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As global commerce evolves, persistent frictions in cross-border payments continue to hinder SME growth and innovation. This closed-door policy dialogue confronts a critical choice: should we evolve existing rails or reinvent global payments infrastructure altogether? Featuring two lightning talks and a dynamic moderated debate, this session explores competing policy visions – from improving instant payments to enabling stablecoins and programmable finance. Participants will gain insight into real-world challenges, policy trade-offs, and future-ready strategies to foster inclusion, trust, and innovation in global commerce.