In addition to launching our white paper with Money20/20, we were also on the ground at Money20/20 Asia for detailed meetings, engaging connections and insightful discussions, in an event that provides some significant insights into how the region is engaging with payments.
Money20/20 Asia was bustling with activity, with serious deals happening alongside more exploratory discussions. Interestingly, this was the most stablecoin-heavy of the three conferences, with the topic coming up more than any other in discussions.
There were a high number of digital asset players alongside fiat-led providers, particularly those that focus on emerging markets, and the topic was a popular one on stage in industry panels.
Asia is further along on the stablecoin and tokenised deposit journey than any other region, and it clearly shows in both who is doing business and what discussions are being prioritised. However, while there was a clear sense of the potential of the technology, the feeling that it is only part of a much broader and fiat-led picture remains.
Beyond stablecoins, cross-border payments is an even greater priority in this region than others, and was centred in panel discussions, announcements and exhibitor stands. This is reflected not only in technology discussions, but in the blend of different types of attendees, with banks and policymakers rubbing shoulders with fintechs and Web3 players from across the region.
News highlights from Money20/20 Asia
Every Money20/20 is home to product announcements, and Asia was no different. Here’s some of the main highlights that caught our attention:
- dLocal announced the launch of Stablecoin Full, a full-service stablecoin solution designed to enable merchants to collect, convert and pay out funds in stablecoins in 44 different emerging markets. The company also announced a partnership with stablecoin and fiat-focused B2B cross-border payment and settlement platform Damisa to expand the latter’s cross-border settlement across Asia-Pacific.
- Thunes announced the expansion of its Direct Global Network to add direct, real-time Pay-to-Bank services into New Zealand. South Korean player WireBarley also announced a partnership with Thunes that is designed to increase the speed of transactions on key corridors.
- EBANX announced the expansion of its recurring alternative payments methods to the Philippines, Indonesia, Thailand, South Africa, Colombia and Peru.
- LianLian Global announced a strategic remittance partnership with UK fintech USI Money to enable near real-time cross-border transfers and enhance its remittance ecosystem.
- Thai remittances player DeeMoney announced the launch of a cross-border QR payment solution and the exploration of stablecoin-based transfers with the Bank of Thailand.
- Fiat-stablecoin player MetaComp announced StableX Know Your Agent Framework, an AI agent governance framework targeting payments, compliance and wealth applications.
