Phillip Alexeev, CGO at CrossFi, on Banking the Unbanked, Bridging TradFi & Crypto, and The Evolution of Payment Tech | Ep. 403

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Phillip Alexeev, Chief Growth Officer at CrossFi, joined the Cryptonews Spotlight podcast to discuss his journey in fintech, CrossFi’s mission to bridge traditional finance and Web3, and the role of crypto in solving global financial inclusion challenges.

Bullish Outlook on 2025

“I think 2025 is going to be a good year just for the overall crypto market narrative, especially for AI agents and meme coins,” says Philip.

Phillip shared his optimism about the future of crypto, citing the growing adoption of AI agents and the enduring appeal of meme coins as key trends driving innovation and adoption.

Banking the Unbanked

Phillip highlighted the staggering number of unbanked individuals worldwide.

“Over 60% of the world is currently unbanked, and crypto is starting to replace traditional banks.”

He believes crypto technology provides a viable alternative to traditional banking systems, allowing people to participate in the global economy.

Evolution of Payment Tech

Tracing the history of payment systems, Phillip explained how crypto is reshaping financial inclusion by offering efficient, decentralized alternatives for global transactions.

“Cryptocurrency is starting to replace traditional banking technology and give unbanked folks access to the global economy.”

What is CrossFi

“CrossFi is a robust ecosystem founded on a Layer-1 blockchain, built for scalability and security, to facilitate Web3-to-FIAT transactions,” explains Philip.

CrossFi’s flagship technology enables non-custodial crypto-to-fiat payments. It allows users to spend cryptocurrencies directly at any point-of-sale terminal worldwide, bridging the gap between Web3 and traditional finance.

Flagship Payment Technology

Phillip described how CrossFi’s payment solution empowers users to use crypto seamlessly, eliminating barriers and making decentralized finance accessible.

“Our payment system allows you to spend non-custodially from any Web3 wallet and convert directly into fiat currency without transferring funds elsewhere.”

Enabling Financial Freedom

“The privilege of having a bank account is something many take for granted. Crypto provides that opportunity for millions who are excluded from traditional finance,” believes Philip.

CrossFi’s solutions aim to democratize access to banking and payment systems, helping billions of people achieve financial freedom.

Benefits of Building a Layer-1

“Creating an L1 was pivotal for us. It supports both Web3 security standards and the rigorous requirements of banking systems.”

Phillip explained why CrossFi chose to build a Layer-1 blockchain. He highlighted its scalability, security, and compatibility with banking infrastructure as core advantages.

DeFi Innovation on CrossFi

The CrossFi ecosystem fosters innovation in decentralized finance, providing developers with tools to create groundbreaking financial products.

“We’re pushing the envelope with DeFi technology, including synthetic assets and real-world asset plays launching in Q1 2025,” says Philip.

Tokenomics of CrossFi

Phillip outlined the simple and transparent tokenomics that drive CrossFi’s ecosystem, ensuring stability and long-term growth.

“We have two tokens: MPX, our governance token, and XFI, the liquid token used for trading and ecosystem utility.”

Bridging TradFi and Web3

CrossFi bridges the divide between decentralized and traditional finance, offering secure, user-friendly solutions for individuals and institutions alike.

“Our goal is to close the loop between crypto and traditional banking, enabling people to participate fully in the global economy,” Philip says.

Opportunity in Emerging Markets

Phillip discussed how CrossFi addresses the unique challenges faced by emerging economies, enabling secure financial interactions.

“Emerging markets are leveraging crypto to bypass traditional systems, and CrossFi provides the infrastructure to do it safely and efficiently.”

Building a Scalable Future

“We’re creating a blockchain ecosystem where scalability, efficiency, and usability converge,” says Philip.

CrossFi is focused on expanding its ecosystem by collaborating with innovators in AI, GameFi, and DeFi to drive adoption and scalability.

Crypto as a Force for Good

Phillip emphasized the transformative power of crypto technology in solving global challenges, from financial inclusion to economic empowerment.

“Crypto is not just about speculation—it’s about creating real solutions that can transform lives.”

Looking Ahead to 2025

Phillip expressed confidence in crypto’s ability to drive meaningful progress, pointing to the rapid advancements in technology and adoption.

“2025 will be a defining year for crypto, with innovations in DeFi, tokenized assets, and AI-driven applications leading the way.”

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