Corpay partners with BVNK to introduce a stablecoin wallet for cross-border business payments.

CoinFeed reported on May 11th that, according to CoinDesk, payment company Corpay has partnered with BVNK to add stablecoin wallets and settlement functionality for its global corporate clients. This allows them to view stablecoin and fiat currency balances within the platform and perform sending, receiving, storing, and exchanging transactions. Corpay will also utilize stablecoin payment channels in its own financial operations to reduce reliance on pre-charged accounts, improve capital efficiency, and accelerate global fund transfers. Furthermore, Corpay has already implemented blockchain settlement channels for some cross-border payments through JPMorgan's private blockchain Kinexys and BVNK's stablecoin infrastructure, operating alongside SWIFT, its own iACH network, and local real-time payments. BVNK previously partnered with Visa and was acquired by Mastercard for up to $1.8 billion.