Most businesses in MELD's data convert stablecoins into fiat immediately after transactions settle, according to co-founder Pankaj Bengani in an interview with Cointelegraph cited by PANews on Oct. 1. The companies primarily use stablecoins (digital tokens designed to track fiat value) for cross-border commercial payments rather than to maintain exposure to crypto assets. Bengani said stablecoins are unlikely to replace SWIFT (the global bank messaging network) in the short term, but could reduce intermediary steps involving correspondent banks. Banks would still have roles in custody, compliance, liquidity and local settlement.