Ryta Zasiekina, Founder of CONCRYT, speaks to us about redefining payment infrastructure, building digital sovereignty in Europe and the future of cross-border finance in a multipolar world.
Can you tell us a bit about your background and what led you to found CONCRYT, particularly with its focus on digital finance and payment infrastructure?
I have spent a decade in the payments and banking industry and held multiple leadership roles, including consulting and CEO positions. I specialise in general e-commerce, FinTech business consulting, payment processing, alternative payment methods, risk management and anti-fraud.
My background bridges the intersection of emerging technologies, regulation and financial infrastructure. The reason I founded CONCRYT was because I saw a widening gap between the pace of FinTech innovation and the practical realities of operating within legacy systems, particularly for cross-border transactions. CONCRYT has been created to help merchants across all sectors make quantifiable impacts in the online space, by combining unrivalled sector knowledge and experience to create a sustainable, mature, efficient global payments business. Our work is built around helping financial institutions, PSPs and FinTechs navigate complexity, manage risk and create compliant, scalable infrastructure.
Our focus has always been to support a more transparent, sovereign and inclusive financial ecosystem. And that starts with rethinking the foundations: how value moves, who controls it and how infrastructure can be designed to serve the many, not just the few.
Your recent comments highlight the growing tension between global payment systems and US-dominated infrastructure. From your perspective, how have US tariffs accelerated the need for digital and regulatory sovereignty in Europe?
The latest wave of tariffs and the rollback of the de minimis exemption underscore just how vulnerable global commerce is to policy shifts. When a single jurisdiction holds disproportionate control over payment networks, clearing mechanisms, and reserve currencies, the rest of the world becomes exposed to decisions it cannot influence.
Europe’s growing dependence on US-dominated card schemes and banking rails has been highlighted by recent turbulence. For European PSPs and merchants, this is about cost, control, stability and autonomy. We’re now seeing a shift: regulation is becoming a lever of sovereignty, and infrastructure is becoming a site of strategic investment. Europe has an opportunity, and I would argue a responsibility, to lead with purpose-built, interoperable systems that reflect its values and economic priorities.
How does CONCRYT work with PSPs, banks and regulators to help build alternative payment rails, and what are some promising innovations you’re seeing in the space—especially those that could reduce dependency on US-owned systems?
Our role at CONCRYT is to act as both translator and architect. In particular, we’re looking at how to ease cross-border payments, which are crucial for international trade and business operations, but come with several challenges and pain points for merchants. For example, traditional cross-border payments can take several days to process due to multiple intermediaries involved, and with each country having its own set of regulations and compliance requirements, it can be challenging for businesses to ensure they are adhering to all necessary laws.
Addressing these pain points means leveraging advanced payment technologies and partnering with specialised financial service providers, which is where CONCRYT comes in. We’re dedicated to helping our customers navigate the complexities of cross-border transactions effectively.
We also work closely with PSPs and banks to help them understand not only what regulation says, but what it means in practice, how to implement compliant innovation without losing momentum. And we advise policymakers on where market friction exists and how regulation can be shaped to enable, rather than stifle, competition.
The expansion of SEPA Instant, the emergence of blockchain-based settlement layers, and the use of embedded finance in B2B contexts all point to a more local, agile ecosystem. But most importantly, we’re moving toward systems designed for resilience, so that no single market actor or nation-state can hold the entire system hostage.
Stablecoins and the push for a digital dollar have been gaining traction in the US. How do you see this impacting European FinTechs, and what opportunities or threats do they present for EU-based platforms and merchants?
Stablecoins represent both promise and peril. On one hand, they can enable faster, borderless settlement; on the other, they can entrench dollar dominance if not balanced by equally robust euro-denominated alternatives. The rise of the digital dollar, particularly if issued by the Federal Reserve or through regulated intermediaries, could create real challenges for European FinTechs and merchants who may find themselves priced out of or reliant upon dollar-denominated liquidity.
The opportunity for Europe lies in learning from the US model while not replicating its shortcomings. That means investing in euro-backed stablecoins and regulated on-chain instruments that can be integrated into everyday financial flows. Done right, this could open up new corridors for trade, reduce FX costs, and strengthen the euro’s position in the digital age. But we must move swiftly because the geopolitical window is already narrowing.
You mention the digital euro as a potentially transformative tool. What are the key technical and policy hurdles that need to be addressed to ensure it’s not just secure and programmable, but also competitive on a global scale?
For the digital euro to be competitive, it must be more than just another CBDC, it must be a public infrastructure layer that is open, inclusive, and interoperable. Technically, the ECB and national regulators need to prioritise privacy, scalability, and offline usability. These aren’t optional features, they are fundamental to adoption and trust.
From a policy perspective, we need a clear governance framework that defines who can access the digital euro and under what conditions. That means balancing AML/KYC requirements with user privacy, and ensuring that intermediaries – whether banks or FinTechs – can innovate on top of the platform. The digital euro must be programmable, but not prescriptive; regulated, but not restrictive.
Its success will also depend on collaboration. European institutions must work with private-sector players, especially those with proven track records in consumer payments and wallet infrastructure. If we get this right, the digital euro could become a blueprint, not just for Europe, but for any region seeking to build sovereign, interoperable payment systems for the 21st century.
