Global trade is increasingly being shaped by risk rather than ideology. Tariffs, geopolitics, and regulatory pressure are pushing companies to redesign supply chains for resilience rather than pure cost efficiency. One corridor where this shift is becoming particularly visible is the Asia–Latin America route, where trade flows are expanding across more jurisdictions, counterparties, and currencies than ever before.

This evolving reality framed the first Stablecon Roadshow in Latin America, powered by VelaFi and Rain, held in Mexico City.

Operators, investors, and infrastructure builders gathered to discuss how cross-border payments must evolve to match the pace of modern trade.

During a fireside chat with Nik Milanovic, CEO of Stablecon, Maggie Wu, CEO and Co-Founder of VelaFi, shared why the Asia–LATAM corridor is becoming one of the most consequential trade routes in the global economy — and why financial infrastructure is still catching up.

The scale of the corridor explains why the discussion matters. According to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), trade between the United States and Latin America now exceeds $1 trillion annually, while trade between China and Latin America has surpassed $500 billion in recent years. These flows reflect deeper integration between Asian manufacturing ecosystems and Latin American markets.

At the same time, supply chains themselves are undergoing structural change. As Maggie noted during the discussion, nearshoring and friendshoring are no longer temporary responses to geopolitical tensions — they represent a deeper redesign of how companies structure global trade.

“Nearshoring is no longer a headline — it’s a structural redesign of supply chains,” she explained.

Yet financial infrastructure has not evolved at the same pace as global trade.

Cross-border B2B payments remain slow, opaque, and operationally intensive. Industry estimates suggest Straight-Through Processing (STP) rates in B2B foreign-exchange payments remain only around 25–30%, meaning most transactions still require manual intervention somewhere along the payment chain.

For companies managing global supply chains, this creates operational friction: delayed settlements, fragmented reconciliation processes, and working capital trapped in transit.

Maggie illustrated this challenge with two practical examples:

• The first is cross-border payroll. Multinational companies paying employees or contractors across Latin America often face settlement delays, unpredictable FX spreads, and recurring compliance friction through traditional banking channels.
• The second involves supplier payments across Asia–Latin America trade routes, where importers paying manufacturers in countries such as Hong Kong, Singapore or Vietnam must rely on correspondent banking chains involving multiple intermediary institutions. This can introduce delays, additional fees, and uncertainty around settlement timing.

Faster settlement can directly improve inventory turnover, strengthen supplier relationships, and significantly enhance capital efficiency across global supply chains.

In Latin America, in particular—whether for manufacturers in Mexico, commodity exporters in Brazil, or logistics hubs in Chile and Colombia—treasury teams often need to manage multiple currencies, maintain relationships with several banks, and navigate complex regulatory environments.

As a result, more companies are moving away from treasury models that rely solely on traditional cross-border settlement networks. Instead, they are adopting hybrid liquidity strategies that hold U.S. dollars, local currencies, and increasingly stablecoins, enabling faster settlement while reducing unnecessary foreign-exchange conversion costs.

These challenges help explain why stablecoin-based payment infrastructure is gaining traction in cross-border commerce.

The scale of the opportunity is substantial. According to analysis from FXC Intelligence, stablecoin infrastructure could address more than $16 trillion in cross-border payments in a base scenario, with potential to expand significantly as adoption grows across global trade corridors.

Industry research estimates stablecoin transfer volume reached approximately $27.6 trillion in 2024, surpassing the combined transaction volumes of global card networks such as Visa and Mastercard. Latin America has also become one of the fastest-growing regions for stablecoin adoption, driven by cross-border commerce, dollar demand, and the need for faster settlement infrastructure.

Rather than replacing traditional financial institutions, Maggie described stablecoins as a digital liquidity layer that complements existing financial systems by enabling faster settlement while still relying on regulated banking infrastructure for custody, compliance, and fiat conversion.

For businesses operating along the Asia–LATAM corridor — including logistics providers, importers, exporters, and cross-border commerce platforms — the benefits are increasingly clear: faster settlement, improved transparency, and reduced dependence on complex correspondent banking networks.

Looking ahead, Maggie suggested that the conversation around stablecoins is entering a new phase. "Stablecoins are moving from a crypto narrative to an enterprise infrastructure narrative," Maggie said. "In the near future, we expect them to become increasingly embedded in everyday financial activity."

The discussion at Stablecon Roadshow ultimately highlighted a broader reality: the trade corridor already exists. The financial infrastructure needed to support it at scale is only now beginning to emerge.

Sources & References

ECLAC – United States–Latin America Trade Developments: https://www.cepal.org/en/publications/68681-united-states-latin-america-and-caribbean-trade-developments-2023State Council China - Trade booms, investment accelerates as China, Latin America deepen ties: https://english.www.gov.cn/news/202505/23/content_WS68306217c6d0868f4e8f2c7b.htmlReuters – China–Latin America Trade Data: https://www.reuters.com/world/china/china-latin-america-trade-record-2024Kearney – Nearshoring in Mexico Report: https://www.kearney.com/service/strategic-operations/article/-/insights/nearshoring-in-mexicoFXC Intelligence – Cross-Border Payments Market Data: https://www.fxcintel.com/research/press-releases/new-data-cross-border-payments-market-now-worth-over-194tn-and-is-forecast-to-reach-320tn-by-2032Modern Treasury – Stablecoins in B2B Payments: https://www.moderntreasury.com/journal/stablecoins-in-action-b2b-and-b2c-paymentsArtemis Analytics – Stablecoin Market Data: https://www.artemis.xyz/research/stablecoin-volumeFXC Intelligence - The state of stablecoins in cross-border payments: The 2025 industry primer: https://www.fxcintel.com/research/reports/ct-state-of-stablecoins-cross-border-payments-2025