Navro says there is growing demand for payments in stablecoins from contractors and freelancers in countries with high inflation and unreliable local currencies. For organisations needing to pay these professionals, stablecoins can simplify multi-country workforce payroll and reduce the need for complex foreign exchange conversions.
As a result, the integration of stablecoin payments is of particular interest to Employer of Record platforms – a key customer segment for Navro.
Aran Brown, CEO, Navro, says: “From the outset, Navro’s focus has been on developing fresh approaches, processes and infrastructure to remove some of the headaches that have historically plagued international payments – issues such as management complexity, opaque and excessive fees, or a lack of control over the end user’s experience.
“Introducing stablecoins as an alternative payment rail gives our customers even more choice about how they can best fulfil their specific requirements for cross-border transactions.”
BVNK has emerged as a key player in the fast-growing stablecoin market, processing over $30 billion annually for global enterprises and payment service providers.
,Recently it was subject to takeover interest from Coinbase, although the proposed $2 billion deal eventually fell through.
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