BenPay Exclusive: Our Perspective on the Future of PayFi
In early October 2025, during the Token2049 event in Singapore, Odaily Planet Daily interviewed Pearce Chen, our VP of Business, about the PayFi industry, its challenges, and BenPay’s approach to crypto-native payments. The following reflects Pearce Chen’s insights shared during that interview.
The PayFi Industry and the Role of U Card
When people think of PayFi, they often think of the U card first. During the Odaily interview, Pearce Chen explained that while some players still rely on traditional card networks like Visa and Mastercard, BenPay has chosen a crypto-native path with BenPay Card:
“We combine QR code + POS machine or app scanning to enable direct payments in stablecoins, which are converted into local fiat through our settlement network. This allows us to build our own payment application channels and user network, rather than relying on legacy intermediaries,” said Pearce Chen.
Pearce Chen also highlighted that this approach supports integration with DeFi protocols via the BenFen payment public chain and self-hosted BenPay Wallet, making complex DeFi processes accessible to everyday users.
Challenges in PayFi
During the interview with Odaily, Pearce Chen identified three major challenges facing the PayFi sector:
- Regulatory compliance: Stablecoin interest laws are still unclear, creating potential for regulatory arbitrage.
- User adoption and education: Stablecoin usage remains niche; reaching mainstream users requires easy-to-use products and educational efforts.
- Infrastructure limitations: Reliance on traditional banking and Swift settlement systems introduces risk. BenPay has built its own blockchain network, allowing stablecoins from various chains to convert to BUSD for both spending and financial management automatically.
As Pearce Chen summarized to Odaily:
“The ultimate logic of the payment industry is that whoever builds a low-cost, high-performance public chain with a seamless user experience will earn user adoption.”
Short-Term and Long-Term Strategy
Pearce Chen explained the three stages of PayFi project development:
- Initial Phase: Focus on B2B to secure cash flow and competitive advantage.
- Mid-Term Phase: Balance B2B and B2C, expanding consumer adoption while maintaining revenue streams.
- Long-Term Phase: Focus on consumer-end services, aiming to become a mainstream payment solution like WeChat Pay, Alipay, or PayPal.
At BenPay, our strategy emphasizes scalable infrastructure first, enabling smooth expansion into consumer markets.
The Future of PayFi
Finally, Pearce Chen shared his vision:
“The future of PayFi should reach beyond crypto traders, serving billions of everyday users worldwide, especially those underserved by traditional banking or living under volatile fiat conditions. Through repeated, everyday transfers, PayFi can become an indispensable part of global financial life. BenPay is committed to leading this change by making crypto-native payments accessible, secure, and integrated with daily financial services.”
Please read the entire article at the following link: https://www.odaily.news/en/post/5206947.