinly traded currency or a risky currency to previously it was pretty hard to move that money.
Um, and with stablecoin, it becomes much easier.
It takes it.
Uh, definitely can take a significant amount of the risk around liquidity, around the, the, the exchange rate risk, and many other types of risk out of the equation.
So we see at ACI a future for many different types of payments, and we're seeing, we're seeing stablecoins with getting lots of attention right now, tokenized deposits is another blockchain-based type of funds and banks like that because.
They can lend against it where with stablecoin it's you can't lend against it.
And then of course we've got real-time payments around the world.
So there are a lot of different ways that consumers and companies around the world can now move their money faster, more efficiently at lower costs, and it's a really exciting time to be part of the payments ecosystem.
Yeah, and Tom, can you tell us a little bit about some of the barriers as well as opportunities when it comes to innovation and payments?
Sure.
So, uh, one of the, one of the big challenges traditionally has been regulation and the, the, uh, the connectivity and alignment of various types of regulation.
Just as one example, uh, real-time payments have been taking off for, uh, for several years.
And if you look at countries like India.
And Brazil, there are hundreds of billions of dollars of real-time payments that are happening every year, and that gets even more interesting when you start to talk about cross-border remittances and real-time payment is the perfect way to do that, but it's been challenging because the regulators around the world have to align and coordinate.
The various rules, processes, and regulations to allow those transactions to happen across border.
That's one of the reasons I'm so excited about stablecoin because I think by its very nature, stablecoin takes some of the Risk out of the equation and makes the process a bit simpler.
So I believe it will facilitate faster adoption of cross-border real-time payments.
And so I think stablecoin will win.
I think real time payments will win, and I think ultimately consumers and companies around the world will win.
OK, Tom, we will leave it there.
So thank you so much for joining us today and I appreciate your time and all of your insights.
Thank you.
