PPRO has partnered with UK-based Damisa to use stablecoin rails for treasury and cross-border settlement, starting in Latin America.
Under the agreement, PPRO, which provides local payment methods to payment service providers (PSPs) and merchants, uses Damisa’s on- and off-ramp network to move its funds. Damisa converts the funds into regulated stablecoins and transfers them across borders on the same day, with settlement in PPRO’s currency of choice. The arrangement began as a deployment focused on Latin America.
Replacing correspondent chains with a single rail
The model replaces multi-bank correspondent chains with one regulated rail. According to the companies, this reduces the capital PPRO needs to prefund in each market and gives it full visibility over every payment. For a platform that collects funds through local methods across many jurisdictions, prefunding requirements and limited transparency in correspondent flows directly affect treasury operations.
Latin America served as the initial market. The two companies describe the region as one of the fastest growing for local payments, but also as one of the hardest from which to move money out efficiently.
Following the first rollout, Damisa now supports collection, cross-border movement, and local-currency settlement as the partnership extends to new markets. Almir Majcic, VP Treasury at PPRO, noted that the company continues to require fast and reliable ways to move funds across borders as its platform grows, adding that the results in Latin America supported the decision to expand the arrangement.
Regulatory backdrop for stablecoin settlement
The collaboration comes as correspondent banking has been withdrawing from many of the corridors where cross-border demand is growing fastest. In parallel, stablecoin regulation has developed through frameworks such as MiCA in the EU and the GENIUS Act in the US. Damisa argues that, together, these shifts have positioned regulated stablecoin rails as a credible settlement layer for institutional payment flows, instead of a tool limited to crypto-native businesses.
Damisa operates as a multi-jurisdiction platform. It holds an Australian Financial Services Licence with AUSTRAC digital currency exchange and remittance registration, is registered as a Money Services Business with FINTRAC in Canada and holds a VASP registration in Poland. Its Malta CASP and Payment Institution authorisations are in progress. In addition, sanctions, AML, and transaction screening are applied to every payment.
