Nuvei said Tuesday that it has expanded its global money movement platform to include stablecoin-backed payout rails, aiming to speed up and reduce the cost of cross-border transfers, particularly in emerging markets underserved by traditional banking networks.
Nuvei Expands Stablecoin-Powered Payouts to Boost Emerging Market Transfers
The Canadian payments firm said the enhancement allows businesses to move fiat currency account to account across borders with same-day or next-day settlement, bypassing slower and more expensive SWIFT transfers.
By using blockchain technology on the backend, Nuvei said it can reduce reliance on intermediaries and deliver funds more efficiently.
“Our mission is to simplify and accelerate money movement globally so businesses can focus on growth,” said Phil Fayer, chair and chief executive of Nuvei. “With this extension, we’re giving our customers the ability to move fiat account to account, across borders, faster and more cost-effectively than ever before.”
Nuvei’s expanded capabilities cover intra-company transfers, single-party vendor payments, and multi-party disbursements such as global payroll, marketplace seller payouts and remittances.
The company said these functions are especially valuable in fast-growing economies where outdated financial infrastructure often delays transactions.
The platform integrates multiple foreign exchange providers to secure competitive rates and supports local settlement in 150 currencies across more than 200 markets.
Once virtual bank accounts are funded using local payment rails, stablecoin settlement facilitates the cross-border leg, with payouts completed in local currency by partner institutions.
Nuvei said the solution complements its existing bank transfer, real-time payment, eWallet and card network offerings, helping businesses reach recipients even in rural or underbanked areas.
