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Welcome to Xchange by Money20/20 Middle East – where money meets ideas. 

Bold thought

In MENA fintech, borders aren’t the constraint – flows are. And increasingly, capital is backing the startups that understand the difference. 

Snapshot

Cross-border payments reform has momentum – but the outcomes aren’t where they should be yet. The Financial Stability Board has been clear that progress on the G20 roadmap hasn’t yet translated into tangible improvements for end users. Costs remain high, settlement is uneven, and transparency is patchy.

At the same time, economic reality is pulling capital in a different direction. Asia-GCC trade already exceeds $130 billion annually, and remittance corridors linking the Gulf to South Asia and Africa continue to move hundreds of billions of dollars each year. Where flows are deep (and persistent), fintech infrastructure gets built faster, scales sooner, and attracts more patient capital.

In short: corridors are doing what policy alone hasn’t yet delivered.

Voices

Andrew Bailey (Chair of the FSB and Governor of the Bank of England):

“Faster, cheaper, more transparent and more inclusive cross-border payment services, including remittances, while maintaining their safety and security, would have widespread benefits for citizens and economies worldwide, supporting economic growth, international trade, global development and financial inclusion.” (Source: Bank of England)

Han Kwee Juan (Group Head of Institutional Banking at DBS):

“Right now, you see the Chinese exporters, some are beginning to ask and say, ‘I’m going to sell in RMB, please settle in RMB.’” (Source: this interview with Reuters)

What to watch and do

• Watch: Corridor-first partnerships. Bank-bank and bank-fintech tie-ups targeting specific routes (like Asia-GCC or GCC-Africa) are multiplying.
• Watch: Exit logic returning. Capital is warming to fintechs that can show scale beyond one market and a credible liquidity path, whether via M&A or public markets – as seen with companies like Tabby.
• Do: If you’re a founder, stop pitching geography as if it’s a constraint. Pitch the flow you serve, why it’s structurally resilient, and how regulation helps rather than hinders you.
• Do: If you’re a policymaker, ask whether regulation accelerates the corridors that are already forming, or forces workarounds. 

Further reading…

• G20 roadmap for cross-border payments – Financial Stability Board, 2025
• DBS and Banque Saudi Fransi boost Asia–GCC payment flows – Reuters, 2025
• Remittances to LMICs surpass FDI – World Bank
• Gulf fintech Tabby doubles valuation ahead of IPO – Reuters, 2025 

Tell us what you think 

What corridor do you think capital is underestimating right now? Open this newsletter on LinkedIn and tell us in the comments – because Xchange is always better when we add more voices to the mix.

Catch you next week,

The Money20/20 Middle East Team