Payment company Nuvei plans to acquire stablecoin and digital payment infrastructure provider Payoneer for $2.75 billion.

CoinFeed reported on June 15th, citing Bloomberg, that payments company Nuvei Corporation announced it will acquire Payoneer Global Inc. for approximately $2.75 billion. The transaction will integrate the two North American payments companies, bringing their combined annual transaction volume to over $500 billion. Under the agreement, Payoneer shareholders will receive $7.40 in cash per share, a premium of approximately 10% over its previous closing price of $6.75. Both companies stated that the merger will strengthen their positions in cross-border payments, merchant acquiring, and global funds settlement networks, further enhancing their competitiveness in the global digital payments infrastructure sector.