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Paysend reveals Pays XDR stablecoin solution for global payments

Tuesday 18 June 2019 11:34 CET | News

Paysend has announced the launch of a new solution for global payments, which leverage the transparency of blockchain technology and a well-established global network.

The UK-based global fintech company developed Pays XDR, a stablecoin backed 100% by basket of five currencies (US Dollar, Euro, Japanese Yen, Chinese Yuan, and British Pound). The new stablecoin was built directly on the Stellar network, and its aim is to provide a consistent store of value that users can hold, or trade and transact with in real time. 

Pays XDR is a straightforward way to make international payments without running the risk of sudden drops in value due to any currency volatility. It is instantly redeemable, open, and transparent, which means that Pays XDR can provide the missing element to transform the existing global payments system into a sustainable solution for the world.

Moreover, the solution can be used like any other currency for mainstream commerce, with just the use of a smartphone and a digital wallet. Thus, customers can manage their spending by sending Pays XDR to their Paysend Global Account card when they need it, and then make purchases. Also, merchants can accept Pays XDR just as they accept PayPal, or a Visa card.


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Keywords: Paysend, launch, global payments, stablecoin, Stellar, cryptocurrency, Pays XDR, UK, blockchain, fintech, payments, currency volatility, commerce, Visa, PayPal, merchants, dollar, euro, yen, yuan, pound
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Countries: World