NUVEI LAUNCHES INSTANT SETTLEMENT OPTIONS IN NEW GEOGRAPHIES

KUALA LUMPUR, Oct 21 (Bernama) -- Nuvei Corp, a Canadian financial technology company, announced that its merchant client base can now benefit from instant settlement globally and around the clock in Euro Coin (EUROC) and Tether (USDT) stablecoins.

In a statement today, it said that while merchants in many countries benefit from instant settlement through various payment schemes such as Instant Single Euro Payments Area (SEPA), Real-Time Payments (RTP) or Faster Payments, alternatives are not always available in all corners of the world.

It said that stablecoins -- backed by a fiat currency such as the euro or US dollar -- can be used as an alternative payment scheme.

Because they combine the benefits of open, borderless cryptocurrency with the price stability of traditional currencies, stablecoins provide new ways to support corporate finance and working capital management, Nuvei said.

The company already offers its merchants instant settlement in locations where Instant SEPA, RTP and Faster Payments are available in fiat currencies.

However, for those merchants trading on the blockchain or in regions where these options are not available, settlement in EUROC and USDT stablecoins provides a viable option.

“The addition of settlement through the EUROC and USDT stablecoins helps merchants build their next-generation payment treasury.

“Stablecoins can be transacted by utilising blockchain which makes global cash flow easier to manage,” said Nuvei president Yuval Ziv.

Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-generation payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services.

-- BERNAMA