Prithvi Prabahar

Roadblock Title:

Settling Card Payments with Stablecoins: Why We Did It and What We Learned

Time:

Tuesday - 1:00 PM (Tower D)

Abstract:

Card networks have steep requirements for banks that want to participate in issuing cards and revenue. Much of this stems from legacy infrastructure built on payment rails designed for a different era, often requiring working capital to be tied up in the process. With crypto, stablecoin offers a win-win solution for card networks and banks alike. However, introducing stablecoin into regular banking activities comes with its own set of challenges, including a lack of regulatory certainty and the inherent risks associated with cryptocurrency. This session covers how Lead Bank first developed conviction in adopting this solution and how we mitigated these challenges with our approach. With luck, our learnings will help you evaluate stablecoin for your own use cases.

Bio:

Prithvi Prabahar is a Principal Product Manager at Lead Bank, a developer-focused, API-first BaaS partner. Prithvi has spent the last decade building innovative financial infrastructure for a diverse set of needs, from underserved communities to fintechs. He developed compliance technology for financial advisors at Hearsay Systems, designed low-cost, instant remittances for immigrant communities in developed countries at Taptap Send, and streamlined payment processing for small businesses at Podium. In just three years at Lead, where he specializes in banking primitives that power card payments, network settlement, and deposits, Prithvi has launched over 20 partners and helped scale their card network volume to millions per day. Prithvi studied electrical engineering and computer science at Duke University and lives in Brooklyn, NY with his wife and son.