Innovative Cross-Border Payment Solutions by Sling Money

Sling Money is revolutionizing cross-border payments with its introduction of US and European Virtual Accounts. These accounts integrate traditional payment methods with tokenization, opening up a new era of accessibility and efficiency.

With these virtual accounts, users can receive payments in their local currency from various locations worldwide, surpassing the limitations of simple peer-to-peer transactions. Designed to operate similarly to Venmo, Sling Money allows users to route payments into U.S. account information or European International Bank Account Numbers (IBANs), enabling direct receipt of funds into their Sling Wallet.

Sling Money has seamlessly combined local banking systems like ACH and stablecoins into a single application,” commented Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research. This integration significantly reduces the friction in cross-border payments.”

A Gateway to Global Payments with Bridge Technology

A significant milestone for Sling Money came in February when Stripe acquired Bridge, a regulated financial infrastructure provider that converts incoming payments into stablecoins—such as the Pax Dollar or Euro Coin. These stablecoins are then transferred to users’ wallets within the app.

The Role of Stablecoins in Cross-Border Payments

Stablecoins have gained prominence in cross-border transactions, with the Bank for International Settlements reporting that bitcoin, ether, and other leading stablecoins facilitated approximately $600 billion in such transactions during Q2 2024.

Why Stablecoins Matter for Sling Money

This trend underscores the growing validity of stablecoins as a viable payment option. By enabling regulated crypto payments through Bridge, Sling Money is ahead of many competitors in this space.

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