Analysis

Central bank governors' live card payment, barq's $329.5m Series A and a new SME financing fund made Money20/20 Middle East's second day about capital.

Tabby's $6.5bn valuation, a SAR 500m SME financing fund and payouts into six new markets opened Money20/20 Middle East, each built on a licence.

What a stablecoin is, what backs the dollar, why $300bn now sits in them, and how the US, EU and UK rules written in the last two years change the picture.

Follow a payment from Manchester to Lagos to see where the stablecoin removes the correspondent banks, what it costs, and why the last mile is still hard.

A tokenised deposit is a bank's own money on a shared ledger. Here is how it differs from a stablecoin, who has one live, and why the two will coexist.

Take one card payment apart: interchange to the issuer, scheme fees to Visa or Mastercard, margin to the acquirer, and why the new rails are aimed at all three.

Global investment incentives reshape the chip-fab map.