Noda selects BVNK to enable stablecoin payments for its customers across the UK and EU

BVNK, the global B2B payments platform and Noda, the open banking payments provider, today announced a partnership to bring stablecoin settlements to Noda customers across the UK and Europe. Noda enables businesses in ecommerce, travel, gaming, and financial services to accept direct bank payments online via open banking, as an alternative to card payments. They also work with regulated fintech partners to provide other payment services, including collections, reconciliation and payouts. Noda enables businesses in ecommerce, travel, gaming, and financial services to accept direct bank payments online via open banking, as an alternative to card payments. They also work with regulated fintech partners to provide other payment services, including collections, reconciliation and payouts. In 2022, Noda began to get more and more requests from clients for stablecoin settlements due to faster settlement times. Today, stablecoins account for 10% of all cryptocurrencies. While industry volatility in 2022 saw the stablecoin market contract, today volumes are almost back at their 2022 peak. Around $30 billion in trades are made every day using stablecoins, with on- chain settlement reaching more than $7 trillion in 2022, surpassing the volumes of major card networks. To meet customer demand, Noda needed a regulated partner that could provide a multi- currency account and enable digital asset payments. Noda selected BVNK and now uses BVNK’s Virtual Accounts and Global Settlement Network to convert 2 million euros into USDT stablecoins every month, to pay out to merchants. Noda has moved 90% of its stablecoin settlements to BVNK’s global payments platform. Noda’s Chief Operations Officer, Anastasija Tenca, commented: “Increasingly our customers want access to faster settlement and stablecoins provide that. BVNK has the API technology and easy-to-use product interface we were looking for, they provide us with the right rates, and they understand our needs when it comes to enabling innovative new payment flows. We can now offer our customers the stablecoin services they have been asking for, and for us the process is much simpler and more efficient than previous solutions we have tried.” Jane McEvoy, VP Platform Partnerships, BVNK said: “We’re delighted to work with Noda to offer new payment options to their customers. We’re seeing more and more demand for stablecoin payments, particularly for cross-border payments, because they can be settled instantly, and often at a lower cost than traditional bank payments.”BVNK, the global B2B payments platform and Noda, the open banking payments provider, today announced a partnership to bring stablecoin settlements to Noda customers across the UK and Europe. Noda enables businesses in ecommerce, travel, gaming, and financial services to accept direct bank payments online via open banking, as an alternative to card payments. They also work with regulated fintech partners to provide other payment services, including collections, reconciliation and payouts.