Emerging Market Opportunities: The Next Billion Customers

In regions like Africa, LATAM, and Asia, payments and remittances aren’t just about convenience - they’re economic lifelines. 

• Sub-Saharan Africa received $54 billion in remittances in 2023 (World Bank).

• Latin America and the Caribbean saw a record $155 billion (IADB). 

• Both regions continue to grow year-on-year - powered by money sent home from people working abroad, mobile wallets, and digital-first fintechs. 

Yet, despite this growth, access to efficient cross-border infrastructure remains limited. Traditional banking rails are often slow, costly, and uncertain. 

That’s changing. Stablecoins and new settlement technologies are removing the friction - tackling volatility, lowering transaction costs, and unlocking liquidity that used to get stuck in transit. This isn’t just an upgrade; it’s a complete rethink of how value moves globally. 

Mobile-First Inclusion 

In many emerging markets, people never “moved to digital” - they started there. 

In Kenya, over 80% of adults use mobile money, compared with less than 40% who hold a bank account (IDOS). Across sub-Saharan Africa, similar stories play out: mobile wallets are enabling access to payments, savings, and credit for millions who’ve never had a bank card. 

This mobile-first reality has changed how businesses are built. Gig platforms, remittance apps, and merchant payment APIs now run on mobile rails instead of bank rails - and it works. 

The next step? Making those local payment ecosystems truly global. That’s where alternative settlement rails and stablecoins come in - giving local innovators the ability to connect across borders with speed, transparency, and predictable liquidity. 

Unlocking the Next Billion 

The “next billion” digital consumers are global by default. They earn, spend, and send money across borders daily - but the systems that support them haven’t caught up. 

• Traditional cross-border transactions still cost up to 6% in fees on average, and often 8-9% in Africa (World Bank Remittance Prices). 

• Settlement can take days. 

• Volatile FX markets can erode profits overnight. 

Stablecoins and instant settlement rails flip that model. They offer speed, lower cost, and stability, helping businesses and individuals move value almost instantly. They also unlock working capital by reducing the time and uncertainty baked into the old correspondent banking model. 

This is the foundation of a new global payments system - one that doesn’t depend on legacy rails or slow intermediaries but is built on efficiency, resilience, and accessibility. 

The Barriers That Still Stand 

Of course, innovation never arrives without friction. 

Emerging markets remain complex to navigate. Regulation is fragmented; each jurisdiction has its own rules, capital controls, and licensing frameworks. At the same time, the global correspondent banking network has shrunk by around 25% over the past decade, as institutions “de-risk” from emerging markets. 

Add FX volatility into the mix - the Nigerian naira lost over 60% of its value against the USD between mid-2023 and mid-2024 - and it’s clear why profitability can vanish overnight. 

For fintechs and MSBs, success often comes down to three things: 

• Resilience - multiple settlement routes, currencies, and rails. 

• Compliance - local licences, strong KYC/AML processes, and transparent governance. 

• Partnerships - trusted local players who understand the market from the inside out. 

Those that underestimate the complexity often fail fast. The ones that thrive build flexibility into their infrastructure from day one. 

A Better Way Forward 

Stablecoins and alternative settlement rails are not a passing trend - they’re the foundation of a more inclusive financial system. But they only work at scale when paired with compliant, connected infrastructure. 

That’s what the next generation of payments needs: 

• Interoperability between fiat, stablecoins, and local systems. 

• Real-time visibility of liquidity and FX exposure. 

• Transparent, cost-efficient settlement that serves businesses and consumers equally. 

Emerging markets are showing the world what’s possible when technology meets need. With the right rails, we can finally make cross-border payments work the way they should - instant, predictable, and accessible to all.