Taking fintech into new markets

Unlocking Global Payments: Fintech Leaders Share Insights on Crypto, Regulation, and Scaling Success

At Web Summit Qatar, Susan Li of Fox Business moderated a panel featuring Mr. Márlyson Silva, Chairman of Transfero Group, and Mr. Juan Pablo Ortega, Co-Founder and CEO of Yuno. The discussion began with Bitcoin’s recent price drop. Mr. Silva viewed this as a “promotional time” for buying, anticipating a rebound above $100,000, and confirmed his daily purchases. Mr. Ortega, however, remained focused on Yuno’s core mission, unconcerned by market fluctuations.

Mr. Ortega emphasized Yuno’s dedication to building the future of payments by increasing approval rates and aiding global company expansion. He explained that Yuno’s services, such as enabling essential ride-sharing top-ups in emerging markets like Indonesia, Africa, and Latin America, cater to fundamental daily needs. This focus on practical utility ensures Yuno’s business remains resilient, unaffected by broader economic downturns or stock market anxieties.

Addressing competition, Mr. Silva highlighted Transfero Group’s unique blend of payment infrastructure, regulatory licenses, and its own stablecoin, BRZ. This allows for efficient cross-border fiat-to-fiat conversions using stablecoins, offering speed and cost-effectiveness. He noted that while stablecoins are growing, they often integrate with traditional card networks, indicating a complementary rather than purely disruptive role.

Both executives agreed that regulation is increasingly beneficial, providing clarity and fostering a more equitable financial ecosystem. Mr. Ortega cited the US “Genius Act” as a positive example, offering clear guidelines for stablecoin companies and improving banking access. Mr. Silva detailed Transfero’s partnership with Circle’s CPN, enabling 24/7 USDC to BRZ conversions for Brazilian withdrawals, with regulatory clarity simplifying operations and tax compliance. Mr. Ortega suggested the US was prompted to regulate to avoid falling behind non-US stablecoin growth.

Discussing global expansion, Mr. Ortega shared his journey from co-founding Rappi, a successful Latin American super app, to building Yuno. His ambition was to create a global payment technology from Latin America, competing with established players worldwide. Yuno has strategically established its regional headquarters in Doha, demonstrating its commitment to Middle Eastern growth. Mr. Ortega clarified Yuno operates as a technology layer, an “AWS of payments,” supporting regulated entities.

Mr. Silva recounted Transfero’s organic global growth, initially aiming for local service in Rio de Janeiro. However, the company’s innovative blockchain and stablecoin technology, ahead of local regulation, necessitated expansion into Switzerland and Europe, now processing $2 billion annually. The panel then addressed fundraising, with Mr. Ortega acknowledging the difficulty in securing capital due to the overwhelming investor focus on AI companies, despite Yuno’s AI-native operations.

Mr. Silva offered a contrasting view, noting Transfero’s decade-long success without external venture capital. He emphasized that companies should prioritize market needs over fundraising, only considering investment if it brings significant ecosystem value. Regarding exit strategies, Mr. Ortega affirmed his dedication to building Yuno into the leading global payment infrastructure company, not pursuing an immediate exit, though open to IPOs or M&A under favorable terms. Both leaders concluded with advice: simplicity, boldness, persistence, dreaming big, and obsessing over product and customers to build future unicorns.