New Blockchain Solution for B2B Payments Launched in Latin America

A new FinTech solution for B2B payments aimed at e-commerce market participants in Latin America was introduced, enabling cross-border transactions using stablecoins and the Visa payment network.

Canadian FinTech company Nuvei announced the launch of its blockchain payment solution for merchants in Latin American countries. The project’s tech partners include Visa, digital asset custodian BitGo, and payment solutions dev Rain.

The new solution allows the use of stablecoins for transactions via physical or virtual Visa cards. Compared to traditional payment systems, the service simplifies cross-border multi-currency payments, offers more efficient corporate treasury management, ensures secure storage of digital assets, and improves operational liquidity.

Philip Fayer, Chair and CEO of Nuvei, stated in the press release that leveraging stablecoins on the platform for B2B payments provides e-commerce market participants with unparalleled flexibility, security, and global reach. Farooq Malik, Co-Founder and CEO of Rain, added that the new product bridges traditional financial infrastructure with the digital asset ecosystem, enabling seamless B2B payments using stablecoins.

It’s worth noting that Nuvei was among the companies supporting the November 2024 launch of the Global Dollar Network project, aimed at accelerating the global adoption of stablecoins as a payment method.