Thomas Aronica, CEO of Biller Genie, sees cryptocurrency as a necessary evolution of financial systems that his company will need to support in the future.
Although the B2B SaaS platform has not yet incorporated cryptocurrency, Aronica mentioned in a recent Q&A that stablecoins such as USDC could facilitate real-time settlements for payroll, commissions, and supplier payments. He believes that blockchain could eventually transform invoicing itself, replacing email trails with distributed ledgers that offer instant visibility to all parties—a change he anticipates will occur as adoption and regulation align with technological advancements.
The following interview has been edited for clarity.
What impact has cryptocurrency had on Biller Genie?
Aronica: We’ve examined various integration options and see a clear trajectory ahead. In the future, we plan to enable real-time crypto payments with fiat settlements. Starting with USDC, which is gaining traction, could provide opportunities for both buyer-supplier payments and transactions like commissions and payroll in crypto.
Beyond mere payments, I see huge potential in blockchain technology itself. By differentiating crypto as a payment method from blockchain as a technology, one can envision a scenario where all invoices reside on a blockchain. This would eliminate the hassle of emailing PDFs and version control issues, allowing all parties to access the same distributed ledger for real-time visibility. I genuinely believe this future is attainable.
It seems, though, that cryptocurrency is exerting considerable influence on federal policy for an industry with so little utility. When was the last time anybody ordered a pizza using crypto?
Aronica: This is about necessity driving innovation. For instance, in regions like Asia-Pacific or the EU, contactless payments in restaurants—where they bring the terminal to the table—have been standard for 15 years. In the U.S., we only saw it during COVID due to hygiene concerns. Similarly, Apple Pay wasn’t widespread just a few years ago because consumers and merchants hesitated to use it due to cost.
Doesn’t volatility impede utility?
Aronica: Yes, there’s a classic chicken-and-egg situation. Business owners and software providers, including us, haven’t fully invested in developing the infrastructure for crypto payments due to cautious adoption. However, when I ask if they would use it, the answer is generally affirmative.
Volatility can be managed. Stablecoins address that issue directly, and even with more volatile cryptocurrencies like Bitcoin (BTC) or XRP, it’s possible to create offboarding mechanisms that convert transactions to cash in real time, mitigating risks for businesses accepting payments.
In my view, it’s less about the technology and more about prioritizing the numerous requests we receive from users. Crypto has a role to play, and the rising regulatory focus indicates steady adoption. We’re still in the early stages of this payment method, but solutions to handle volatility exist—there’s a whole ecosystem developing around exchanging and repatriating these assets.
Are Biller Genie’s customers asking for crypto?
Aronica: We definitely hear interest—from both our distribution partners and users—but it’s more opportunistic than systematic. We’re not actively surveying for it, and currently, it isn’t prioritized. We have a multitude of opportunities to consider, and crypto is just one of them. When I started in this industry, our challenge was encouraging restaurants to shift from cash to cards. Over the last 15 years, it’s primarily been a competition between card providers.
Now, we’re entering a new phase: card versus other payment systems, including crypto. We’re not focused on persuading businesses that accept crypto already to utilize our services. With so many credit card and electronic payment options, even if a couple of competitors offer crypto acceptance, it’s not a significant issue. We’re not rushing to be first; our goal is to help educate the market. There is still a significant amount of education needed before this sector becomes highly competitive.
What keeps you up at night in terms of red flags or stress points?
Aronica: My primary concern is meeting demand. We’ve developed a robust solution that people appreciate, but I worry about our capacity to assist enough individuals quickly. The challenge lies in scaling to fulfill market needs, so we can achieve something truly remarkable. Anything less would feel inadequate compared to our execution aspirations. Our current focus is on maintaining our quality while ensuring customer satisfaction throughout the process.
