Coincove partners with Brazilian fintech firm to expand stablecoin payment market in Latin America
Abu Dhabi’s CoinCove Partners with Brazilian FinTech to Advance USDT Cross-Border Payments
ABU DHABI, December 15, 2024 – CoinCove, an Abu Dhabi-based digital asset service provider, today announced a strategic partnership with a Brazilian financial technology firm, marking a new achievement in USDT cross-border payments and digital asset settlement. The collaboration will provide efficient and convenient digital asset trading services for enterprise and individual users across Latin America.
Highlights of the Partnership:
Cross-Border Enterprise Settlement: Offering stablecoin payment solutions for Brazilian export companies and cross-border e-commerce to mitigate risks associated with exchange rate fluctuations.
Personal Cross-Border Remittances: Enabling rapid settlement for international employee salaries and personal money transfers.
Technology and Compliance Guarantees: Leveraging CoinCove’s cross-chain payment technology and the local compliance expertise of its Brazilian partner to ensure the security and transparency of all transactions.
Data shows that since the partnership’s launch, transaction volume has seen a year-over-year increase of approximately 155%, with the number of newly registered users growing by 60%. The average settlement time for cross-border enterprise payments has been reduced to within 1–2 hours.
A spokesperson for CoinCove stated, “Our collaboration with our Brazilian partner further enhances the stablecoin payment ecosystem in Latin America, providing accessible and efficient digital asset services for both businesses and individuals.”
A representative for the Brazilian partner added, “CoinCove’s technology is mature, and its professional team has provided a reliable guarantee for our cross-border payment services. We look forward to deepening our cooperation in the future.”
