FinTech Wizz Financial achieved a company milestone for cross-border transactions, according to a March 12 press release. Wizz completed its first stablecoin-powered cross-border remittance and treasury transaction originating from the United States, with capabilities into 80 countries.
The transaction was carried out in collaboration with BitGo's digital trust bank, with Wizz using BitGo's wallet infrastructure and eTrade services to help convert fiat currency into stablecoins.
This allows for near-real-time settlement, improved liquidity management and compliant, scalable cross-border remittance flows across Wizz's global network, the release said.