Midnight and Axelar dey Explore Private B2B Payments Across Blockchain Networks

Midnight and Axelar dey explore possible work on private business-to-business payments wey go allow compliance checks across blockchain networks, Axelar Head of Growth Adam Oozeer disclose during one panel for XRP Seoul on October 3.

Oozeer join Midnight Foundation Japan Country Manager Taro Kimura and Biconomy co-founder Aniket Jindal to discuss the barriers wey dey block wider adoption of onchain finance. SCBX’s Ruam Siratanapanta moderate the panel as dem examine how users and institutions fit access tokenized assets, lending and payments across networks.

Midnight and Axelar Dey Explore Private Business Payments

Kimura explain say him conversations with banks, securities firms and other institutions dey always reach the same question: how dem fit use blockchain and still protect financial information?

Him compare public blockchain activity with conventional payments, where customers fit pay merchant without making their account details visible to everybody. For businesses, him add, transaction privacy still matter when payments fit reveal sensitive information about their finances.

Midnight wan provide privacy infrastructure across multiple ecosystems, Kimura explain, as him mention XRP, Ethereum and Bitcoin. Him describe one transaction wey information go remain private from other users but still dey available to government authority when dem require am.

Kimura note say prospective customers wey dey discuss stablecoin payment proofs of concept dey ask two things together: how to accept stablecoins and how to protect the information wey dey follow business transactions. Him describe the privacy part as problem wey people still dey address.

Later, Oozeer disclose say Axelar and Midnight dey look to work together on B2B payments with end-to-end privacy and auditable compliance. Him identify say to use that kind payments on a live blockchain, no be only proof of concept, na outcome wey him go like see within the next 12 to 24 months. Him no announce any product or launch date.

Simpler Applications Still Need Liquidity and Risk Controls

Jindal describe Biconomy work on infrastructure wey dey help applications operate across blockchain networks. The approach, wey people dey call chain abstraction, dey designed to handle steps like moving assets and managing transaction fees for background.

For him view, users suppose fit access financial products without needing to know which blockchain hold one asset or how the application dey execute each step. Him still point to how him dey use stablecoins for everyday expenses for Dubai and connect adoption there partly to clearer regulation.

Oozeer explain say to simplify application no mean say the work behind transaction disappear. Instead, responsibility for that work go move to other participants. For some systems, liquidity providers wey dem dey call solvers go take execution risks in exchange for payment.

Him still warn say users fit face hidden risks if dem no know which route transaction take or which protocols and assets dem dey exposed to when dem deposit funds into lending or yield product.

For Oozeer, interoperability must still connect assets with usable financial markets. One tokenized asset fit dey accessible across networks, but e still need liquidity and services like lending markets wey go accept am as collateral. Institutions, him add, want controls and compliance requirements to continue to apply across the networks wey involve.

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Connecting Tokenized Money, Investments and Credit

Siratanapanta present one potential customer journey wey go combine several services: to use tokenized money or stablecoin buy tokenized investment for another network, then use that investment as collateral for loan.

Jindal describe how person fit buy tokenized assets with stablecoins after identity checks. Him still identify onchain credit, liquidity and connections to traditional brokerages as areas wey still need more development.

Biconomy don dey work to connect banks and traditional brokers with onchain wallets and brokerage services, Jindal add. Him still point to neobanks and new investment products as possible ways to bring digital assets reach more users.

Oozeer outline several ways wey the proposed customer journey fit work across networks. Funds fit move between chains, or one intent-based system fit execute multiple actions after single user instruction. Him still describe one model wey asset go remain locked for one network while dem use representation for another, with the protocol wey go manage liquidity and potential liquidations.

For institutions, Kimura describe one process wey fit bring together customer and business verification, asset information and transaction history before dem approve cross-border transfer. The user-facing experience fit then show say the necessary checks don complete.

As dem look ahead, Kimura focus on discussions with prospective customers for Japan. Him approach na to first identify the problem wey institution wan solve, then determine whether blockchain dey suitable for that use.