MONTREAL, October 20, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that its merchant client base can now benefit from instant settlement globally and around the clock in EUROC and USDC stablecoins.
Fast liquidity is a real revenue accelerator for businesses. While merchants in many countries benefit from instant settlement through various payment schemes such as Instant SEPA, RTP or Faster Payments, alternatives are not always available in all corners of the world. That is where stablecoins come in.
Stablecoins are price-stable digital currencies backed by a fiat currency such as the Euro or US Dollar. 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.
“The addition of settlement through the EUROC and USDC stablecoins helps merchants build their next-generation payment treasury,” said Nuvei President Yuval Ziv. “Stablecoins can be transacted by utilizing the blockchain making global cashflow easier to manage,” he added.
Nuvei already offers its merchants instant settlement in locations where Instant SEPA, RTP and Faster Payments are available in fiat currencies. But for those merchants trading on the blockchain or those located in regions where these options are not available, settlement in USDC and EUROC stablecoins provides a much needed, viable alternative.
“Providing instant settlement for merchants is part of the broader real-time payments initiatives designed to shape the future of payments,” said Ziv. “With instant settlement now possible globally, around-the-clock and also in EUROC and USDC stablecoins, we’re staying true to our mission of helping merchants accelerate their business through payments.”
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.