Businesses in LATAM can now use stablecoins to
make faster cross-border B2B payments and settlements through
Nuvei's partnership with Rain, BitGo, and Visa
MONTREAL, Dec. 4, 2024
/CNW/ -- Nuvei Corporation ("Nuvei" or the "Company"), the Canadian
fintech company, today announces the launch of an innovative
blockchain-based payment solution for merchants across Latin America (LATAM). Through Nuvei's
partnerships with Rain, a vertically integrated issuing partner for
global platforms, BitGo, the leading digital asset custodian and
wallet solutions provider, and Visa, Nuvei is enabling businesses
to utilize stablecoins – including USD Coin (USDC) – for faster
global settlement and reduced reliance on traditional payments
rails.
By collaborating with Rain, BitGo, and Visa, Nuvei delivers a
seamless and secure blockchain payment experience that empowers
LATAM merchants to use their physical or virtual card supported by
Visa to make payments using stablecoins from a digital asset wallet
anywhere Visa is accepted. The solution benefits from Visa's wide
acceptance and simplifies corporate treasury management, offering
faster cross-border transactions, secure digital asset custody,
reduced currency complexity, and improved operational
liquidity.
"Nuvei empowers businesses to connect more deeply with their
customers through innovative payments solutions," commented Nuvei
Chair and CEO Philip Fayer. "By
integrating stablecoin technology into our payment
platform for B2B settlement we're ensuring our merchants
continually receive unparalleled flexibility, security, and global
reach."
Rain Co-founder and CEO Farooq
Malik added: "Our innovative platform connects traditional
financial rails with the digital asset ecosystem, providing
frictionless transactions for B2B and stablecoin
payments. This partnership with Nuvei represents a significant step
in making blockchain-based payments more accessible and flexible
for businesses in Latin
America."
Luis Ayala, Director at BitGo,
commented: "As a leader in digital asset custody and
infrastructure, we're excited to support Nuvei's expansion into
blockchain payments. Our institutional-grade security and
comprehensive digital asset services will help businesses in
Latin America leverage
stablecoin technology with confidence and operational
efficiency."
This comprehensive blockchain-based payments offering sets a new
standard for payment solutions in Latin
America, demonstrating Nuvei's commitment to deepening its
footprint in a region with rapid eCommerce growth. Year-to-date,
Nuvei's expansion of services in LATAM include being the first
global payments service provider to offer direct local acquiring in
Colombia, implementing local
acquiring services in Mexico, and
acquiring a Payment Institution license in Brazil.
About Rain
Rain develops and operates cutting edge digital asset
authorization and settlement infrastructure in concert with its
innovative payment card solutions. By connecting blockchain
settlement with traditional financial systems like the Visa
network, Rain drives adoption and utility for digital assets in
enterprise and consumer use cases.
Rain offers an asset-agnostic settlement stack with support for
stablecoin programs and is a principal member of the
Visa network. The company was founded in 2021 and is backed by
Lightspeed Venture Partners, Norwest, Coinbase
Ventures, Circle Ventures and Uniswap Labs. For more information,
visit www.raincards.com.
About BitGo
BitGo provides the most secure and scalable wallet solutions for
the digital asset economy, offering regulated custody, staking and
trading, and core infrastructure to investors and builders
alike.
Founded in 2013, BitGo pioneered the multi-signature wallet and
is the first digital asset company to focus exclusively on serving
institutional clients. In 2018, it launched BitGo Trust Company,
the first qualified custodian purpose-built for storing digital
assets and established BitGo New York Trust in 2021. In 2022, BitGo
launched institutional-grade staking, DeFi, NFT and
Web3 services. BitGo secures approximately 20% of all on-chain
Bitcoin transactions by value and supports more than
700 digital assets within its platform. BitGo provides the security
and operational backbone for more than 1500 institutional clients
in 50 countries, including many regulated entities and the world's
top cryptocurrency exchanges and platforms.
BitGo is backed by Goldman Sachs, Craft Ventures, DRW, Galaxy
Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For
more information, please visit http://www.bitgo.com
About Nuvei
Nuvei is the Canadian fintech company accelerating the business
of clients around the world. Nuvei's modular, flexible and scalable
technology allows leading companies to accept next-gen payments,
offer all payout options and benefit from card issuing, banking,
risk and fraud management services. Connecting
businesses to their customers in more than 200 markets, with local
acquiring in 50 markets, 150 currencies and 720 alternative payment
methods, Nuvei provides the technology and insights for customers
and partners to succeed locally and globally with one
integration.
For more information, visit www.nuvei.com
Contact:
Public Relations
alex.hammond@nuvei.com
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SOURCE Nuvei
