Cardano CEO: Blockchain as neutral global settlement layer

Frederik Gregaard, CEO of the Cardano Foundation, described blockchain as a potential neutral, transparent and resilient global settlement layer for cross-border payments.

He noted correspondent banking has long handled international settlements but is subject to jurisdictional controls and discretionary actions by authorities. He urged treasuries, financial institutions and nations to assess whether current systems will remain trustworthy if political or regulatory conditions change.

He described blockchain infrastructure as ‘parallel rails governed by transparent rules, open standards, and deterministic execution rather than discretionary access.’ By deterministic execution, he explained that transaction processing is driven by code and predefined protocols instead of case-by-case decisions by intermediaries.

As an example, Gregaard cited A7A5, a Russian ruble‑pegged stablecoin that moved more than $93 billion in under a year before the European Union banned its use under the 19th package of sanctions in November 2025. He also referenced reports that Venezuela used stablecoins for some oil sales after facing limits in traditional finance channels.

He stated the technology should focus on building financial infrastructure for commerce rather than on speculation and described the priority as “the creation of neutral, resilient, and transparent financial infrastructure capable of supporting global commerce when traditional systems become increasingly fragmented by politics and geography.”

The Cardano Foundation promotes the Cardano blockchain and related standards. Gregaard’s remarks contribute to a broader discussion about whether distributed ledger technology can offer predictable, rules-based settlement options that operate independently of geopolitical pressures on conventional banks.