Chris Harmse

speaker

201 appearances 1 recordings 1 series first heard Jun 2025 last heard Jun 2025

Chris Harmse’s voice in public audio — every appearance, attributed to the second.

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Off the Rails from the U.S. Faster Payments Council - FPC · 12 June 2025 Chris Harmse of BVNK on stablecoins, cross border payments, and skydiving · 12 Jun 2025 podcast

They lack transparency.

tracking and payment statuses and you know it's almost like send and hope um you know doing an international wire today which is pretty crazy in 2025 enter stable coins and they kind of address all three of these you know on the speed or the slowness element these are a 24 7 365 always on payment trail that don't work in you know they don't need banking hours or you know work banking hours and holidays

It's near instant settlement, which kind of moves, depending on the blockchain you choose, moves things from days to minutes.

They're transparent.

You can see these real-time payments and view them on the blockchain as they are happening real-time.

So you know at every point in the payment lifecycle where that payment is, not this, hey, we need to chase this payment down and try to figure out where in the pipes it's actually stuck.

And then, you know, lastly, that significantly lowers costs when we reach, you know, sufficient liquidity in a corridor.

You know, as you start out, you need to build up liquidity, liquidity, you know, lowers costs.

And we're starting to see that flywheel starting to kick in in many corridors today.

So it really does address those three points, slowness, expensive, you know, limited transparency and opaqueness of traditional cross-border money movement.

And actually, finally, there's one more thing that makes them super cool, which is they are programmable, where you can actually fundamentally add metadata into a payment and start making execution, build execution logic for certain types of transactions.

So think about a house closing, a payment could transfer if a house is closed.

So almost like if then statements can be built into a payment, which is pretty cool.

So today we specifically see a lot of B2B use cases popped up, but B2C as well, and I'll kind of talk through them.

So on the B2B side, about half of the 12 billion of annualized payments volume we do today is clustered in this B2B.

And that's typically a starting point for a business.

That's testing out stablecoins.

They would look at doing vendor payments or settling partners or suppliers in stablecoin.

Again, stablecoins shine on the cross-border element.

And then even to the point where PSPs, so traditional merchant acquirers and PSPs are starting to settle their merchants,

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