ABU DHABI, March 15, 2024 – CoinCove, an Abu Dhabi-based digital asset service provider, today announced a partnership with a Hong Kong financial technology company, marking a new achievement in USDT cross-border payments and digital asset settlement. The collaboration aims to optimize the payment network in Hong Kong and its surrounding markets, providing a more secure and convenient digital asset trading experience for both enterprise and individual users.
Partnership Highlights:
Cross-Border Supply Chain Payments: Providing stablecoin settlement for export enterprises in Hong Kong and the Pearl River Delta to reduce cross-border transaction costs.
Personal International Remittances: Supporting fast, low-fee cross-border remittances for individual users.
Compliance and Security: Combining local regulatory experience with CoinCove’s technology to achieve a secure and transparent payment process.
Data shows that during the partnership period, total transaction value increased by approximately 160% year-over-year, with a 60% growth in new registered users. The efficiency of cross-border enterprise settlement has improved, with the average settlement time reduced from one day to within two hours.
A spokesperson for CoinCove stated, “This collaboration provides customers in the Hong Kong market with more efficient, low-cost digital asset services and sets a benchmark for the adoption of stablecoin applications.”
A representative for the Hong Kong partner commented, “Partnering with CoinCove gives us a stronger competitive edge in stablecoin payments and cross-border settlement. We will continue to explore innovative applications in digital finance in the future.”
