Traditional cross-border payments are plagued by a severe lack of predictability. Relying on an outdated correspondent banking network and the SWIFT system, global money transfers are often slow and leave customers waiting without any clarity on when their funds will arrive. Raj Kamal, an executive with two decades of experience in the payments industry, realised the core issue was a lack of universal regulation. In 2022, he founded TransFi, betting that fiat-pegged stablecoins could provide instant settlement without the need for trusted counterparties, effectively bypassing the cumbersome legacy system entirely.



Focusing heavily on emerging markets, TransFi allows customers to transact using familiar local payment methods like DuitNow. Behind the scenes, the platform seamlessly converts the local currency into stablecoins to move the value across borders, before instantly paying it out in the recipient's local currency. This ensures a faster, highly predictable experience where the end-user never actually has to handle cryptocurrency. To manage this safely at scale, the company heavily integrates AI for rigorous global compliance checks, real-time transaction reconciliation, and automated customer service capabilities.



Serving institutions, large remittance companies, and e-commerce merchants, TransFi operates at a cost up to 50 percent lower than traditional alternatives. This operational efficiency has driven massive growth, leading to a $19.2 million Series A funding round led by Turing Financial Group in March 2026. Having already processed over $1 billion in volume with 16 times revenue growth since their seed round, Raj joins us to discuss his strategy for hitting $5 billion in transaction volume this fiscal year and why he believes stablecoins will completely reshape the global payments industry by 2030.

Traditional cross-border payments are plagued by a severe lack of predictability. Relying on an outdated correspondent banking network and the SWIFT system, global money transfers are often slow and leave customers waiting without any clarity on when their funds will arrive. Raj Kamal, an executive with two decades of experience in the payments industry, realised the core issue was a lack of universal regulation. In 2022, he founded TransFi, betting that fiat-pegged stablecoins could provide instant settlement without the need for trusted counterparties, effectively bypassing the cumbersome legacy system entirely.Focusing heavily on emerging markets, TransFi allows customers to transact using familiar local payment methods like DuitNow. Behind the scenes, the platform seamlessly converts the local currency into stablecoins to move the value across borders, before instantly paying it out in the recipient's local currency. This ensures a faster, highly predictable experience where the end-user never actually has to handle cryptocurrency. To manage this safely at scale, the company heavily integrates AI for rigorous global compliance checks, real-time transaction reconciliation, and automated customer service capabilities.Serving institutions, large remittance companies, and e-commerce merchants, TransFi operates at a cost up to 50 percent lower than traditional alternatives. This operational efficiency has driven massive growth, leading to a $19.2 million Series A funding round led by Turing Financial Group in March 2026. Having already processed over $1 billion in volume with 16 times revenue growth since their seed round, Raj joins us to discuss his strategy for hitting $5 billion in transaction volume this fiscal year and why he believes stablecoins will completely reshape the global payments industry by 2030.

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.