If a company has to pay a supplier in China in US dollars, they want access to a cheap and frictionless digital process – whether the currency they buy comes from a peer or not is beside the point.
That is the view of Philippe Gelis, CEO of Kantox, who describes the term P2P as irrelevant.
“It has some resonance for retail business, but we stopped using it some years ago when we discovered that even the largest banks are not able to match more than 25% of their trades, which basically means that a successful P2P model only matches one trade in every four,” he says.
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