Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Developer Six Clovers Rolls Out Cross-Border Crypto Payments on Sui

Developer Six Clovers Rolls Out Cross-Border Crypto Payments on Sui

CoindeskCoindesk2023/06/29 20:51
By:Oliver Knight

The Versal Network will allow companies to transact in stablecoins and central bank digital currencies.

Six Clovers, a developer of crypto payments systems, has released Versal Network on the Sui blockchain to provide companies with a service that can facilitate cross-border transactions, according to a press release.

The network joins Transak, which allows people to buy the blockchain's SUI token with fiat money, and Halliday HQ on Sui, a layer 1 blockchain founded by ex-Meta Platforms (META) employees and valued at $2 billion in a September funding round. Sui in May and hit a peak of 1,007 transactions per second (tps) over the past 30 days, according to .

Cross-border payments using cryptocurrency has been a hot topic of late, and the and the have both tested cross-border transactions of central bank digital currencies (CBDCs) in the past year. Digital payments firm Strike, meanwhile, recently service to Mexico.

"Our vision of unlocking the power of on-chain digital assets for the next billion users is being made possible on Sui," said Jim Nguyen, co-founder and CEO of San Francisco-based Six Clovers. "The way to do this is to close the gap between established e-commerce and Web3 commerce, by abstracting the blockchain and making the infrastructure invisible to customers."

The Versal Network programming hooks (API) give businesses the opportunity to integrate the network into their existing technology stacks, allowing them to transact in stablecoins and central bank digital currencies (CBDCs).

Total value locked (TVL) on the Sui Network remains low at around $11.8 million, according to . In comparison, Optimism, another layer 1 blockchain, has $795 million.

See also:

Edited by Sheldon Reback.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

July 2024: Optimizing Balanced Through New Development

In July, ICON advanced its integration efforts and optimized system performance. Key achievements including completion of audits for Stellar, and contracts for Solana. Looking ahead to August we anticipate the deployment of Sui contracts to mainnet.|

Icon Foundation Blog2024/08/06 11:15
July 2024: Optimizing Balanced Through New Development