Canadian fintech firm Nuvei has unveiled a brand new blockchain answer focusing on retailers throughout Latin America.
In an announcement on Dec. 4, Nuvei revealed it might be partnering with a number of corporations to carry this answer to the area. The companions embody Rain, a Coinbase Ventures and Circle Ventures-backed vertically built-in issuing associate, BitGo, a crypto custody and pockets supplier, and international funds large Visa.
Nuvei leverages the varied options out there through these platforms to make it simple for companies to make use of stablecoins as a fee possibility. The supported stablecoins embody USDC (USDC).
By way of its collaboration, the Canada-based agency permits retailers throughout the Latin America area to profit from blockchain funds. LATAM retailers can make the most of Visa-supported bodily or digital playing cards for funds with stablecoins throughout the globe.
“By integrating stablecoin expertise into our fee platform for B2B settlement we’re guaranteeing our retailers regularly obtain unparalleled flexibility, safety, and international attain,” Nuvei Chair and chief govt officer Philip Fayer, mentioned in an announcement.
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In September 2023, Visa introduced it was testing a USDC settlement fee initiative on the Solana blockchain. The undertaking seemed to faucet into the stablecoin through Nuvei and the opposite service provider financial institution, Worldpay.
Because the adoption of stablecoin funds and settlements grows, varied suppliers and business gamers have seemed to progressive methods to carry conventional monetary rails on board. LATAM is without doubt one of the areas seeing this elevated traction, with high stablecoin issuers Tether and Circle main help packages.
Each corporations have key partnerships within the area, with Mexico, Colombia, and Brazil being key locations.
In June 2024, blockchain agency Kaiko launched a report that confirmed USDT is significantly extra fashionable in LATAM than Bitcoin, the flagship digital asset that has just lately seen its worth rise to close $100,000.
Learn extra: Visa checks USDC settlement funds on Solana blockchain
