Digital assets & remittances: risk and innovation
Innovation success will depend on aligning all stakeholders within a shared digital ecosystem.
Panellists:
- Kaushik Sthankiya, Board Member, NED, Global Head of Banking and Payments, Kraken
- Marianne Webber, Head of Digital Asset, Market and Regulatory, Standard Chartered
- Tom Squire, Chief Revenue Officer, BCB Group
- Florent Antoni, Global Head of Wallet Partnerships, Ria Money Transfer
- Moderator: Liz Pfeuti, Rhotic Media
An engaging mid-afternoon panel explored how digital assets are reshaping cross-border payments, while also examining the regulatory and operational risks that come with innovation.
Delegates heard about what remittance means in today’s increasingly globalised economy, and whether global regulatory alignment is improving or becoming more divergent.
Panellists discussed how stablecoins can become a pathway for more varied financial services use cases. They then examined potential shifts in regulation and technology in the coming five years that will shape how remittance operates and the opportunities it may bring.
The session began by setting the scale of the opportunity, with digital remittances significantly outstripping cash-based transfers. Consumers increasingly expect money to arrive instantly, even if the underlying settlement systems are still catching up. One panellist described remittances as “a transfer of love”, with funds sent home often designed to cover rent, medical expenses and essential services. Thus, reliability and speed can be critical.
There was broad agreement that stablecoins are emerging as a powerful infrastructure tool. While much public discussion focuses on retail use, panellists emphasised that the real traction today is “under the hood,” improving liquidity management and settlement efficiency for providers.
They noted how global financial inclusion has become a key factor. For example, in many African markets, mobile money has leapfrogged traditional banking. One panellist observed that access to dollar-denominated stablecoins can offer protection against inflation and currency volatility, particularly where opening a bank account remains difficult.
The discussion then turned to how customer expectations are evolving. Remittances are no longer purely transactional, and there’s a growing demand for cross-border financial services beyond simply sending wages home – from paying mortgages and school fees to purchasing insurance products directly. While this creates opportunity, it also introduces new regulatory and risk considerations, especially when payments begin to resemble investment or yield products.
In an uneven global landscape for regulation, one panellist highlighted the need for a global, interoperable approach to regulating digital assets. While regulatory clarity is becoming a competitive advantage, the speed of technological change is outstripping supervisory processes. Banks are having to reposition themselves as intermediaries and more agile participants in digital asset ecosystems.
In future, panellists expect to see more collaboration between banks and digital asset firms rather than outright competition. While some questioned who would ultimately ‘win’, there was general agreement the future is likely to be hybrid forms of remittance rails rather than adversarial. Ultimately, consumers will care less about the underlying rails and more about speed, cost and reliability.
