ABU DHABI, July 15, 2024 – CoinCove, an Abu Dhabi-based digital asset company, today announced a strategic partnership with a UK financial technology firm to jointly advance the adoption of USDT for cross-border payments and settlement in the European market. This collaboration aims to enhance payment efficiency and optimize cross-border capital flow for both enterprise and individual users in Europe.
Partnership Highlights:
Cross-Border Enterprise Settlement: Offering stablecoin payment solutions to European export companies, reducing cross-border transaction costs and exchange rate risks.
Cross-Border E-commerce Payments: Enabling rapid settlement with USDT for UK e-commerce platforms.
Technology and Compliance: Ensuring transactional security and regulatory compliance by combining CoinCove’s cross-chain payment technology with the UK’s local regulatory framework.
Data shows that since the partnership’s launch, USDT transaction volume in the European market has seen a year-over-year increase of approximately 170%. The number of new registered users has grown by about 65%, and the average enterprise settlement time has been reduced from 24 hours to within 2 hours.
A spokesperson for CoinCove stated, “Our close collaboration with our UK partner makes the application of stablecoins in the European market more efficient and secure, driving the widespread adoption of digital asset payments.”
A representative for the UK partner commented, “CoinCove’s mature technology and professional team have provided a solid foundation for our cross-border payment services in the European market, and we will continue to deepen our partnership in the future.”
