ABU DHABI, May 15, 2024 – CoinCove, an Abu Dhabi-based digital asset company, today announced a partnership with a leading South Korean financial technology firm, achieving significant results in USDT cross-border payments and stablecoin applications. This collaboration aims to optimize the cross-border payment network for South Korea and its surrounding markets, providing a secure and efficient digital asset trading experience for both enterprise and individual users.
Partnership Highlights:
Cross-Border Enterprise Settlement: Offering stablecoin settlement services for South Korean export companies and cross-border e-commerce to mitigate risks from exchange rate fluctuations.
Personal Cross-Border Remittances: Providing fast, low-fee international transfer services for South Korean international students and freelancers.
Technology and Compliance: Leveraging CoinCove’s cross-chain payment technology and local South Korean compliance expertise to ensure transaction security and transparency.
Data shows that since the partnership’s launch, total transaction value has increased by approximately 165% year-over-year, the number of new registered users has risen by 63%, and the average settlement time for cross-border enterprise payments has been reduced from the original 24 hours to within 2 hours.
A spokesperson for CoinCove stated, “Our close collaboration with our South Korean partner marks a significant step forward for us in the Asian stablecoin application sector, delivering a more secure and efficient payment experience for businesses and individuals.”
A representative for the South Korean partner commented, “CoinCove’s professional expertise in stablecoin transactions and cross-chain payment technology has provided a solid guarantee for our cross-border business. We will explore more partnership models in the future to jointly drive innovation in digital finance.”
