Nuvei Rolls Out Blockchain Payments Solution for Faster Cross-Border B2B Transactions in Latin America
Nuvei, a leading global payments provider, has launched a new blockchain-powered solution tailored for merchants across Latin America. The innovative platform allows businesses to make faster and more efficient cross-border B2B payments, utilizing stablecoins for seamless transactions.
Merchants will be able to leverage this platform, offered in collaboration with Visa, vertically integrated issuing partner Rain, and digital asset custodian and wallet solutions provider BitGo.
"By integrating stablecoin technology into our payment platform for B2B settlement, we’re ensuring our merchants continually receive unparalleled flexibility, security and global reach," said Philip Fayer, Chairman and CEO of Nuvei.
This comes as part of Nuvei’s ongoing efforts to solidify its presence in Latin America. Earlier in the year, Nuvei acquired Brazilian payments institution Pay2All, securing a strong foothold in the Latin American market.
With Pay2All’s payment institution license from Brazil’s central bank, Nuvei can act as an "issuer of electronic currency," offering services such as accepting payments, managing eWallets and betting accounts, and participating in all of Brazil’s local payment systems, including processing PIX transactions.
Further expansion into Mexico includes implementing local acquiring services and working towards becoming a direct acquirer under the Comisión Nacional Bancaria y de Valores (CNBV).
This continued expansion encompasses Colombia, where Nuvei became the first global payments provider to offer direct local acquiring capabilities in the country earlier this year.
"Launching our direct local acquiring capabilities in Colombia augments our presence in LATAM and reinforces our commitment to growth in the region," Fayer said. "We are already active in more than 11 markets in LATAM… and adding direct local acquiring capabilities in Colombia strengthens our ability to provide best-in-class services to our customers across the region."
What are the key benefits for merchants using Nuvei’s blockchain-powered payment platform?
## Nuvei Uses Blockchain to Speed Up B2B Payments in Latin America
**[Interviewer]:** Welcome back to the show. Today, we’re talking about the rapidly evolving world of payments with a special focus on advancements in Latin America. Joining us is Alex Reed, [Alex Reed Title] at Nuvei, a global payments provider making waves with its innovative blockchain solutions.
**Alex Reed:** Thanks for having me.
**[Interviewer]:** Nuvei recently announced a new blockchain-powered solution specifically for merchants in Latin America. Can you tell us more about it?
**Alex Reed:** Absolutely. We’re excited about this launch! As a leader in global payments, we’ve seen a growing need for faster, more efficient B2B cross-border payments in Latin America. Our new platform addresses this by leveraging the power of stablecoins and blockchain technology to streamline these transactions.
**[Interviewer]:** How do stablecoins play a role in making these payments faster?
**Alex Reed:** Stablecoins offer a stable and secure alternative to traditional currencies for cross-border transactions. They are pegged to stable assets like the US dollar, minimizing volatility risks. This, combined with the speed and transparency of blockchain technology, allows us to process payments much faster than traditional methods.
**[Interviewer]:** What are some specific benefits for merchants using this solution?
**Alex Reed:** Merchants will benefit from reduced transaction times, lower fees, increased transparency and traceability, and ultimately, improved cash flow. These benefits are crucial for businesses looking to expand their operations across borders, particularly in a dynamic region like Latin America. [[1](https://www.nuvei.com/)]
**[Interviewer]:** This sounds like a significant development for the B2B payments landscape in Latin America. Where do you see this technology heading in the future?
**Alex Reed:** We believe blockchain technology has the potential to revolutionize payments globally. In Latin America specifically, we see a growing adoption of digital payment solutions, and we’re committed to providing merchants with the tools they need to succeed in this evolving landscape. This new solution is just the beginning of our journey towards a more efficient and inclusive financial ecosystem.
**[Interviewer]:** Thank you for sharing your insights, Alex Reed. This is certainly an exciting development to watch!
**Alex Reed:** Thank you.
