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Rahul Mudgal

Global Marketing Director - SaaS - Payments - CMO Council - Futurist - Elevating brands, amplifying demand

Rahul Mudgal is a growth leader and influencer with a background in various high-profile companies such as Ripple, Superscrypt, NTT, and Mercer. He is recognized as a LinkedIn Top Voice and is known for his expertise in go-to-market strategies. Additionally, he serves as an advisory board member and is self-employed as a fractional Chief Marketing Officer (CMO) and adviser.1

Highlights

Sep 11 · linkedin

MUFG, SMBC, and Mizuho, the megabanks of Japan, are piloting a cross-border stablecoin transfer platform. The “Project Pax” initiative will use stablecoins issued by bank-backed Progmat and run by Datachain and TOKI. It will use SWIFT's existing APIs to settle on blockchain networks and be commercialized by 2025. The Japanese banks are keen to embrace the four tenets adopted by the G20 nations in facilitating cross-border transfers – cost, speed, access, and transparency. In traditional use cases of stablecoins centered around the digital asset market, the focus has been P2P transfers without intermediaries. However, in the context of cross-border remittances in the real economy, the roles of Swift and banks remain crucial due to considerations such as AML/CFT, regulatory compliance, operational frameworks, and the challenges businesses face in using web3 wallets. This pilot can potentially pave the way for a new global standard for international payment networks using stablecoins! #tokenization #everyassetonchain #stablecoins #usdc #usdt #pyusd https://lnkd.in/eWTWDXKR

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Rahul Mudgal
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Location

Singapore