The market for cross-border B2B payments, also known as cross-border, is growing: in 2024, it moved $31.6 trillion, and by 2032, the projection by research platform FXC Intelligence is that it will grow to $50 trillion. This value encompasses transactions from companies across different sectors and sizes, involving both goods and services.
With the new global remote work models, hiring between countries has also started moving different currencies in salary payments. This niche, of freelancers and hires who receive payments from foreign companies, is one that drives international B2C payments, which are expected to reach $4.4 trillion by 2032 (a 131% growth compared to 2024), according to the research.
When the scenario involves salary and receiving payments, it is certain that smooth and cost-effective experiences will be a necessity for professionals, who are also consumers.
“People no longer want slow and expensive experiences; they want to move their money freely and without costs, but still backed by secure banking systems. A resource that enables this are stablecoins, which enable this boom of digital financial solutions,” explains Teymour H. Farman-Farmaian, CEO and co-founder of Higlobe, a fintech for Brazilian professionals who receive payments in dollars from international companies.
This digitalization of solutions has been replacing well-known models, such as SWIFT and traditional banks. Therefore, models that offer speed and low cost—like ACH transfers to US accounts and blockchain and stablecoin-based infrastructure—are gaining traction.
A stablecoin is a digital currency with value pegged to a common currency, such as the real or the dollar. It is backed by equivalent reserves in secure assets, like cash or government bonds, at a 1:1 ratio. Storing stablecoins in digital wallets allows sending and receiving funds quickly and securely, even between countries. Fintechs like Higlobe use this technology to facilitate international payments.
“We can offer a more cost-effective, secure, and fast alternative compared to the traditional system: our clients only pay 0.3% to convert their dollar salary into reais. We serve the fastest-growing sectors in the cross-border payments market, with Brazilian professionals and SMEs being our biggest audience. We have good expectations for the end of the year, as we’re growing organically at 20% per month,” comments the fintech’s CEO, who also serves Argentina, Mexico, and the Philippines.
Beyond financial importance in this ecosystem, Brazil also has a strong professional reputation. A Deel report shows that in 2024, hiring Brazilians by foreign companies grew 53%, making Brazil the 5th country with the highest number of hires. The US, Switzerland, and the UK lead among those seeking Brazilian talent.
“Remote work is a major enabler, and Brazilian labor is highly valued abroad for its technical knowledge, language skills, soft skills, and other abilities. The growth of these cross-border payments, along with global remote work, opens doors to this massive market, which is more disruptive in technology, professional opportunities, and transaction economies,” adds Teymour.
