Tokenized Banks Have Stablecoin Whiplash & Conduit Raise $36M Ft. Farooq Malik, Gwera Kiwana and Kirill Gertman
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Jun 9, 2025 This discussion features Kirill Gertman, CEO of Conduit, which is pioneering B2B payments with stablecoins; Farooq Malik, co-founder of RAINN, focusing on stablecoin accounts in emerging markets; and Gwera Kiwana from Sling Money, facilitating cross-border transactions. They dive into Conduit's recent $36 million funding round, the potential of stablecoins in replacing traditional systems like SWIFT, and their role in optimizing business transactions. The trio highlights banking innovations sparked by stablecoins and the need for clearer regulations.
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Bolivian Stablecoin Use Case
- A user in Bolivia uses stablecoins via a Visa card to buy car parts online, finding it cheaper than traditional bank transactions despite merchant acceptance fees.
- This exemplifies stablecoins enabling immediate payment and real-world use cases globally.
Stablecoins Serve Swift-less Businesses
- Businesses without Swift network access in global south countries use stablecoins for cross-border payments.
- Examples include traders in Bolivia, airlines in UAE, and manufacturing plants in East Africa.
Stablecoins Evolve From Hedge to Payments
- Businesses initially adopted stablecoins to hedge against local currency devaluation and inflation.
- Stablecoins evolved from a store of value to enable instant cross-border payments for suppliers, vendors, and employees.