Developer Six Clovers Rolls Out Cross-Border Crypto Payments on Sui
The Versal Network will allow companies to transact in stablecoins and central bank digital currencies....
- Six Clovers has released Versal Network on the Sui blockchain to facilitate cross-border transactions.
- Sui blockchain also includes Transak and Halliday HQ, offering services like buying SUI token with fiat money.
- Sui blockchain launched its mainnet in May and has achieved a peak of 1,007 transactions per second (tps) in the past 30 days.
- Cross-border payments using cryptocurrency have gained attention, with the Bank for International Settlements and the International Monetary Fund testing CBDC transactions.
- Strike, a digital payments firm, expanded its Lightning Network payments service to Mexico.
- Versal Network's programming hooks (API) allow businesses to integrate the network into their existing technology stacks for transacting in stablecoins and CBDCs.
- Total value locked (TVL) on the Sui Network is currently around $11.8 million.
The article provides information about the release of Versal Network on the Sui blockchain, highlighting the potential for facilitating cross-border transactions. It also mentions the growing interest in cross-border payments using cryptocurrency and the expansion of digital payments services. Overall, the sentiment is positive, focusing on the advancements and opportunities in the crypto payments industry.