Bastion Integrates with Borderless.xyz to Combine Regulated Wallet Infrastructure with Global Banking Rails

Campbell, California, October 31st, 2024, Chainwire

Combining regulated wallet infrastructure with stablecoin orchestration, Bastion now enables fiat on-ramps and off-ramps across 50+ countries through its unified stablecoin APIs.

Traditional remittance methods operate in closed systems that involve multiple intermediaries which drives up costs for consumers and businesses. Borderless.xyz seeks to address this issue with a blockchain-based network called Global Transfer Protocol (GTP) which serves as a liquidity framework between stablecoins and local fiat currencies around the world. Currently working with six participating Financial Institutions (PFIs), GTP enables global stablecoin to local fiat currencies conversion, providing real-time and low-cost settlement that allows for global money movement.

“Strong liquidity between stablecoins and local fiat banking rails is critical to building stablecoin based payment solutions as well as on-ramps and off-ramps, ” said Nassim Eddequiouaq co-founder of Bastion and former CISO of a16z crypto. “We evaluated the leading industry solutions and determined Borderless.xyz’s Global Transfer Protocol was the best infrastructure to incorporate in order to support the market shift to onchain payments.”

Bastion believes the future of cryptocurrencies and stablecoins lies in regulation, prioritizing compliance to meet not only current US standards but also regulatory shifts. This regulatory coverage is especially crucial when working in the payments space.

“Regulated wallets are a cornerstone for institutional adoption of stablecoins in payments,” said Kevin Lehtiniitty, CEO of Borderless.xyz. “We’ve been extremely impressed with the team at Bastion and are excited to work alongside their best in class products to deliver the next generation of infrastructure to PSPs, payroll providers, and on-ramps and off-ramps”.

Bastion’s regulated wallet APIs are built on a foundation of:

• Robust Compliance
• Enhanced Security
• Cost-Efficiency
• One Unified Platform

Bastion’s regulated wallet infrastructure combined with Borderless.xyz’s protocol creates a robust end-to-end platform together in one API for innovators to build their applications. This enables on-ramps, off-ramps, and payments companies to get to market 5 times faster with a 70% reduction in compliance costs.

Stablecoins represent the future of the payments industry. Through the Bastion platform, Bastion and Borderless.xyz are powering the next generation global value transfer.

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