Vaulta and VirgoCX partner to launch stablecoin-powered VirgoPay app
Vaulta, a Web3 banking infrastructure provider, has partnered with VirgoCX Global Holdings to introduce VirgoPay, a new remittance platform designed to simplify and accelerate cross-border transactions.
- The platform will use stablecoins to cut costs and improve transfer speeds, offering a faster alternative to traditional remittance methods.
- VirgoPay is scheduled to launch in May, with Vaulta acting as the default settlement layer to ensure seamless global payments.
VirgoPay aims to streamline cross-border remittances
VirgoPay will support funding through both traditional payment methods—like bank transfers, card payments, and e-transfers—and crypto wallets, allowing users greater flexibility.
- The app leverages stablecoins as intermediaries, enabling near-instant settlement with significantly lower fees, cutting costs by up to 70%.
- By eliminating reliance on multiple banking intermediaries, VirgoPay addresses the slow and expensive nature of legacy remittance systems.
Yves La Rose, CEO of Vaulta Foundation, highlighted the platform’s utility for underserved regions.
- He emphasized that many regions lack sufficient banking infrastructure, which slows remittances and increases fees.
- VirgoPay offers a Web3-driven alternative, enhancing global financial inclusion.
Stablecoins as a gateway to financial access
This initiative supports Virgo’s broader mission to increase financial accessibility via distributed ledger technology.
- Adam Cai, CEO of Virgo, described stablecoins for payments as the “first killer app” of blockchain technology.
- VirgoPay’s goal is to deliver seamless money movement, particularly in regions where access to banking services is limited or unreliable.
The app’s focus aligns with growing interest in blockchain-based financial tools that prioritize speed, transparency, and cost-efficiency.
Global rollout to target key remittance corridors
Phase one of VirgoPay’s expansion will connect users in financial hubs including the U.S., Canada, Hong Kong, Argentina, Brazil, and Australia.
- These regions represent high-volume corridors for both personal remittances and business payments.
- The second phase will expand into South America, Southeast Asia, and the Middle East, targeting emerging markets where remittances are a critical lifeline.
This phased rollout positions VirgoPay to serve a significant portion of the $1 trillion global remittance market projected by 2029.
Vaulta eyes broader Web3 banking ecosystem growth
Vaulta, which recently rebranded from the EOS Network, continues building out its Web3 financial infrastructure, with more integrations expected soon.
- VirgoPay represents a major step in Vaulta’s evolution as a provider of next-generation banking systems, especially in the decentralized finance sector.
- The collaboration underscores the potential of stablecoin-backed platforms in reshaping how money moves globally.
