Trace Finance Joins Borderless.xyz Network
In a significant move for the digital finance ecosystem in Brazil,
Trace Finance has officially joined the
Borderless.xyz network. This partnership is poised to enhance the capabilities of stablecoin transactions across Brazil, particularly by integrating Trace Finance's robust foreign exchange (FX) liquidity and local payment systems into the existing Borderless infrastructure.
Enabling Seamless Transactions
Borderless.xyz is known for its cutting-edge global payments infrastructure that focuses on enabling transactions that make use of stablecoins and real-world assets (RWAs). By welcoming Trace Finance, a prominent player in the digital asset space within Brazil, the network aims to streamline the process of FX transactions and stablecoin payments. This collaboration is crucial in making cross-border transactions more efficient, transparent, and cost-effective across the Brazilian market.
Kevin Lehtiniitty, CEO of Borderless.xyz, expressed his enthusiasm about this collaboration, stating, "Our goal has always been to make cross-border transactions simpler and more efficient. Brazil represents a crucial market for the adoption of stablecoins given its significant remittance flows and demand for quicker, low-cost settlement options. The capabilities of Trace Finance align seamlessly with our mission. We're excited to integrate their infrastructure into our global network."
Driving Down Costs
One of the primary objectives of this integration is to reduce the costs associated with stablecoin-based FX transactions. As financial operations increasingly shift towards digital platforms, institutions and enterprises require faster, more reliable payment methods. With this collaboration, users can expect to enjoy these benefits, making it easier to navigate through the complexities of international financial transactions.
The CEO of Trace Finance, Bernardo Brites, reaffirmed the importance of this partnership, stating, "We're thrilled to join such a powerful network. This collaboration will grant Borderless's existing partners easy access to seamless Brazilian Real (BRL) on/off ramps with stablecoins, named accounts, and third-party payments delivered at prices close to the mid-market rate. Trace Finance already facilitates the movement of hundreds of millions of USD monthly, and by uniting with Borderless, we'll enhance our payment capabilities and open new corridors for instant settlement along with competitive pricing."
A Vision for the Future
The implications of this partnership extend far beyond enhanced payment capabilities. It represents a significant step towards integrating stablecoin platforms with local payment providers under a unified framework. By doing so, Borderless.xyz aims to empower users to move value across borders with greater ease, efficiency, and transparency.
Borderless.xyz is committed to refining the way on-chain transactions take place, making them more compatible with existing traditional financial systems. By bringing Trace Finance into the fold, the network is better equipped to deliver top-tier payment solutions that can adapt to the evolving landscape of global finance.
About Borderless.xyz
Borderless.xyz is recognized as a leading global payments infrastructure firm that facilitates transactions using internet-native currencies, including stablecoins and RWAs. Their comprehensive framework spans over 50 countries and incorporates 23 currencies, all aimed at empowering businesses and individuals to create efficient money movement across borders while promoting access to stable currencies in emerging markets.
About Trace Finance
Trace Finance is dedicated to facilitating smooth cross-border money transfers and providing easy access to stablecoins for global payment institutions. With an impressive track record of processing over $4 billion in transaction volume, Trace Finance offers instant settlement, regulatory compliance, and top-tier FX and crypto on/off ramps, making them a key player in the digital finance sector.
For those looking to learn more about these services, Trace Finance provides resources on their official
website, while Borderless.xyz offers insights and updates through their
site.