Borderless and Mastercard Join Forces for Cross-Border Payments Innovation

Kevin Lehtiniitty, co-founder and CEO of Borderless.xyz, recently spoke to CNBC TV 18 about his company's innovative approach to cross-border payments. Borderless provides a connectivity layer that links stablecoin-enabled Payment Service Providers (PSPs) for rails and liquidity.

In the pilot with Mastercard, Lehtiniitty explained how they've created a governance framework that allows PSPs to get compliant with 60 countries in one go. This eliminates the need for multiple KYB/KYC processes with locally regulated entities.

Lehtiniitty emphasized that while stablecoins are decentralized, the on- and off-ramp activities in various countries are done by centralized, locally regulated players. He sees this as an opportunity to bring traditional compliance frameworks into the stablecoin world.

The company's focus is on providing automatic forex routing, which has shown cost savings for corporates. Lehtiniitty believes that reliability, security, and compliance are more important than anything else in cross-border payments.