Updates
Bastion Integrates with Borderless.xyz to Combine Regulated Wallet Infrastructure with Global Banking Rails
Oct 28, 2024
October 28, 2024 – Bastion integrated its regulated wallet infrastructure with Borderless.xyz’s Global Transfer Protocol (GTP) to enhance stablecoin capabilities, offering businesses access to global banking rails for seamless on-ramps, off-ramps, and payments. This integration leverages Borderless.xyz’s network, spanning over 50 countries, to provide fiat liquidity through Bastion’s scalable APIs.
The partnership aims to streamline global payments and remittances by utilizing stablecoins and local fiat currencies for real-time, low-cost settlements. By enabling the conversion of stablecoins to local fiat currencies, this collaboration addresses inefficiencies in traditional remittance systems that involve multiple intermediaries.
Kevin Lehtiniitty, CEO of Borderless.xyz, highlighted that regulated wallets are crucial for the institutional adoption of stablecoins in payments. This integration is designed to accelerate market entry for payments and on-ramp companies while reducing compliance costs by 70%. The collaboration marks a significant step toward the future of the payments industry, empowering businesses to use stablecoins for global value transfer.
For the full article, please visit Bastion.
