MELD Co-Founder: Most Businesses Convert Stablecoin Settlements to Fiat Immediately

Pankaj Bengani, co-founder of stablecoin payment firm MELD, stated that most corporate clients immediately convert stablecoins back to fiat after settlement. These businesses primarily use stablecoins for cross-border commercial payments rather than maintaining crypto exposure. Bengani noted that while stablecoins are unlikely to replace SWIFT in the near term, they may reduce the need for intermediary correspondent banks, with traditional banks continuing to play key roles in custody, compliance, and local settlement.