Harbour and Velocity Labs Launch Instant Stablecoin Payment System Connecting EU Banks with Polkadot
ChainwireHarbour has partnered with Velocity Labs to launch a stablecoin payment system called "Magic Ramp" that connects SEPA Instant payment rails with Polkadot. This collaboration allows for efficient and low-cost payment solutions that integrate traditional banking systems into Web3. The system allows for Euros to be sent from any bank account and received as USDC on-chain in less than 30 seconds, with minimal fees. Developers can now issue virtual IBANs that are linked to Polkadot wallet addresses and bridge SEPA Instant payment rails in Europe with the Polkadot Asset Hub.
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