There is an interesting concept of hyperbolic discounting. It refers to the fact that many times, decision-makers tend to prioritise immediate benefits over long-term gains. This behavioural tendency often leads to short-term political and economic considerations overshadowing the enduring importance of sustained partnerships, such as in the case of the African Growth and Opportunity Act (AGOA), which has an uncertain future beyond this year.

Polygon Labs is participating in Phase 2 of the Bank of England’s Digital Pound Lab, a controlled environment designed to test ideas and new technologies related to a potential digital pound.

As younger practitioners question whether treasury associations still represent them, Evaldas Balkys argues that their future depends on something the internet can’t reproduce – useful dialogue between people who trust one another.

Royal Bank of Canada and Bank of Montreal, two of Canada’s Big Five banks, are stepping back from a business they built together a quarter-century ago. The two lenders have agreed to sell Moneris, the merchant payments joint venture they set up in 2000, to Francisco Partners, a US private equity firm, in a deal valuing the company at close to $2 billion.

Post-shipment finance refers to a short-term credit facility extended to an exporter by banks or financial institutions after they have shipped goods to a buyer.

The consortium is testing whether a stablecoin and a digital pound can settle within a single payment flow, with a focus on improving interoperability and reducing settlement delays.

Key points:

• Polygon Labs will test the stablecoin settlement leg and smart contract infrastructure
• NOBO Finance is leading a use case focused on portable credit identities for SMEs
• Dun & Bradstreet will provide verified business identity and credit data
• The experiment will take place in a controlled environment with no real customers or real money involved

The project highlights a key question for the future of digital money: how can central bank money, stablecoins and other digital assets interact without adding friction to payments?

Written by Devanshee Dave from Trade Treasury Payments (TTP).

The 18 month initiative will provide financing, investment and advisory solutions across sectors that are becoming increasingly important to economic growth and competitiveness.

Key areas of focus:
• Digital infrastructure, including data centres, computing infrastructure, telecommunications and semiconductors
• Energy and power infrastructure, covering generation, storage and distribution
• Core infrastructure, including transportation, transmission, grid optimisation, water systems and critical minerals

The initiative brings together Bank of America’s capital markets, banking, investment and advisory capabilities as demand for investment in infrastructure continues to grow.

Written by Devanshee Dave from Trade Treasury Payments (TTP).

No doubt emerging risks around volatility, currency fluctuations, and trade wars have become the new normal in the global trade environment. The roles of trade credit and surety bonds have changed, and they are threatening corporations that still treat them as afterthoughts.

As the credit insurance industry celebrates its centennial, all eyes are on the future. The sector is actively charting a course for the decades ahead – a period that looks set to be defined by rapid disruption.

Trade Treasury Payments presents Issue 05 Fine Print, a publication exploring the deeper forces shaping global trade, treasury and payments at a time of rapid change across financial markets. This edition looks beyond surface level headlines to examine the structural realities influencing liquidity, cross border finance, payment systems and risk management. Through expert analysis and industry reporting, it highlights how finance professionals are navigating an increasingly complex environment where regulation, digital infrastructure and global economic uncertainty continue to reshape decision making.

The issue brings together a broad range of perspectives on the future of trade finance, treasury operations and payment innovation, covering subjects such as digital trade adoption, foreign exchange risk, fraud prevention, supply chain finance, private credit and the evolving legal frameworks surrounding modern financial instruments. With coverage spanning global markets and emerging economies, the publication offers practical insight into the trends, challenges and strategic shifts defining the future of real economy finance in 2026.