Reflecting on the unique role of Crunchfish after having attended the huge payments conference SIBOS in Frankfurt during the week, it is clear that we bring a unique and novel layer to the interconnected   payment ecosystem. At the core of this payment ecosystem lie the established giants such as SWIFT, Visa, and Mastercard. SWIFT's unique addressing format connects bank accounts globally, simplifying the transfer of funds between institutions. Meanwhile, Visa and Mastercard dominate many markets, acting as intermediaries that allow end-users to sign payment instructions that debit their accounts and credit merchants' accounts. This duopoly, however, faces increasing competition from alternatives like instant payment rails and Central Bank Digital Currencies (CBDCs) that aim to supplant traditional card-based transactions.

In many countries, these alternative systems have emerged to facilitate faster and more efficient transfers of value. However, irrespective of the method used, whether traditional card networks, instant payment, or CBDCs, there exists a fundamental requirement for on-ramps and off-ramps to these various payment rails. These systems not only facilitate connectivity between different banking infrastructures but also orchestrate how core banking systems communicate and operate. To add to this intricate framework, payment switches operating at both national and international levels play a critical role in forwarding money, enabling seamless cross-border transactions. They ensure that funds are routed accurately and efficiently, maintaining the fluidity of the payment ecosystem.

Crunchfish: A Novel Layer in the Payment Ecosystem
Amidst this complex tapestry, Crunchfish introduces an innovative layer-2 solution that has not been offered before. By allowing end users to store value on their mobile devices within secure wallets, Crunchfish enables instant offline payments directly between users and merchants utilizing a Layer-2 protocol. This functionality represents a substantial advancement in payment technology, particularly in an increasingly digital world.

Resilience through Offline Capabilities

One of the standout features of Crunchfish's solution is its ability to facilitate transactions without needing network connectivity or system availability. In a payment landscape often vulnerable to outages or connectivity issues, especially in remote or rural areas, this offline capability ensures that users can continue to transact. Whether during network outages, natural disasters, or in areas lacking infrastructure, resilience becomes a vital characteristic of the payment ecosystem.

Interoperability Across Payment Rails

Crunchfish's approach also significantly enhances interoperability within the payment ecosystem. By supporting Layer-2 transactions, which can be settled on any underlying payment rail, Crunchfish allows users the flexibility to transact across diverse platforms. This interoperability is crucial as it bridges the gap between different wallet providers, systems, and currencies, creating a seamless experience for end users. Ultimately, this interconnectedness fosters a more inclusive payment landscape where consumers can use their preferred wallets and payment methods.

Privacy as a Fundamental Right
In an age where data privacy concerns are paramount, Crunchfish's solution prioritizes user privacy by allowing transactions to occur locally without immediate reliance on centralized systems or extensive data sharing. This decentralized approach not only enhances user confidence but also aligns with the growing demand for privacy-preserving payment options. Users retain greater control over their financial data, selecting when and where to engage with centralized systems.

Conclusion

The payment ecosystem is an interconnected patchwork of functionalities, with established players like SWIFT, Visa, and Mastercard providing critical infrastructure for money transmission. However, as technology evolves and consumer needs shift, new solutions must address the challenges of resilience, interoperability, and privacy. Crunchfish offers a groundbreaking contribution to this landscape by providing a unique Layer-2 solution that enables secure, offline transactions. Its ability to integrate seamlessly with existing payment rails represents a vital advancement, enhancing the effectiveness and robustness of the entire ecosystem. As we move towards an increasingly digital future, innovations like those from Crunchfish are essential for building a resilient and user-centric payment ecosystem.

Find here the video with the full interview of Crunchfish CEO Joachim Samuelsson from SIBOS event at Frankfurt.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 3rd October 2025 at 08:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish - crunchfish.com

Crunchfish is a deep fintech company providing a Digital Cash solution enabling offline payments. The solution is designed for banks, payment services, and Central Bank Digital Currency (CBDC). Crunchfish Digital Cash augments payment systems by offering resilience in case of lost internet connections or server failures. The company, with headquarters in Malmö, Sweden and a subsidiary in India, is listed on Nasdaq First North Growth Market since 2016.