Nuvei said on Tuesday that it had expanded the global money movement platform to include the support backed from Stablecoin, aimed at speeding up and reducing the cost of transfers across the border, especially in the emerging markets of traditional banking networks.
The Canadian Payments Company said that the reinforcement allows companies to transfer the Fiat currency account to the border with a settlement today or the next day, bypassing the slow and most expensive rapid transportation.
Using Blockchain technology on the back interface, Nuvei said it can reduce dependence on brokers and provide money more efficiently.
“Our mission is to simplify the movement of funds and accelerate it worldwide so that companies can focus on growth,” said Phil Fire, President and CEO of Nuvei. “With this extension, we give our customers the ability to transfer a FIAT account to the account, across the border, faster and more effective than ever.”
The expanded capabilities of Nuvei cover the processes inside the institutions, the payments of unilateral sellers, the multi -party exchange such as global salaries, the inconsistencies in the market and transfers.
The company said that these jobs are of special value in rapidly growing economies, as they often delay the financial infrastructure of transactions.
The platform integrates many foreign labor service providers to secure competitive prices and support local settlement in 150 currencies across more than 200 markets.
Once the virtual bank accounts are funded by using local payment bars, Stablecoin facilitates the level of the border leg, while completing payments in the local currency by partner institutions.
Nuvei said that the solution completes its current offers, paying offers in the actual time, Ewallet and Card Network, which helps companies reach the recipient even in rural or unrestricted areas.