Paysend launches a new revolutionary solution for global payments, leveraging the transparency of blockchain technology and a well-established global network. The new stablecoin was built directly on the Stellar network and will provide a consistent store of value that users can hold, or seamlessly trade and transact with in real time.
The UK based global fintech company, a leader in the development of breakthrough financial products for cross border transactions developed Pays XDR: a stablecoin backed 100% by basket of top five world currencies (U.S Dollar, Euro, Japanese Yen, Chinese Yuan and British Pound).
Ronald Millar, CEO at Paysend commented: “Fully audited and already integrated into existing financial networks such as the Paysend Global Network, Pays XDR is simply the most stable global currency, allowing customers to pay, hold, exchange and spend both online and offline anywhere in the world”.
Pays XDR is a trustworthy and straightforward way to make international payments without running the risk of sudden drops in value due to any currency volatility. A combination of a stable, digital currency unit that represents value, run by established global payments company, Pays XDR can be used to make real-life transactions internationally by Millions of existing customers.
The benefits of Pays XDR is that is instantly redeemable, open and transparent. As such, Pays XDR can provide the missing element to transform the existing global payments system into a sustainable solution for the world, today and in the future.
Tom Zschach, an Advisory Board member of Paysend and CIO at CLS - the world leading provider of FX settlement services – said: "Stablecoins are another mega trend that have the potential to disrupt the retail payment industry. By combining an innovative solution for transfer time (instant), cost (free) and stability (fully collateralized basket of currencies), Pays XDR is paving the way for wider acceptance and adoption of programmable money."
Pays XDR can be used like any other currency for mainstream commerce, with just the use of a smartphone and a digital wallet. Customers can manage their spending by sending Pays XDR to their Paysend Global Account card when they need it, and use it to make purchases. Merchants can accept Pays XDR just as they accept PayPal, or a Visa card.
Paysend offers a new solution for global payments, leveraging the transparency of blockchain technology, with a proven track record in international payments and a well-established merchant network.