New York, New York, October 23rd, 2024,
Chainwire
The global payments infrastructure
company already covers more than 50 countries and 23 currencies for
cross-border transfers, payouts, collections, onramps, and
offramps.
Borderless.xyz, a global payments
infrastructure company that enables transactions using stablecoins
and real-world assets (RWAs), announces its emergence from stealth
with $3M in pre-seed funding led by Amity Ventures along with
executives of leading companies such as Michael Shaulov of
Fireblocks, Jess Houlgrave of WalletConnect, Anton Katz of Talos,
among others.
Traditional fintechs and remittance methods operate in closed
systems that involve multiple intermediaries. According to the
team, this approach can lead to inefficiencies and drive 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 unified liquidity framework and
orchestration layer between stablecoins and local fiat currencies
around the world. Building on top of the tremendous progress made
recently by locally licensed crypto-enabled infrastructure
providers like Bridge, Borderless.xyz is already working with six
Participating Financial Institutions (PFIs), to enable payments
companies to bridge stablecoins with local fiat currencies around
the world, providing real time and low cost settlement that allows
for global money movement.
“Payments is one of the most geographically fragmented
sectors in banking which still applies to stablecoins,” said Kevin
Lehtiniitty, CEO of Borderless.xyz. “We dream of a Visa-like
network for stablecoins where a single unified network can be used
to move money anywhere, at any time, and on any chain. Over the
last year we’ve been building out the supply side of our network of
PFIs to support stablecoin/fiat liquidity in over 50 countries. We
are excited to start onboarding wallet providers, remittance
companies, and protocols to use the network in an effort to
transform outdated payments systems into a robust, modern financial
infrastructure.”
“Every so often, a company comes along that
fundamentally changes an industry,” said CJ Reim, GP of Amity
Ventures. “Borderless.xyz is introducing infrastructure that will
reshape the way money moves around the globe improving the
availability and speed of payments all while decreasing costs. By
building on top of the foundation created by stablecoins and
blockchain networks, Borderless.xyz is introducing the central
network paving the way for a new era of seamless payments that has
never been possible before.”
To learn more about Borderless.xyz, users can visit their
website: https://borderless.xyz/ and follow them on
X (Twitter).
About Borderless.xyz
Borderless.xyz is a leading global payments
infrastructure company designed to facilitate transactions using
internet native money including stablecoins and real-world assets
(RWAs). Covering more than 50 countries and 23 currencies,
Borderless.xyz’s mission is to empower builders to create efficient
money movement, deliver stable currencies to emerging markets, and
drive the transition to onchain banking. To learn more about
Borderless.xyz, users can visit https://borderless.xyz/.
Contact
CEO
Kevin
Lehtiniitty
Borderless.xyz
Kevin@borderless.xyz