Stellar Development Foundation hosted a virtual roundtable to finalize the direct send SEP proposal, discussing multilateral KYC data sharing between anchors and enabling non-custodial wallets to participate in fiat-to-fiat cross-border payments.
The SDF ecosystem strategy team convened representatives from Tempo, Satoshi Pay, Kaori, and Finclusive to advance the direct send SEP (Stellar Ecosystem Proposal), which enables fiat-to-fiat payments between anchors without requiring end users to interact with digital assets. Key discussions included Finclusive's multilateral KYC framework that allows anchors to share compliance data without duplicating KYC efforts, reducing costs and enabling broader participation. The group addressed how non-custodial wallets like Satoshi Pay can participate by registering user keys with receiving anchors and leveraging pre-KYC registration protocols. Technical considerations included data security, personal information handling, regulatory compliance across jurisdictions, and the separation of KYC processes from payment execution to support non-interactive flows.