Stablecoins could finally bring cross-border payments into the digital age, argues XTransfer CEO Bill Deng

Fortune

by Nicholas Gordon

February 24, 2026

AI-Generated Deep Dive Summary

Stablecoins are poised to revolutionize cross-border business payments by modernizing a system that remains stuck in analog methods like PDFs and emails. According to Bill Deng, CEO of XTransfer, stablecoins—digital tokens pegged to traditional currencies such as the U.S. dollar—offer a faster, more transparent, and cost-effective alternative for international transactions. While consumer and peer-to-peer payments have embraced digital innovation, business-to-business (B2B) payments lag behind, often relying on outdated processes that slow down global trade. The current system leaves businesses negotiating deals through pro forma invoices and email exchanges, creating inefficiencies in a 24/7 global economy. Stablecoins, however, could bridge this gap by enabling instant cross-border payments. Despite the rapid growth of stablecoin adoption—now valued at $300 billion, up 75% year-on-year—only a small fraction ($390 billion annually) is used for cross-border transactions. This limited usage highlights the need for greater integration into global payment systems to unlock their full potential. Many small and medium-sized enterprises (SMEs), especially in developing nations, turn to informal “shadow banking” systems like hawala due to high fees and lack of access to traditional financial services. These systems, while faster and more accessible, are often exploited for illicit activities, prompting increased scrutiny from regulators. This creates a Catch-22: banks avoid serving SMEs due to compliance risks, pushing them further into informal channels. XTransfer, a China-based fintech platform founded by Deng in 2017, is leveraging stablecoins and AI-driven compliance tools to navigate the complexities of cross-border payments. By processing over $12 billion monthly for 800,000 businesses worldwide, XTransfer demonstrates how stablecoins can facilitate faster, cheaper, and more transparent transactions while meeting regulatory requirements. This approach not only supports SME growth but also

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Originally published on Fortune on 2/24/2026