TerraPay & Fipto Revolutionize Global Payments with Stablecoin Integration
TerraPay and Fipto have partnered to launch stablecoin-native payment flows, marking a significant shift in the global entry industry. The move aims to enhance speed, efficiency, and flexibility in global payments.
After a year of testing, TerraPay has successfully integrated stablecoin-native operations, reducing transit times and easing liquidity pressure. This is achieved through the 'stablecoin sandwich' model, which has proven effective in the pilot phase.
The partnership with Fipto enables TerraPay's clients to fund payout partners directly in stablecoins, where permitted by regulators. Fipto, accredited by the Monetary Authority of Singapore (MAS), offers licensed custody and a robust compliance framework for financial institutions. This ensures the stability and security of the new payment flows.
According to Fipto's CEO, this move by TerraPay signifies a turning point for the global entry industry. It demonstrates the potential of stablecoins in streamlining global payment processes, reducing volatility, prefunding needs, and working capital pressure.
TerraPay's shift to stablecoin-native flows, facilitated by Fipto, promises improved speed, efficiency, and flexibility in global payments. The successful pilot and regulatory compliance pave the way for wider adoption of this innovative approach.
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