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Canadian fintech Nuvei has launched payment settlement using stablecoin for merchants in Latin America. Interoperability platform Rain, digital custodian BitGo and card issuer Visa are its partners in the blockchain-based solution.
<h2 id="ever-tighter-integrations-in-latam">Ever tighter integrations in Latam</h2>
Latam merchants participating in the Nuvei solution will be able to use a physical or virtual Visa card to make payments in stablecoin from a digital wallet. BitGo will provide digital asset custody.
The service will be available anywhere Visa is accepted. It will provide faster cross-border transactions, reduced complexity and improved operational liquidity compared with traditional payment rails, <a data-ct-non-breakable="null" href="https://www.nuvei.com/posts/nuvei-launches-comprehensive-blockchain-payment-solution" rel="noopener noreferrer nofollow" target="null" text="null" title="null">according</a> to a statement.
The statement called the new solution “Nuvei's expansion into blockchain payments,” although the company <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/payments-firm-nuvei-launches-support-for-40-cryptos-including-reddcoin-and-doge" rel="noopener noreferrer nofollow" target="null" text="null" title="null">launched transactions in</a> almost 40 cryptocurrencies in 2021.
Visa <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/avalanche-visa-crypto-spending-card" rel="noopener noreferrer nofollow" target="null" text="null" title="null">rolled out a cryptocurrency</a> card for consumers linked to self-custody wallets in Latam in collaboration with the Avalanche Foundation in October.
Visa and Nuvei have cooperated before when Nuvei and Worldpay integrated with Visa to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/visa-taps-into-solana-to-widen-usdc-payment-capability" rel="noopener noreferrer nofollow" target="null" text="null" title="null">provide payments using</a> Circle’s USD Coin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/usdc-price-index">USDC</a>) on the Solana and Ethereum blockchains in pilot projects.
USDC was mentioned in the announcement of the new solution, but only as an example of a stablecoin that could be used. USDC <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/circle-integrates-usdc-national-payment-systems-brazil-mexico" rel="noopener noreferrer nofollow" target="null" text="null" title="null">is already integrated</a> into the real-time payment systems of Brazil and Mexico.
Nuvei has been expanding rapidly in the Latam region. In 2024, it has implemented local acquiring services in Colombia and Mexico. Local acquiring is the use of an in-country financial institution to process card payments. Nuvei also received a Payment Institution license in Brazil.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mastercard-sees-partnerships-key-blockchain-remittances-latam" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Mastercard sees partnerships as key to blockchain remittances in Latam</a>
<h2 id="mastercard-has-a-piece-of-the-action-in-other-regions">Mastercard has a piece of the action in other regions</h2>
Nuvei <a data-ct-non-breakable="null" href="https://investors.nuvei.com/news-releases/news-release-details/nuvei-introduces-ramping-digital-assets-cards-mastercard-move" rel="noopener noreferrer nofollow" target="null" text="null" title="null">partnered</a> with Mastercard in July to provide European consumers with an off-ramp for digital assets through Mastercard’s Move. Mastercard piloted a commercial Move solution with blockchain payment firm Fnality.
<figure><img alt="Nuvei, Visa partner on stablecoin payments for Latam merchants" src="https://s3.cointelegraph.com/uploads/2024-12/01939d3d-9a5a-75fb-bb92-61559e668c18" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/Nuvei/status/1864369267979821286" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/Nuvei/status/1864369267979821286">Nuvei</a>
 </figcaption>
</figure>
Mastercard<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac" rel="noopener noreferrer nofollow" target="null" text="null" title="null"> partnered with Australian</a> stablecoin platform Stables in 2023 to allow consumers Asia-Pacific region to spend USDC everywhere the card is accepted. Stables provided the wallet services and settlement engine for the deal. Deposits to the wallets can be made by a variety of methods. Deposits in other stablecoins are automatically converted into USDC.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-printing-tokens-bots-subsidies/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">What Solana’s critics get right… and what they get wrong</a>

Nuvei, Visa partner on stablecoin payments for Latam merchants

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