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Canadian fintech Nuvei Corporation has launched a blockchain-based payment solution for merchants across Latin America, enabling businesses to use stablecoins for cross-border transactions and settlements.
The solution, developed in partnership with vertically integrated issuer Rain, digital asset custodian BitGo, and Visa, allows merchants to make payments using stablecoins, including USD Coin (USDC), from a digital asset wallet through Visa's payment network.
Philip Fayer, Nuvei Chair and CEO, said: "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 said: "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."
BitGo Director Luis Ayala added: "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."
The launch follows Nuvei's recent expansion in Latin America, where it became the first global payments provider to offer direct local acquiring in Colombia, implemented local acquiring services in Mexico, and obtained a Payment Institution licence in Brazil.
Nuvei currently processes payments in over 200 markets, with local acquiring in 50 markets, supporting 150 currencies and 720 alternative payment methods.
