Cross-border payments platform Thunes has entered into a strategic partnership with digital finance company Circle.
This partnership aims to support the liquidity and efficiency of stablecoin transactions within Thunes’ Direct Global Network, particularly cross-border payments. This partnership allows Thunes network members to send cross-border money using USDC, enabling faster 24-hour transactions. By settling transactions with USDC, Thunes aims to increase liquidity while reducing the cost of capital typically associated with cross-border payments.
The role of regulated stablecoins in cross-border transactions
According to Toons, USDC as a regulated stablecoin is increasingly being used within the financial ecosystem as a bridge between traditional and digital currencies. Stablecoins such as USDC offer benefits for liquidity management by reducing trading volatility and enabling near-instant settlement across global markets. By leveraging blockchain technology, these digital assets facilitate reliable and traceable transactions and are emerging as important financial tools for businesses and individuals alike.
Thunes’ adoption of stablecoins is in line with the company’s goal to optimize cross-border transactions, aiming to provide faster and more cost-effective payment solutions across its global network.
Toons officials highlighted the role of stablecoins in enhancing Toons’ services and revealed their goal of maintaining an accessible, secure, and efficient global network. Meanwhile, Circle representatives highlighted the far-reaching impact of the partnership, saying USDC’s role in cross-border transactions underscores the digital currency’s potential to support secure and transparent transactions around the world. pointed out.
More developments from Thunes
As part of its efforts to further optimize cross-border payments, Thunes has entered into a strategic agreement with MBANK, allowing it to become part of the Thunes Direct Global Network. As part of this collaboration and by being a member of the Toons network, MBANK can now connect Kyrgyzstan businesses and individuals directly to more than 7 billion mobile wallets and bank accounts around the world.
Essentially, the partnership aims to facilitate simplified fund transfers to and from Kyrgyzstan, with both companies providing locally licensed institutions and merchants with a wide range of services including B2B, P2P, B2C and C2B payments. We are planning to enable trading. Through these services, Thunes and MBANK aimed to support a variety of cross-border use cases, including payments for foreign education, e-commerce transactions, and local acceptance of gig economy payments.
To learn more about Thunes, view the company’s detailed profile in our industry-specific company database.
