TransferMate Partners with BVNK to Introduce Real-Time Stablecoin Settlement
Cross-border payments platform TransferMate has partnered with stablecoin infrastructure provider BVNK to offer corporate customers real-time cross-border settlement based on stablecoins, aiming to bypass delays and high fees associated with the traditional SWIFT system.
What are the key facts?
- 1Partners: TransferMate and BVNK
- 2Technology: Stablecoins (USDC/USDT)
- 3Target: B2B cross-border payments
What happened?
TransferMate announced a strategic partnership with BVNK, integrating stablecoin assets such as USDC and USDT into its payments platform to enable real-time settlement for B2B cross-border payments. The partnership aims to provide customers with more efficient fund transfers while avoiding delays and high fees associated with the traditional SWIFT system, making cross-border transactions more convenient.
What does this mean for cross-border sellers?
For sellers conducting large cross-border B2B transactions, the partnership could significantly reduce the cost of using funds and limit exchange-rate risk. Highest-priority action: promptly assess the contract terms and consider shifting some payments to the new real-time settlement model.