Pankaj Bengani, co-founder of stablecoin payments company MELD, stated that the vast majority of businesses convert stablecoins back to fiat currency immediately after transaction settlement. According to MELD's internal data, merchants primarily utilize stablecoins for cross-border commercial payments rather than maintaining cryptocurrency exposure on their balance sheets. Bengani indicated that stablecoins are unlikely to replace SWIFT in the short term but may reduce reliance on correspondent banking intermediaries. He emphasized that traditional banks will continue to play essential roles in custody, compliance, liquidity provision, and local settlement within the evolving digital payments infrastructure.