Welcome back!

This week, Nik Milanovic sits down with Sandeep Pyapali, Founder and CEO of Mesta, a global cross-border payment network combining traditional rails with stablecoin systems.

Mesta allows sending USD and stablecoins in over 50 currencies, cutting international payment costs by over 50%. Pyapali, with 17 years in payments – including Uber's $100 billion payment network – founded Mesta in 2024.

Pyapali emphasized the importance of stablecoins for efficient international payments and predicts the growth of non-USD stablecoins. Mesta aims to disrupt traditional Fiat-to-Fiat payments with blockchain technology. Pyapali's vision for Mesta was informed not only by his time building payments systems at Uber but also by his international travel on a sabbatical afterwards, and the difficulty of converting currencies for international payments.

You can learn more about what they're building at mesta.xyz

🎧 Mesta CEO Sandeep Pyapali on how stablecoins are already changing the future of payments

This Week in Fintech’s Podcast · Episode

Spotify

🎧 Mesta CEO Sandeep Pyapali on how stablecoins are already changing the future of payments

Podcast Episode · This Week in Fintech’s Podcast · 09/01/2025 · 43m

Apple Podcasts

Episode Summary

Introduction to Mesta and Stablecoins

• Nik Milanovic introduces the podcast and Sandeep Pyapali, CEO and founder of Mesta.
• Mesta is building a global cross-border payment network combining traditional payment rails with stablecoin blockchain payment systems.
• Nik highlights the importance of stablecoins from the conference "Stable Con" and the growing interest in stablecoin products.
• Speaker 1 provides a disclaimer about the content of the podcast.

Advantages of Mesta Over Conventional Payment Providers

• Speaker 2 explains the advantages of Mesta, including sending USD and stablecoins in over 50 currencies, cutting international payment costs by over 50%, and eliminating payment delays.
• Stablecoins are expected to alleviate conventional pain points for merchants.
• Sandeep Pyapali is invited to join the discussion and share his background.

Sandeep Pyapali's Career Background

• Sandeep Pyapali shares his 17-year experience in building payment systems across the world, including his time at Uber, Bill.com, and PayPal.
• At Uber, he built the Uber payment network, which moved $100 billion annually in 70+ countries and executed 25 million transactions daily.
• Sandeep discusses the challenges of building cross-border payment systems at Uber and the inefficiencies of existing technologies.
• His experience led to the idea of building a faster, cheaper, and more efficient global cross-border payment system, which eventually became Mesta.

Challenges of International Payments and Influence of Travel

• Sandeep Pyapali discusses the challenges of international payments, including the difficulty of using local payment systems in different countries.
• He shares his experience of traveling to 10 different countries and the challenges faced with local payment methods.
• The inefficiencies of existing technologies and the desire to build a more efficient global cross-border system influenced the creation of Mesta.
• Sandeep emphasizes the importance of combining Fiat and stablecoins to address the needs of both international travelers and local economies.

Inspiration and Vision for Mesta

• Sandeep Pyapali explains the inspiration for Mesta, which started in 2023 and launched in 2024.
• The goal was to combine traditional payment methods with blockchain technology and stablecoins to create a more efficient payment system.
• Sandeep highlights the importance of having the right token on the blockchain, which stablecoins provide.
• The tri-factor of blockchain, regulation, and high liquidity of stablecoins made it the right time to build Mesta.

Regulatory Environment and Market Adoption

• Sandeep Pyapali discusses the regulatory environment for stablecoins, particularly in Europe and the United States.
• He highlights the importance of clear regulation for stablecoins and the impact of the Genesis Act in the United States.
• Sandeep expects more banks and non-banking financial institutions to adopt stablecoins and work with companies like Mesta.
• The future of stablecoins includes more banks introducing their own stablecoins and the growth of non-USD backed stablecoins.

Scaling and Challenges of Mesta

• Sandeep Pyapali shares the challenges of scaling Mesta, including building payment systems without using archaic forms of payment like wires.
• Mesta's focus is on converting stablecoins to Fiat and using local payment rates to send Fiat to beneficiaries' bank accounts.
• The company has processed over $80 million in total payment volume and currently processes $1.5 to $2 million daily across multiple currencies and blockchains.
• The challenge is to ensure reliability, scalability, and profitability while maintaining compliance with regulations.

Anti-Fraud and KYC Measures

• Sandeep Pyapali discusses the anti-fraud and KYC measures implemented by Mesta to ensure compliance.
• The company uses real-time screening of wallets and multiple hops to detect suspicious transactions.
• Mesta has built a robust internal risk transaction monitoring engine to prevent suspicious transactions.
• Compliance is paramount for the company to ensure reliable and secure transactions.

Vendors and Service Providers

• Sandeep Pyapali mentions the vendors and service providers that have been helpful in scaling Mesta.
• AI Price is used for KYB/KYC, and Merkle Science for blockchain analysis.
• These companies have worked well in providing global coverage and real-time transaction monitoring.
• The goal is to integrate these systems seamlessly on the Mesta payment network.

Future of Mesta and Tokenized Assets

• Sandeep Pyapali outlines the future plans for Mesta, including the introduction of more currencies and use cases.
• The company aims to provide named USD bank accounts to individuals and businesses globally.
• Mesta sees the future of financial services involving the digitization of real-world assets on the blockchain.
• The company will continue to focus on reliability, scalability, and profitability while building capabilities for efficient money movement.

Impact of the Genesis Act and Stablecoins

• Sandeep Pyapali discusses the impact of the Genesis Act on the payment industry and Mesta.
• The Act will increase the number of banks open to working with fintechs like Mesta.
• More banks and non-banking financial institutions will adopt stablecoins, leading to the growth of on-chain Forex.
• The future of stablecoins includes the introduction of non-USD backed stablecoins and the efficient conversion of Fiat to Fiat using stablecoins.