In a world marked by fragmentation, shifting alliances, and systemic uncertainty, the inaugural edition of Trade Treasury Payments (TTP) explores the evolving foundations of global trade, liquidity, and risk management. This issue reflects on the past decade — from the rise and fall of supply chain finance (SCF), trade credit insurance, and the transformation of the corporate treasury function — while confronting today’s challenges across digitalisation, regulation, and protectionism. In a world marked by fragmentation, shifting alliances, and systemic uncertainty, the inaugural edition of Trade Treasury Payments (TTP) explores the evolving foundations of global trade, liquidity, and risk management. This issue reflects on the past decade — from the rise and fall of supply chain finance (SCF), trade credit insurance, and the transformation of the corporate treasury function — while confronting today’s challenges across digitalisation, regulation, and protectionism. We examine how the payment landscape has evolved, the role of real-time treasury data, and the emergence of deep-tier supply chain finance (DTSCF), where financing extends beyond tier-one suppliers. Key contributions also address the increasing use of artificial intelligence (AI) in treasury operations, the rise of ESG-linked (Environmental, Social and Governance) finance, and how policy shifts — such as US tariff strategies and regulatory divergence — are impacting liquidity and access to capital. We explore regional diversification efforts, including the African Continental Free Trade Area (AfCFTA), and analyse growing South-South trade flows from markets such as the Gulf Cooperation Council (GCC), India, and China. With insights from industry leaders at BAFT (Bankers Association for Finance and Trade), ICISA (International Credit Insurance & Surety Association), and ICC (International Chamber of Commerce), this edition connects high-level trends with practical implications for banks, insurers, corporates, and policymakers. Every business stands to benefit — so thank you in advance for your engagement.