Crypto rails for cross-border payments

If you’ve been in the industry long enough, you’re well aware of the debate surrounding crypto — particularly Bitcoin. To hold or spend?

Could this be the reason behind late mass adoption?

Legacy payment rails vs crypto rails?

According to a 2024 report, nearly 40% payment firms have lost out on business deals due to cross-border issues.?

It’s not surprising that multi-intermediary processes, such as SWIFT, cause delays and expenses that crypto can otherwise solve. With near instantaneous transfers and low transaction fees, crypto rails has the potential to become a global payment solution.

But here’s the caveat.?

It can only become so when it gains widespread legitimacy — meaning an increase in merchant acceptance.?

The chicken and egg problem?

Crypto rails are yet to gather steam because fewer merchants accept it… because fewer people make crypto payments.

Economically unstable markets can largely avoid unnecessary FX fees and delays if they switched to crypto. Even SpaceX uses stablecoins to avoid unnecessary wire transfer complications.

So what’s the way out?

Integrating traditional payment systems with crypto functionalities can improve interoperability — thereby enabling adoption.?

SEPA onramps and crypto debit cards are good examples of how interoperability can make crypto spending easy and practical for daily transactions. And Striga has solutions for all things crypto. Because businesses shouldn’t slow down in the face of regulatory complexities or shifting technologies.