Fintech firm Hector Financial has announced that it will partner with Singapore-based stablecoin payment company Triple A to build a stablecoin-based global payment and settlement service.
Hecto Financial signed a business cooperation memorandum of understanding (MOU) at its headquarters in Yeoksam-dong, Seoul, with the attendance of Hecto Financial CEO Choi Jong-won and Triple A CEO Eric Barbier, as well as other officials from both companies.
Triple A is a globally licensed financial institution that provides payment and settlement services utilizing stablecoins and local currencies. It operates solutions that improve the inefficiencies of existing overseas payment and settlement processes. It currently provides payment services to over 20,000 corporate clients in over 120 countries across Asia, Europe, and the Americas.
Through this agreement, the two companies will jointly review collaboration models for stablecoin-based payment and settlement structures and explore business opportunities in the global cross-border payments market. Furthermore, they plan to continue building a cooperative relationship to address the rapidly changing global payments landscape.
Through this agreement, Hecto Financial plans to internalize global payment and settlement services utilizing stablecoins and provide related services primarily to merchants with a high proportion of overseas transactions. This strategy aims to expand merchants' payment method choices and enhance payment efficiency. Triple A will leverage its global payment network and service operation experience to support the expansion of stablecoin payments and settlements.
The two companies plan to share future financial infrastructure and service operation know-how, and jointly pursue business planning and service expansion for next-generation payment and settlement methods, including stablecoins.
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