We’re excited to host the next session of our FinTechFactory Lunchtime Series with
“Beyond Borders: Reimagining CBDCs, Stablecoins and RTGS for Cross-Border Settlement”
Date: 26 September, 2025 (Friday)
Time: 02:00 PM to 03:00 PM SGT
Presenter: Boonthicha Sae-Jia, NUS PhD Student
This session examines the evolving landscape of cross-border payments amid the pressures of globalization, trade growth, and regulatory scrutiny. Despite existing infrastructures, today’s cross-border transactions remain costly and slow, prompting experimentation with upgraded RTGS systems, retail fast-payment linkages, stablecoin solutions, and wholesale CBDCs. Drawing on a literature review, the study situates CBDCs and stablecoins as competing yet potentially complementary models for international settlement. The discussion raises critical questions: Should central banks retain control through CBDCs, or cede ground to private-sector stablecoins? Can SWIFT reinvent itself, or will programmable payment systems displace its dominance? Ultimately, the work reframes cross-border settlement as a contest of design choices—between sovereignty and efficiency, interoperability and fragmentation—offering insights into the future architecture of global digital finance.
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