[Singapore] WasabiCard expands global payout service to 30 fiat currencies

The Singapore-based payments company WasabiCard has announced the expansion of its global payout service to support distributions in more than 30 fiat currencies, extending the cross-border payment reach for businesses on its platform, IT Brief reports.

According to the company, the service allows businesses to send funds through eligible payment corridors for payroll, contractor payments, supplier settlements, creator and affiliate commissions, marketplace disbursements, and treasury transfers.

At its centre is a model which reportedly links stablecoin funding with fiat payment networks. Businesses can fund payment operations with stablecoins and, depending on the destination and recipient, convert those funds into local currency before payment.

WasabiCard says settlement is available in more than 30 fiat currencies, with real-time or T+0 processing in applicable corridors. Supported currencies, limits, timing, and availability depend on the destination market, the business entity involved, local banking infrastructure, and compliance requirements.

The expanded service includes multi-currency payouts to eligible recipients through supported bank accounts and other receiving methods. In addition, the fintech says it offers payment routing based on currency, destination, cost, and expected settlement time.

Transaction data can reportedly be used for reconciliation, reporting, and audit processes. The service also supports transfers to same-name bank accounts in eligible corridors for treasury management and fund consolidation.

Source: IT Brief

The Singapore-based payments company WasabiCard has announced the expansion of its global payout service to support distributions in more than 30 fiat currencies, extending the cross-border payment reach for businesses on its platform, IT Brief reports.

According to the company, the service allows businesses to send funds through eligible payment corridors for payroll, contractor payments, supplier settlements, creator and affiliate commissions, marketplace disbursements, and treasury transfers.

At its centre is a model which reportedly links stablecoin funding with fiat payment networks. Businesses can fund payment operations with stablecoins and, depending on the destination and recipient, convert those funds into local currency before payment.

WasabiCard says settlement is available in more than 30 fiat currencies, with real-time or T+0 processing in applicable corridors. Supported currencies, limits, timing, and availability depend on the destination market, the business entity involved, local banking infrastructure, and compliance requirements.

The expanded service includes multi-currency payouts to eligible recipients through supported bank accounts and other receiving methods. In addition, the fintech says it offers payment routing based on currency, destination, cost, and expected settlement time.

Transaction data can reportedly be used for reconciliation, reporting, and audit processes. The service also supports transfers to same-name bank accounts in eligible corridors for treasury management and fund consolidation.

Source: IT Brief