Stablecoin FX
How stablecoins move from payments to real currency markets. Berhan Kongel is one of nine executives interviewed, alongside leaders from Visa, Ubyx, Borderless, Agora and Qivalis.
“You are buying a currency just like you are buying a phone: who has the supply, who has the demand?”
Co-founder & CEO, Keyrails
“A clearing house is a consortium and an agreed rulebook. No single player can change it.”
Co-founder & CEO, Keyrails
“They merge. You have to merge them. There is no other way to do it.”
Co-founder & CEO, Keyrails
The Great Rail Shift
On the convergence of legacy infrastructure and stablecoin rails. The report cites Keyrails' use of its own attested SWIFT data to extend short-term USD credit to importers.
“As long as fiat and stablecoins, and now deposit tokens, live together, there needs to be centralization. You can't escape that.”
Berhan Kongel on Stabledash Live
From the Keyrails desk.
Stablecoins make global liquidity programmable, but trade still requires bank-grade settlement, compliant payment records, and real-world payment infrastructure.
Stablecoins are not just a payment innovation. They change how businesses manage liquidity, settlement windows, nostro balances, and treasury operations across borders.
Invite our founders to speak or contribute.
Panels, podcasts, research interviews and briefings.
Institutional rails for stablecoin money
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Keyrails Inc. is registered as a Payment Service Provider (PSP) under the Retail Payment Activities Act (RPAA) and is registered with the Bank of Canada and provides financial services through its registration with FINTRAC as a Money Services Business (MSB #M23573916), offering foreign exchange dealing, money transferring, dealing in virtual currencies, and payment services. Keyrails Inc. is also registered as a Money Services Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN) (MSB #31000319550919).
Keyrails US Inc. is a technology company based in Delaware, US, and does not provide financial services.
Keyrails Swiss GmbH, incorporated in Switzerland with the business identification number CHE-346.241.828 is a member of VQF SRO, an officially recognised self-regulatory organisation (SRO) according to the Swiss Anti-Money Laundering Act.