YouSend Goes Live in UK and Canada, Using Stablecoin Settlement to Rewire the African Remittance Corridor
YouSend launches in the UK and Canada, leveraging stablecoin technology to enhance speed and efficiency in African remittance corridors.Summary
YouSend, a cross-border remittance platform, has launched in the United Kingdom and Canada, utilizing stablecoin settlement to address inefficiencies in traditional remittance systems. The app, licensed by the UK Financial Conduct Authority, FINTRAC, and the Central Bank of Nigeria, processes transfers to Nigeria, Ghana, Kenya, and Tanzania, with 95% of transactions completed in under two minutes. Backed by investors like CMT Ventures and CoinSwitch Ventures, YouSend emphasizes regulatory compliance, speed, and customer support. The platform aims to expand into the EU and US, positioning stablecoins as a solution to the slow and costly nature of conventional remittance corridors. The company processed over $1 million in transfers pre-launch through word-of-mouth, highlighting its focus on trust and reliability.
(Sourceļ¼Nairametrics)