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During the EthCC conference in Cannes, the inaugural fully non-custodial payment solution utilizing stablecoins, which accommodates both international and national payment systems, was unveiled.
MiniPay and Noah have formed a strategic alliance to introduce the industry’s first entirely non-custodial product for stablecoin transactions, merging global banking infrastructure with local payment options. This solution is tailored for actual users in emerging markets, offering immediate payouts, low fees, and complete control over their funds.
MiniPay is a stablecoin wallet developed on the Celo blockchain, aimed at facilitating everyday transactions. In collaboration with Noah, a provider of global payment infrastructure, MiniPay is enhancing its capabilities by incorporating virtual accounts in U.S. dollars and euros. Users will have the ability to receive payouts through international payment systems such as ACH and SEPA, which will be automatically converted into USDT, USDC, or cUSD, without the involvement of intermediaries, custodians, or third-party applications.
A significant aspect of this solution is the direct integration of local payment methods within MiniPay. Users can execute direct transfers using Pix in Brazil, M-Pesa in Kenya, and bank transfers in Nigeria, utilizing stablecoin balances without the necessity to convert to fiat currency.
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MiniPay is currently operational in over 50 countries, and with the newly added features, users will be able to transfer funds through local channels in more than 70 locations. The application facilitates payments for mobile services, utilities, digital subscriptions, and micro-earnings, all with zero transaction fees. To date, over 8 million wallets have been activated, and more than 200 million transactions have been processed.
Noah, on its part, offers an API that links payment flows between fiat currencies and cryptocurrencies globally. The company adheres to regulations in over 70 countries, providing integrated currency operations and liquidity management.
As per the World Bank data referenced in the press release, the average fee for cross-border transfers stands at 6.6%, while freelancers may incur losses of up to 15% due to platform fees and currency exchange losses. The new integration addresses these challenges, offering a more accessible and economical method for receiving and utilizing funds.
Max Krupyshev, CEO of CoinsPaid, remarked during a presentation to AmCham Estonia members that stablecoins have evolved into a legitimate financial instrument actively utilized by businesses, propelled by stable exchange rates, rapid transfer speeds, and low fees.
By the conclusion of 2024, the overall transaction volume involving stablecoins is projected to closely align with the figures of the international payment leader Visa, with the share of stablecoins in areas such as B2B payments and cross-border settlements continuing to expand significantly.
Сообщение Non-Custodial Solution Launched for Global and Local Payments in Stablecoins появились сначала на CoinsPaid Media.
