The B2B cross-border payments market is growing: in 2024, it moved US$ 31.6 trillion, and by 2032, the FXC Intelligence research platform projection is that it will grow to US$ 50 trillion. This value encompasses transactions from companies of different sectors and sizes, involving both goods and services.
With the new global remote work models, cross-country hiring has also started to involve different currencies in salary payments. This niche, of freelancers and contractors receiving payments from foreign companies, drives international B2C payments, which are expected to reach US$ 4.4 trillion by 2032 (a 131% growth from 2024), according to the research.
When it comes to salary and payment receipt scenarios, it is certain that fluid and economical experiences will be a necessity for professionals, who are also consumers.
“People no longer want lengthy and expensive experiences, they want to move their money freely and without costs, yet still backed by secure banking systems. A resource that enables this is stablecoins, which facilitate this boom of digital financial solutions,” explains Teymour H. Farman-Farmaian, CEO and co-founder of Higlobe, a fintech for Brazilian professionals who receive dollars from international companies.
This digitization of solutions has replaced well-known models such as SWIFT and traditional banks. Models that bring speed and low cost are emerging, such as ACH transfers to US accounts and infrastructures based on blockchain and stablecoins.
A stablecoin is a digital currency with a value pegged to a common currency, such as the real or the dollar. It is backed by equivalent reserves in secure assets, such as cash or government securities, in a 1:1 ratio. Holding stablecoins in digital wallets allows for quick and secure sending and receiving of values, even between countries. Fintechs like Higlobe use this technology to facilitate international payments.
“We are able to offer a more economical, secure, and fast alternative to the traditional system: our customer has a cost of only 0.3% to convert their salary from dollars to reais. We serve the fastest-growing sectors in the cross-border payment market, with Brazilian professionals and SMEs as our main audience. We have good expectations until the end of the year, as we are organically growing at 20% per month,” comments the fintech CEO, who also serves Argentina, Mexico, and the Philippines.
In addition to the financial importance in this ecosystem, Brazil also has a good professional reputation. A Deel report shows that in 2024, hiring of Brazilians by foreign companies increased by 53%, placing it as the 5th country with the highest number of hires. The United States, Switzerland, and the United Kingdom are the top countries seeking talent from Brazil.
“Remote work is a great enabler, and the Brazilian workforce is highly valued abroad for all the technical knowledge, language skills, soft skills, and other abilities. The growth of these cross-border payments, as well as global remote work, opens doors to this massive, more disruptive market in technology, professional opportunities, and economy among transactions,” Teymour adds.
