ABU DHABI, September 15, 2024 – CoinCove, an Abu Dhabi-based digital asset service provider, today announced a partnership with a local UAE enterprise, marking new progress in USDT cross-border payments and digital asset settlement. The collaboration aims to provide efficient and convenient transaction services for enterprise and individual users across the Middle East.
Partnership Highlights:
Cross-Border Enterprise Settlement: Offering stablecoin payment solutions for Middle Eastern export companies and cross-border e-commerce to reduce transaction costs.
Personal Cross-Border Remittances: Providing fast and secure remittance services for both domestic and international employees.
Technology and Compliance: Ensuring fund security by combining CoinCove’s cross-chain payment technology with the local compliance framework.
Data indicates that since the partnership’s launch, transaction volume has increased by approximately 160% year-over-year, new registered users have grown by 63%, and the average enterprise settlement time has been reduced to within 1–2 hours.
A spokesperson for CoinCove stated, “Partnering with a local enterprise allows for a smoother implementation of stablecoin payments in the Middle East market, bringing a more efficient and convenient payment experience to our clients.”
A representative for the UAE partner commented, “CoinCove’s professional technology and services have provided us with a stable and efficient payment experience. Both parties will continue to deepen the collaboration going forward.”
