Blockchain technology is poised to reshape the future of payments and finance through its unique programmability and decentralized nature. One of its most significant advantages is the ability to settle transactions instantly, eliminating the delays and risks typically associated with traditional payment systems, especially in cross-border scenarios.

In this episode of the Asia Tech Podcast, Tianwei Liu, a co-Founder and CEO of StraitsX, discusses the evolving landscape of digital currencies, including stablecoins, central bank digital currencies (CBDCs), and tokenized bank deposits.

Some of the topics Tianwei covered in detail:

• Emphasizing how vital it is to empower developers with the right tools to innovate. By building better APIs, StraitsX opened up a world of possibilities for other entrepreneurs and engineers to create more efficient payment systems.
• Working closely with the Monetary Authority of Singapore (MAS) to ensure StraitsX' operations met regulatory standards. Tianwei explained how StraitsX was the first fintech in Singapore to be granted the widely accepted stored value facility license, which allowed them to scale operations.
• Stablecoins represent a significant evolution in the payment ecosystem, offering the benefits of blockchain technology while maintaining the stability of traditional currencies.
• Tianwei highlighted the immense potential of programmable money, which allows for the automation of business logic—such as expiration dates, discount vouchers, or conditional payments.
• Despite the complexity of blockchain and the technologies behind it, Tianwei believes the ultimate goal is to make these innovations invisible to the end user.