Summary
- Visa said it signed a partnership with AquaNow and plans to expand its stablecoin business in Europe, the Middle East and Africa (CEMEA).
- It said that through this cooperation, stablecoin payment services such as USDC will be provided in the region.
- Visa emphasized it will reduce reliance on existing systems while improving payment costs, time and operational inefficiencies.
Global payments company Visa is partnering with crypto service provider AquaNow to expand its stablecoin business to Europe, the Middle East and beyond.
Visa announced on the 27th (local time) that it had entered into a partnership with AquaNow. Visa said, "Through the partnership with AquaNow, we will expand stablecoin payment capabilities across Central and Eastern Europe, the Middle East and Africa (CEMEA)."
Visa plans to provide stablecoin payment services such as Circle (USDC) in the CEMEA region together with AquaNow. Visa said, "We expect that AquaNow's crypto infrastructure will be able to improve stablecoin payment costs and time, and operational inefficiencies."
Godfrey Sullivan, head of Visa's CEMEA products and solutions, said, "The partnership with AquaNow will modernize the payment backend systems and reduce reliance on existing systems with multiple intermediaries," adding, "(The partnership is) another important step to enable financial institutions to prepare for future movements of funds."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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