Why Liquidity Comes Before Yield in Corporate Treasury

Most of the stablecoin debate is about yield. Who earns it, whether banks lose deposits, and what the Clarity Act will finally allow. Corporate treasury teams are asking something else entirely. In part two of the stablecoin series, Brett Turner, Founder and CEO of Trovata, is joined again by Paul Bances, who helped build PayPal's digital currency business and the market for PYUSD. Together they get into why the corporate use case looks nothing like the consumer one. For a treasury team, availability and control of cash matter more than what that cash earns. Brett shares how Trovata got here, from pioneering bank APIs to walking into Paxos with a thesis he wasn't sure anyone would believe. He and Paul work through intercompany settlement as the first real use case, since it doesn't depend on a willing counterparty or a mature ecosystem. You are moving value between entities you already own. They also cover why governed access decides everything. Audit trails, controls, and remediation are what turn a promising rail into something a treasury team will actually touch. Eighty percent accuracy is fine for a consumer app. In the enterprise it gets someone fired. The conversation closes on tokenized assets, where AI and agents fit, and what both of them are watching next.