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New forms of digital money including stablecoins, tokenised deposits and central bank digital currencies (CBDCs) could account for around 4 per cent of global payments volume by 2030, as businesses increasingly seek greater visibility, settlement certainty and liquidity control, according to a research report by Capgemini.
The report said the payments industry is moving beyond simply making money transfers faster, with accelerated intelligent money emerging as a new generation of payment instruments that combines value transfer, settlement and business rules in a single execution layer. However, adoption among banks remains at an early stage. Only 21 per cent of banks surveyed are currently actively scaling at least one accelerated intelligent money instrument, Capgemini said. The report identified stablecoins, tokenised deposits and CBDCs as the key instruments driving this shift. At the same time, corporate demand is increasing. Nearly 60 per cent of corporate clients said they would be willing to source stablecoin services from non-bank providers if their existing banking relationships fail to offer new intelligent money capabilities. This comes despite 60 per cent of banks having prioritised B2B payment innovation over the past three years, while only 32 per cent of corporate clients reported being satisfied with their primary banking partners. Capgemini said the disconnect reflects persistent operational challenges in corporate payments. A typical large corporation operates across 14 markets, maintains 11 banking relationships and conducts 34 per cent of its B2B payment volume across borders. About 74 per cent of corporates describe cross-border payments as slow, costly and unpredictable, while 55 per cent face reconciliation delays linked to legacy systems. The report noted that around USD 4 trillion is held globally in nostro and vostro accounts to support cross-border settlement, highlighting the capital tied up in existing payment infrastructure. Accelerated intelligent money could help improve settlement efficiency and liquidity utilisation when combined with AI-enabled decision-making and automation. Capgemini said banks will increasingly need to build capabilities around tokenisation, interoperability, governance and AI-enabled orchestration as payments move towards continuous execution. (ANI)
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