dLocal, the cross-border payments platform, will now be able to offer faster settlements to its global merchant base following a new partnership with stablecoin payments infrastructure provider for global enterprises and PSPs, BVNK.
Through the new collaboration, moving money will be much quicker, programmable and cost-effective in more than 40 markets. Both dLocal and BVNK are working on expanding corridor coverage and deepening technical integration over the coming months.
“dLocal is constantly exploring ways to expand access and improve settlement times for our clients,” said John O’Brien, CRO at dLocal. “By integrating BVNK’s stablecoin capabilities, we can offer even faster, borderless payments – without compromising compliance or control.”
Fiat payout
In addition to accelerating dLocal’s payment rails through stablecoins, the partnership will also see dLocal offer BVNK fiat payout capabilities through its Layer1 platform across emerging market corridors in Africa, Asia and Latin America. Customers will be able to fund cross-border payments using stablecoins and have them delivered to recipients in local currencies, seamlessly, and at scale.
“With Layer1, we’re building a programmable payments network that connects stablecoins with trusted local payout rails,” said Chris Harmse, co-founder at BVNK. “By integrating leading providers like dLocal, we’re unlocking seamless, compliant value transfer into some of the most complex markets in the world.”
Source: https://thefintechtimes.com/
