Video | From Access to Impact: Transforming Cross-Border Payments in Emerging Markets

In the third episode of Protiviti’s Fintech Innovation Series, part of our Modern CIO Dilemma program, Melissa Desjardins, a director within Protiviti’s Technology Consulting solution, sits down with Stéphanie Joseph, cofounder and CEO of Kura, to explore how fintech innovation can unlock access to payments, commerce and economic participation in emerging and frontier markets.

Drawing on her background in financial services, product innovation and global payments, Joseph shares how Kura is tackling long-standing challenges in cross-border money movement — balancing innovation with regulatory rigor, security and trust.

Key Insights from the Discussion

• Solving a critical access gap in global payments: Kura was born from a firsthand understanding of the challenges facing micro, small and medium-sized enterprises (MSMEs) in emerging markets. Many of these businesses are excluded from the formal financial system due to limited infrastructure, high perceived risk and underdeveloped payment rails. Kura’s platform enables merchants to accept cross-border payments seamlessly, helping them participate more fully in the global economy.
• Reimagining cross-border payments with blockchain technology: Traditional fiat-based payment rails often struggle to support efficient cross-border transactions, particularly in frontier markets. Kura addresses this challenge by leveraging blockchain technology and stablecoins to enable faster, more reliable money movement while still respecting regulatory requirements at the on- and off-ramps. This approach helps reduce friction, increase transparency and expand access to financial services.
• Navigating regulation through design and partnerships: Regulatory compliance is foundational to Kura’s operating model. Joseph emphasizes the importance of understanding licensing requirements, anti–money laundering and Bank Secrecy Act obligations, and counterparty risk when moving funds across borders. Kura’s decision to offer a noncustodial wallet allows merchants to retain control of their assets while reducing regulatory complexity. Strategic partnerships with banks, compliance providers and orchestration platforms further support secure and compliant operations.
• Expanding use cases beyond remittances: Unlike companies that provide traditional peer-to-peer remittance models, Kura focuses on merchant acceptance. The platform enables funds to be spent directly at participating merchants, eliminating the need for cash pickups or bank transfers and making funds immediately usable. Kura is also supporting large-scale use cases such as global aid disbursement, helping organizations deliver funds quickly to beneficiaries who can access essential goods and services without delay.
• Building trust through security and data protection: In cross-border payments, trust is nonnegotiable. Kura embeds security and privacy into its platform from day one, using end-to-end encryption, know-your-customer and know-your-business processes, and continuous risk monitoring. By working with established identity and compliance providers, Kura helps ensure that transactions remain secure while meeting the expectations of regulators, partners and customers.
• The role of AI in risk management and merchant enablement: Looking ahead, Kura sees significant opportunity at the intersection of artificial intelligence (AI), payments and data. Transaction and point-of-sale data can be leveraged to enhance risk scoring, monitor merchant activity and anticipate customer needs. Over time, these insights could help Kura evolve into an operating system for merchants — supporting smarter decision-making and more resilient commerce in complex environments.
• Leadership lessons for fintech founders: Joseph highlights humility and listening as critical leadership traits. By staying close to customers, partners and teams, fintech leaders can identify emerging pain points, adapt quickly and build solutions that truly serve their markets. She also underscores the importance of understanding the regulatory landscape early, before bringing products to market, to avoid downstream risk.

Looking Ahead

As Kura continues to expand across use cases, industries and geographies, the company remains focused on enabling faster, safer and more inclusive payments. By combining innovative technology with strong governance and strategic partnerships, Kura is helping reshape how money moves in emerging markets — creating new opportunities for merchants, institutions and communities alike.

This conversation offers valuable insights for fintech leaders, CIOs and innovators navigating the intersection of payments, regulation and emerging technology.

The Modern CIO Dilemma

In this exclusive series from Protiviti, explore quick-hit insights and executive perspectives on the evolving role of the CIO in financial services. The Modern CIO Dilemma distills key conversations into video briefings and podcast episodes. You’ll hear directly from finance transformation leaders about how CIOs are tackling today’s most pressing issues — from regulatory uncertainty to payment modernization. Whether you're rethinking your data architecture, implementing AI responsibly or preparing for the next compliance shift, this series brings clarity to complexity — fast.

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