QR codes are quietly eating the global point-of-sale, especially in the emerging markets where most of the world's population actually transacts. SQRIL, founded by Malcolm Weed and headquartered in Singapore, is the payments switch making those QR systems interoperable across borders. Its rails let banks, e-wallets and fintech apps in Asia, Africa and Latin America scan and pay each other's codes in real time, settling in stablecoins or local fiat.

The opportunity is enormous and underestimated. National QR schemes such as PIX, UPI, PromptPay and PayNow have onboarded billions of users, but cross-border interoperability between them is still painful, slow and expensive. SQRIL plugs into existing wallets and bank apps as a switch, not a competing brand, and uses stablecoins where they offer the best settlement economics. The user experience is unchanged; the rail underneath is faster, cheaper and dollarised.

This is exactly the kind of infrastructure Fulgur looks for. We invest in teams that bring stablecoin and Bitcoin rails into real-world payment flows where the alternatives are correspondent banking and high-fee remittance corridors. SQRIL meets users at the merchant counter and the wallet app, where habit is already formed, and quietly upgrades the rails behind them. That is how stablecoin volume goes from speculative to structural.

For Asia-Africa and Asia-LatAm corridors specifically, the unit economics are compelling: high transaction frequency, thin margins on legacy rails, and rapidly maturing local stablecoin liquidity. Malcolm and the team have been building inside this market for years, with the operator scars to match. We are excited to support SQRIL as it becomes the default cross-border QR layer for the next billion mobile-money users.