Toons, a global funds transfer network, has partnered with stablecoin issuer Circle to enable faster cross-border transactions.
The partnership aims to revolutionize stablecoin liquidity management, allowing members of Thunes’ Direct Global Network to use USDC to fund and make cross-border payments. That’s what I mean.
This integration facilitates transfers within seconds throughout the week.
Jeremy Allaire, co-founder and CEO of Circle, said: “Circle and Thunes’ collaboration demonstrates the transformative power of the digital dollar to enable secure and transparent transfer of funds at internet speeds.
“USDC will facilitate seamless cross-border transactions for businesses and individuals, opening new economic opportunities and reducing friction in global financial transactions.”
By adopting USDC payments, Thunes members can expect increased liquidity and reduced cost of capital.
Regulated stablecoins like USDC serve as a stable medium that enhances the liquidity of payments and enables rapid transactions around the world.
The company said the stablecoin leverages the benefits of blockchain technology such as speed, persistence, and traceability.
Thunes CEO Floris de Kort said: “At Thunes, we are constantly innovating to ensure that the Direct Global Network is accessible, fast, secure, and cost-effective. Payments made with stablecoins deliver exactly these four things. We provide.
“By working with Circle, we aim to further accelerate innovation in cross-border payments by providing our members with real-time, 24/7 funding at the speed of USDC payments.”
Thunes’ Direct Global Network facilitates real-time payments in more than 80 currencies in more than 130 countries.
The network reaches over 7 billion mobile wallets and bank accounts worldwide and incorporates over 320 payment methods, including GCash, M-Pesa, Airtel, and more.
Recently, Thunes enhanced its Direct Global Network, allowing banks to access over 3 billion mobile wallets around the world through their existing Swift connectivity.
“Thunes and Circle partners to facilitate cross-border payments with stablecoins” was originally created and published by Electronic Payments International, a brand owned by GlobalData.
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