At an OKX NOW conference panel titled "Who Will Build the Next Financial System?", Mastercard Executive Vice President for Blockchain and Digital Assets Raj Dhamodharan said the underlying rails for payments are likely to change over the next decade, with stablecoins and other new technologies used more in the background rather than as the visible consumer-facing layer. He said what will not change is the need for simplicity and trust in the user experience. Dhamodharan also argued that the idea of stablecoins enabling "near-zero-cost transfers" captures only part of the picture. In cross-border payments, he said, local liquidity and compliance frameworks still need to work together across multiple layers, adding that the payment rail is only one ingredient. On the same panel, OKX Global Managing Partner and CMO Haider Rafique shared two industry figures, saying the global stablecoin market is about $250 billion and that the number of crypto users has surpassed 700 million. He also confirmed that OKX Card uses the Mastercard network exclusively in markets including Europe, and said the two companies are exploring cooperation in payments, collections and disbursements, and AI agent-driven commerce.
ChainCatcher reported from the OKX NOW conference that Raj Dhamodharan, Executive Vice President for Blockchain and Digital Assets at Mastercard, used a panel titled "Who Will Build the Next Financial System?" to outline how he sees payments changing over the next 10 years.
He said the underlying rails will change, and that stablecoins and other new technologies will be used more behind the scenes. What will stay the same, he said, is the need for simplicity and trust in the user experience.
Dhamodharan added that the idea of stablecoins enabling "near-zero-cost transfers" only describes the surface level. For cross-border payments to work in practice, local liquidity and compliance systems still need to coordinate across multiple layers. "The payment rail is only one ingredient," he said.
OKX shared two market figures on the panel
Speaking at the same session, OKX Global Managing Partner and CMO Haider Rafique said the global stablecoin market is about $250 billion and that the number of crypto users worldwide has exceeded 700 million.
Card network and new areas of cooperation
Rafique also confirmed that OKX Card uses the Mastercard network exclusively in markets including Europe. He said the two sides are also exploring cooperation in payments, collections and disbursements, and AI agent e-commerce.
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