Stable Talks: Episode #02 – Josh Solesbury (ParaFi)

In this episode of Stable Talks, Caio Barbosa sat down with Josh Solesbury, Vice President on the Investment Team at ParaFi Capital, to dive into one of the most promising frontiers for stablecoins: cross-border B2B payments and FX infrastructure.

The conversation explores the inefficiencies of the traditional correspondent banking system, why B2B payments remain largely broken for the long tail of businesses, and how stablecoins are unlocking new models for instant, programmable, and low-cost settlement.

🎧 Listen to the full episode below or read on for the main highlights of the conversation.

Highlights from the conversation

1. The Trillion-Dollar B2B Opportunity

“We’re talking about $150 to $190 trillion in annual cross-border volume. That’s where stablecoins can unlock a 10x better experience.”

— Josh Solesbury

• Why ParaFi’s payments thesis points to B2B as the biggest opportunity for stablecoin adoption

• How settlement delays, FX spreads, and capital inefficiency create massive friction

• The real pain points in trade corridors like Brazil–China and Latam–Asia

2. What’s Broken in Global FX Infrastructure

“One of the largest zones of economic activity is still extremely inefficient. That’s a paradox in today’s software-driven world.”

— Josh Solesbury

• How SWIFT, correspondent banks, and weekend delays inflate costs

• The architecture of global FX and why capital gets stuck

• The case for instant, on-chain stablecoin settlements as a new FX rail

3. Regulation and Compliance as Growth Enablers

“The best founders take a thoughtful but efficient approach to regulation.”

— Josh Solesbury

• The role of frameworks like the Travel Rule, Notabene, and AML compliance tools

• Why liquidity providers like banks will be key to solving the off-ramp bottleneck

• The promise of upcoming regulation in the US (like the Genius Act) and its global ripple effects

4. On-Chain FX and the Shift to Closed Loop Systems

“Eventually, we’ll move from the stablecoin sandwich to true stablecoin-to-stablecoin settlement.”

— Josh Solesbury

• What stablecoin FX really means, and what’s missing today

• How RTP (like Pix and UPI) and stablecoins can complement each other

• The “Skype analogy”: why closed-loop networks unlock the real cost advantages

5. Value Creation Beyond On/Off-Ramps

“Stablecoins are just the wedge. The next generation of financial experiences will be built on top of them.”

— Josh Solesbury

• The declining profitability of yield and why payments need value-added services

• The rise of stablecoin-native financial platforms, neobanks, and credit solutions

• How scale will offset lower take rates in the long term

6. Looking Ahead: Programmability, AI, and Financial Inclusion

“Stablecoins enable programmable money. That unlocks use cases we haven’t seen yet, and AI will need that infrastructure.”

— Josh Solesbury

• How smart contracts, real-time payments, and microtransactions will reshape financial access

• Why emerging markets will be the biggest winners in the stablecoin era

• The convergence of AI agents and stablecoins as a new economic paradigm

Stablecoins: From Infrastructure to Intelligence

This episode underscores what industry leaders have long suspected: stablecoins are not just a better settlement layer but a platform for building the next wave of financial systems.

The transition from friction to fluidity is already happening, and as regulation, liquidity, and programmability mature, the stablecoin stack will become the engine of global digital finance.

“If you’re in fintech, crypto, or even just getting started, take stablecoins seriously. This is where the next decade of infrastructure is being built.”

— Josh Solesbury (ParaFi Capital)

🔗 Caio Barbosa on LinkedIn

🔗 Josh Solesbury on LinkedIn