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Payments General

Paysend Group launches new global stablecoin on the Stellar Network

Tuesday 14 May 2019 | 11:43 AM CET

Paysend Group, a global UK-based fintech company, has announced that it will launch a new global stablecoin on the Stellar network.

The global stablecoin will provide a consistent store of value that users can hold, or trade and transact with in real time. The Paysend stablecoin will be available in June 2019.

The Paysend stablecoin is built directly on Stellar, which was designed expressly for tokenizing assets and making payments. 

Paysend’s card-to-card and proxy-card technologies currently serves over a million customers worldwide, including 700,000 expats and multi-currency account holders, across 70 countries and currencies.

Paysend works with global banks, international and local payment systems, and has partnerships with major international card networks such as Visa, Mastercard, and China Union.

Stellar is a platform for decentralized financial products and services. It is both a cross-currency transaction system, designed specifically for international settlement, and a decentralized global marketplace. Dozens of financial institutions and tens of thousands of individuals worldwide issue assets and settle payments on Stellar.

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