Cryptocurrency compliance infrastructure provider Wyre has announced a partnership with the Stellar network to integrate the Brazilian real (BRL) and Argentine peso (ARS) with digital assets. The company expanded functionality in Latin America and enabled developers and businesses to accept new forms of payment.
Wyre will work with the Settle Network, which is Stellar’s anchor and has the infrastructure needed to process cross-border transactions, payments, and digital assets.
According to Wyre co-founder and CEO Ioannis Giannaros, the integration with Stellar will provide partners with easy access to the largest countries in Latin America and open the world of cryptocurrencies to millions of people. Through cooperation, local entries and exits from fiat money will be created. This will allow individuals and businesses to seamlessly convert Brazilian and Argentinean currencies into digital assets and vice versa.
Erich Grant, director of business development at Wyre, also noted that creating an accessible cryptocurrency infrastructure is critical in an environment where digital assets are becoming an increasingly popular means of payment.
Denell Dixon, CEO of the Stellar Development Foundation, added to the above that the blockchain anchor network expands the possibilities for developers to securely connect crypto assets through foreign currency. The company is excited to partner with Wyre. This integration democratizes finance in one of the largest emerging markets for cryptocurrencies and provides broad access to digital capital through a secure system.
Earlier, the editors of Crypto.ru reported on the forecast of the Stellar (XLM) coin rate in 2022.
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