Latest news with #USDP
Business Wire
22-05-2025
- Business
- Business Wire
Sling Money Launches US and European Virtual Accounts in Partnership with Bridge to Expand Global Earning Power
AMSTERDAM--(BUSINESS WIRE)--Sling Money, the app making global money movement instant and low-cost, today launched US and European Virtual Accounts, marking an expansion beyond peer-to-peer transactions to enable users to receive payments for freelance, project-based, or salaried work with ease. These accounts are provisioned by Bridge, a regulated financial infrastructure provider recently acquired by Stripe for $1.1 billion. Sling Money users around the world can now access a US account and routing number or a European IBAN, meaning they can get paid like a local in both USD and EUR, directly into their Sling Wallet. USD accounts leverage ACH and wire rails, while EUR accounts operate over SEPA — including SEPA Credit and SEPA Instant — to ensure fast, reliable deposits. Bridge automatically converts incoming payments into USDP (Pax Dollar) or EURC (Euro Coin) and transfers them into the user's Sling Wallet. From there, users can choose to hold incoming payments as stablecoins within the app, withdraw them as stablecoins — including USDC, USDP, and EURC — or convert them into local currencies for a negligible fee via Sling Money's extensive network of instant payment partners. This feature unlocks a new level of utility for freelancers, remote workers, global nomads, creators, students studying abroad, and cross-border families who previously relied on slow, fee-laden intermediaries to receive international payments. With Virtual Accounts, users can now receive wages, payouts, reimbursements, or transfers natively. 'This is one of the first times a consumer wallet has made it possible for users worldwide to receive payments from the US and Europe using local account details, instantly tokenize those funds into stablecoins, and then move or spend that money globally — all within a single app,' said Mike Hudack, co-founder and CEO of Avian Labs, Sling Money's parent company. 'Sending money is only half the equation for an inclusive global financial system. Now, we're making it just as easy to get paid.' The access to both real-time, low-fee transfers and Virtual Accounts makes Sling Money a complete solution for modern global earners. For senders, paying into a Sling Money account feels just like making a regular deposit. Since its launch, Sling Money has expanded its global footprint across the U.S., Europe, Africa, and beyond, enabling users to send, receive, and convert funds in seconds using stablecoin technology and fiat integration. Recently, Sling Money also secured its Markets in Crypto Assets Regulation (MiCA) license and introduced EURC (Circle's euro-backed stablecoin), a testament to its compliance and growth in Europe. About Sling Money Sling Money is building a world where sending and receiving money is effortless. The app leverages stablecoin and real-time payment technology to allow people to move money anywhere, in any currency, nearly instantly and for a negligible fee. Sling Money makes global transfers easy by enabling users to pay people, not anonymous account numbers. It's available in 145+ countries on the Android and iOS app stores. An Avian Labs product, Sling Money was founded by Mike Hudack and Simon Amor, who have decades of product engineering and design experience. Learn more at
Yahoo
30-04-2025
- Business
- Yahoo
Mastercard Unveils End-to-End Stablecoin Capabilities, Will Launch Card With OKX
Mastercard is moving deeper into the digital asset economy by launching new global capabilities to support stablecoin payments across its vast merchant network, the company announced Monday. The payments giant is working with crypto exchange OKX to roll out the "OKX Card," aimed at linking crypto trading and Web3 activities with everyday spending. Meanwhile, merchants will soon be able to settle transactions directly in stablecoins such as Circle's USDC, thanks to collaborations with Nuvei and Circle. Paxos will help extend this functionality to other supported stablecoins like USDP. 'When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear,' Jorn Lambert, chief product officer at Mastercard, said in a statement. 'To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them. We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve,' he said. Stablecoins, which are cryptocurrencies pegged to stable assets like the U.S. dollar, have been gradually moving beyond trading venues into mainstream payments. Mastercard's initiative covers the full range of stablecoin use cases, from wallet enablement and card issuance to merchant settlement and on-chain remittances. The company has previously partnered with crypto exchanges like Kraken, Binance and to allow users to pay with stablecoins via traditional cards. Last year, it rolled out Mastercard Crypto Credential, a service designed to simplify sending digital assets across borders using verified usernames rather than complex wallet addresses. In 2023, Mastercard launched its Multi-Token Network (MTN) which is being leveraged to facilitate real-time settlements and redemptions of tokenized assets. Ondo Finance, in February, became the first provider to bring real-world assets to the network. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI in to access your portfolio
