<\/p>\n
Corporate payments company Corpay<\/a> has launched a collaboration with stablecoin infrastructure platform BVNK<\/a>.<\/p>\n The partnership, announced<\/a> Monday (May 11), is aimed at offering Corpay customers stablecoin wallets and settlement capabilities.<\/p>\n \u201cAt our scale, the ability to move liquidity quickly and reliably is critical,\u201d Mark Frey<\/a>, group president for Corpay Cross-Border Solutions, said in a news release. \u201cStablecoins introduce a 24\/7 settlement capability that strengthens our existing infrastructure. BVNK provides the technology and compliance framework we need to deliver this securely and at scale.\u201d<\/p>\n According to the release, the integration will let Corpay\u2019s more than 800,000 customers see a stablecoin balance alongside their fiat balances, and offer them embedded stablecoin wallets<\/a> for sending, receiving, storing and converting stablecoins within the Corpay platform.<\/p>\n \u201cCustomers will now have access to the always-on payment rails that operate beyond the limits of traditional banking hours and systems,\u201d the release added.<\/p>\n In addition, Corpay will integrate stablecoin rails in its treasury operations, lessening reliance on pre-funded accounts, improving both the capital efficiency and the movement of funds outside its network, the release said.<\/p>\n Advertisement: Scroll to Continue<\/p>\n<\/div>\n \u201cWe believe stablecoins are reshaping the foundation of global payments,\u201d said Jesse Hemson-Struthers<\/a>, CEO of BVNK. \u201cCorpay\u2019s scale and reach make them an ideal partner to bring these capabilities into the mainstream. Together, we\u2019re enabling faster, more efficient ways for businesses to move and manage money across borders.\u201d<\/p>\n PYMNTS wrote last week about the benefits of stablecoins in the cross-border payment space<\/a>, which is often bogged down by \u201ccorrespondent banking chains, pre-funded accounts, foreign exchange friction, compliance overhead and opaque fees.\u201d<\/p>\n Stablecoins can give companies a way to compress both settlement time and capital requirements simultaneously.<\/p>\n \u201cThe opportunity is especially pronounced<\/a> in emerging markets where access to dollar liquidity remains uneven,\u201d that report said. \u201cIn countries with volatile currencies or constrained banking infrastructure, stablecoin-linked payment systems provide businesses with a more stable medium for cross-border commerce while preserving compatibility with local payment networks.\u201d<\/p>\n However, the degree of innovation that stablecoins offer is not without risk. Hacks on digital asset bridge solutions makes up close to 40% of the entire value of crypto lost due to hacks across the entire history of the digital asset space. Counterparty risk is a major concern.<\/p>\n \u201cCFOs are, rightly so, conservative,\u201d Tanner Taddeo<\/a>, CEO of Stable Sea<\/a>, said during a recent episode of PYMNTS\u2019 \u201cFrom the Block\u201d podcast. \u201cThey\u2019re not buying innovation<\/a>. They\u2019re buying to de-risk something \u2026 It\u2019s a crawl, walk, run approach to the enterprise because that trust does take time. It\u2019s never given, it\u2019s always earned.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Corporate payments company Corpay has launched a collaboration with stablecoin infrastructure platform BVNK. The partnership, announced Monday (May 11), is aimed at offering Corpay customers stablecoin wallets and settlement capabilities. \u201cAt our scale, the ability to move liquidity quickly and reliably is critical,\u201d Mark Frey, group president for Corpay Cross-Border Solutions, said in a news […]<\/p>\n","protected":false},"author":2,"featured_media":427042,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-427041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=427041"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427041\/revisions"}],"predecessor-version":[{"id":427043,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427041\/revisions\/427043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/427042"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=427041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=427041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=427041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}