Hello, we are at Money2020 Europe in Amsterdam and I'm delighted to be joined by Chloé Mayenhove, who is the Deputy CEO of Toonz. Chloé, thank you for joining us.
Thank you for having me.
So, welcome back to Money2020. Give us a quick refresher on Toonz and the role of the direct global network in the fintech landscape.
Well, thank you for starting with that. So we at Tunes operate our own proprietary global direct network, which means that we have our own rails enabling payments everywhere in the world, 140 countries, 90 currencies. We do payouts in instant payouts in 12 billion endpoints. Would that be mobile wallets? Would that be a bank account? And 15 billion cards. you
Right, so you're right at the intersection of all cross-border payments in the digital space, really.
Absolutely.
In that topic, the pay-to-stablecoin wallets, this is something that you guys launched. You have made it available to, I think, 11,000 banks, 11,500 banks via the SWIFT network. Walk us through what that solution is and how it connects traditional banking to digital currency spaces.
So you just said it. Sorry. No, not at all. So it connects, of course, the two rails. You have to see our environment as three different buckets. You have the banking environment, you have the mobile wallet environment, and now you have the stablecoin with blockchain rails environment. All those environments are not meant to talk to each other. That's what we do. We put bridges in each of them in order to talk to the other. We do interoperability at scale. So that's our mode. well of course being able to pay to a stablecoin wallet is like the one of the latest product that we launched but that is in our interoperability type of yeah exactly type of well what we want to deliver as a value is exactly this. So we bridge all this together when you're talking about the 11 11,000 banks. Those banks are the ones connected into SWIFT, so we enable that through a connection to SWIFT, but we also enable that through our API directing. So we do both.
The acceptance and assessment of stablecoins across the financial system has definitely been a topic we've been hearing a lot about here. As everyone says, oh, stablecoins, you know, it's the future. Well, okay, but how? And I think that interoperability point has been something that the industry, especially in the digital asset space, has been questioning for such a long time. And it's very exciting that yesterday you guys launched the Interoperability Index with Juniper Research. Tell us all about that. What is the index? How does it work?
So it's a one of a kind for the moment. We probably have a next one soon, well, in a few years to monitor the difference. But yeah, it's very insightful in terms of the maturity of each and every country, each and every region in the world in terms of interoperability. So of course, when you take a SEPA region, you can easily imagine that interoperability is really working well. But when you get outside a region that is going very well in terms of interoperability, then you start the burden. For example, in the US, you would assume that the US is very mature in terms of interoperability, but not at all. Not at all. It's a real case to send money to the U.S. or to send money outside of the U.S., right? So interoperability here doesn't work. When you take, we were talking about mobile money and mobile wallets, sorry, and take Africa region, Africa is, of course, the land of the mobile wallet. Nevertheless, intra-mobile wallet interoperability doesn't work. So that's exactly what we've shown with that index. The maturity is not where we think it is, not at all, and we still have a huge problem to solve.
What a fascinating way to be able to demonstrate where the real problems are and be able to fix them. As you say, if we have issuance of stable coins everywhere, it means nothing if you can't, as you say, accept them and settle them across the board. So you've mentioned that broadening out into different markets and of course, the Interoperability Index allows you to do that. But talk to me a little bit about the Trolley Partnership. and then you know what that means for expanding ours across to the states.
Yeah so remember last year we announced the fact that we were licensed in 50 states in the year in the United States so we decided also to well of course that came along with a lot of investment from us into that part of of the world, North America, Trolley is part of it. We just announced that big signature. We are very proud. Trolley is enabling gig economy to be paid out instantly and so on, thanks to the use of our network. It's part of the broader strategy in North America where we are doubling down. We also announced this morning that we are able to pay out in the US in real-time payments. We also opened an office in New York. We had already an office in San Francisco. And here again, we are doubling down. So it's all like investment in that region of the world that is for us very important.
Creating truly global, truly digital payment systems. It's so interesting to hear you speak and then have you heard anything here at Money 2020 that's really been fascinating to you, anything that has got you excited about the industry?
Well, still a lot of excitement on stablecoin, as you mentioned. Monat 2020 is always very good to be here. We are at all the Monat 2020s in the world. It's time for us to spend valuable time with our network. members, with our customers. Well, here at the Centre of Europe, we find it's always very appealing to be here.
Yeah, all the best conversations going on. Well, thank you so much for joining us, Chloe. I'm very excited to see the expansion into the US and we look forward to hearing more from you for next time.
Thank you very much. Thank you.
