Six Clovers launches digital currency payments solution

Monday 21 June 2021 15:25 CET | News

Six Clovers, a decentralised global payments network, has announced the launch of its financial technology infrastructure allowing for transactions in digital currencies around the world.

The company is founded by former PayPal business and technology leaders Jim Nguyen and Nas Kavian and is backed by investments from Borderless Capital as the lead investor with participation from BCW Group and Grupo Supervielle, one of Argentina’s banks, along with angel investors.

The payment network is built on Algorand, a leading blockchain accelerating the convergence of decentralised and traditional finance. Six Clovers wants to meet the demand of faster payments with its launch of RAPID, a decentralised payment network.

The network uses regulated stable coins including USDC to represent fiat on-chain and enables the instant transfer of value between sender and receiver. Transactions are peer-to-peer, reducing counter party risk.

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Keywords: funding, DeFi, cross-border payments, blockchain
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3