Presented by Stablecon; Powered by BVNK.
In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Benji Fernandes, founder and CEO of NALA, a remittance business for diaspora customers, and Rafiki, its B2B infrastructure arm for emerging-market payouts, collections, and stablecoin settlement.
They unpack how consumer remittance volume pushed NALA to own more of the rails, why 96 out of 100 stablecoin trades in its markets are USDT, and why licenses, liquidity, and local payout infrastructure decide what stablecoins can actually do.
Subscribe and listen to the Money Code podcast here:
https://lnk.to/MoneyCodeSN
Chapters
00:00 What NALA does: remittance, Rafiki, and emerging-market rails
01:56 Why Benji entered a "saturated" remittance market
04:56 The failed first version of NALA
06:35 Africa's fragmentation problem: 54 countries, 40 currencies
08:20 The FX loss that pulled NALA into infrastructure
12:48 The NALA stack: ledger, treasury, distribution
18:47 Where stablecoins actually help
20:43 Three stablecoin patterns Benji is watching
26:13 Local wallets: four customer problems inside one product
31:09 The liquidity problem behind stablecoin on/off ramps
35:29 "Solve my problem fastest": what users care about
36:10 The stablecoin hype Benji pushes back on
40:44 TAM has to follow customer behavior
44:39 Payments for the next billion
47:40 Why Rafiki scaled after everyone called it a distraction
49:56 Where to find Benji and NALA
Connect with the Hosts & Guest
Chuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chukxyz/ | https://stablecoinblueprint.com
Raj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyz
Benji Fernandes: https://www.linkedin.com/in/benjaminf7/ | https://x.com/BenjiFernandes | https://www.nala.com | https://www.rafiki.com
About Stablecon
Stablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry. Whether you're building, advising, or navigating this new frontier, this is the room where it happens.
About BVNK
BVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.