Last week, we joined over 2,000 professionals at Fintech Connect Europe to hear more about some of the current trends and challenges in cross-border payments. Some of our main takeaways from the event are below. 

On 5 December, Bitcoin’s price surged past the $100,000 mark for the first time, and this was frequently mentioned by panellists as a sign of crypto’s potential for payments. Stablecoins and digital currencies were also key themes in the discussions, with a particular attention towards central bank digital currency (CBDC) projects. 

Here are some of our key takeaways from the event:

• Digital currency gained significant attention as a potential third payment option, alongside cash and traditional cashless payments (like card and mobile banking). Many speakers from corporate banks mentioned plans for tokenised assets and stablecoins, noting that they are currently looking into regulatory frameworks to better understand the opportunities and risks of the sector. However, full digitalisation of payments is expected to be a gradual process, similar to the adoption of AI.
• Central banks are expected to play an increasing role in cross-border payments, with CBDCs seen as a potential solution, though they may not fully address core issues in the space, such as high operational costs. The digital euro was considered the closest to reality, with several speakers believing that the European Central Bank could mandate that merchants accepting euros also accept the digital euro.
• Limited transparency remained a key concern for cross-border transactions. Many speakers anticipated stricter regulations in the space, particularly around anti-money laundering (AML) and Know Your Customer (KYC). There was also a concern on regulatory differences across regions and whether this would redefine how cross-border payments are interlinked in 2025.
• Card issuers noted innovative brand positioning by larger payments firms, with Visa and Mastercard, in particular, rethinking their identities to compete with new entrants. Within the card space, travel cards have seen a significant increase in usage since the post-pandemic era, but consumer demand remains seasonal.

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Niece Prayoonrat

Niece is a Data Journalism Intern at FXC Intelligence, writing reports and analysis to support the company’s weekly content and projects. She has a passion for finding insights and telling stories from financial data. She has an MSc in Media, Communication and Development from LSE and a BSc in Political Economy from King’s College London.