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While the announcement signs a new encouraging validation that building programmable financial services with stablecoins is now possible, there are still improvements needed before enterprises can fully adopt the solution for their B2B transactions.

The Privy software operates on stablecoins developed by external issuers with no control over their 1:1 parity, leaving the counterparty risk to the corporate user. Converting to fiat isn't even immediate but requires users to jump through hoops: they must first integrate Privy to a third-party off-ramp provider via SDK/API; they must then complete KYC before linking bank accounts; only then Privy can sign and send crypto to the provider that then converts stablecoins to fiat and has the bank pay out actual money.

This presents a long way to go for immediate action as soon as the Stripe-Privy technical  integration is complete.

UniCredit's acquisition of Vodeno and Aion Bank marks a significant shift in embedded finance. This move brings in-house a suite of Banking-as-a-Service products and 200 skilled professionals, positioning UniCredit to offer tailored financial solutions and strengthen customer relationships.

It reflects a broader trend of banks becoming comprehensive embedded finance providers, responding to fintech challenges by controlling key technological platforms. This strategy allows for greater innovation, flexibility, and client intimacy.

Further analysis and details are available here 

It is very important to approach currency conversion throughout the entire end-to-end process, from the moment the treasurer has to decide the best options for an FX transaction, passing through the hedging plan, down to the execution of the currency pair conversion  .

A solution that operates as a decision support system that automates key activities and keeps the treasurer always up-to-date is the foundation of managing (and mitigating) FX risk.