{"id":127905,"date":"2025-04-24T21:17:32","date_gmt":"2025-04-24T21:17:32","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127905"},"modified":"2025-04-24T21:17:32","modified_gmt":"2025-04-24T21:17:32","slug":"avalanche-powered-axiym-bets-on-money-services-businesses","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127905","title":{"rendered":"Avalanche-powered Axiym bets on money services businesses"},"content":{"rendered":"

Source: Cointelegraph.com NewsGlobal cross-border payment platform Axiym is targeting the rising demand from money services businesses (MSBs) for blockchain-based infrastructure and stablecoin solutions for international transactions, the company told Cointelegraph.
\nHeadquartered in Dubai, United Arab Emirates, Axiym disclosed on April 24 that it has processed more than $132 million in cumulative volume on the Avalanche blockchain.
\nThe platform uses Avalanche to deliver real-time credit and liquidity infrastructure to MSBs worldwide.
\nSource: AvalancheMSBs \u2014 a broad category that includes money transmitters like Western Union, currency exchanges, crypto platforms, fintech firms, and check cashers \u2014 are embracing these innovations, Morgan Krupetsky, head of institutions and capital markets at Ava Labs, told Cointelegraph.
\nIn the case of Axiym, \u201cMSBs themselves don\u2019t operate onchain,\u201d Axiym CEO Khibar Russel told Cointelegraph. Instead, \u201cAxiym connects their existing payment operations to Avalanche behind the scenes using blockchain to automate, move, and manage capital far more efficiently.\u201d\u00a0
\n\u201cUnder the hood, Axiym has built an application that provides credit to global MSBs using stablecoins to power payments \u2014 these transactions occur on the Avalanche C-Chain,\u201d Krupetsky said, adding:
\n\u201cThis enables real-time cross-border liquidity provisioning that would be difficult or expensive through legacy payment rails or slower blockchains.\u201d
\nRelated: Luxury app Dorsia taps MoonPay for crypto payments
\nThe case for cross-border payments continues to grow
\nRussel told Cointelegraph that Axiym\u2019s clients are primarily licensed payment companies based in major financial centers like the UAE, the United Kingdom and Singapore. However, these companies\u2019 users often send funds to major remittance hubs across Asia, Africa and Latin America, he said.
\nAxiym\u2019s platform has been developed to address many of the pain points in traditional cross-border payments, including \u201ccapital inefficiency, SWIFT-based delays, high costs and fragmented frameworks,\u201d Russel said.
\nWhile blockchain offers significant advantages in speed and transparency, regulatory fragmentation has made it harder for the technology to replace legacy payment systems.\u00a0
\nAxiym is attempting to solve this problem by \u201cembedding blockchain capabilities directly into existing payment operations\u201d using Avalanche, Russel said.
\nBlockchain-based stablecoins have become a key tool for enabling low-cost, efficient cross-border payments, which explains why these fiat-pegged assets have gained traction in emerging markets.
\nA 2024 Chainalysis report showed that stablecoin remittances from Sub-Saharan Africa are 60% cheaper than traditional fiat rails.\u00a0
\nThe power of blockchain technology: An average $200 remittance from Sub-Saharan Africa is 60% cheaper using stablecoins than fiat. Source: Chainalysis\u00a0As Cointelegraph recently reported, blockchain company Ripple has partnered with African payment infrastructure provider Chipper Cash to support cross-border crypto transactions.
\nMeanwhile, crypto-focused payment startups are also gaining traction in venture capital circles, with the Tether-backed Mansa recently closing a $10 million funding round to expand its stablecoin cross-border payment services.
\nMagazine: Altcoin season to hit in Q2? Mantra\u2019s plan to win trust: Hodler\u2019s Digest, April 13 \u2013 19Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsGlobal cross-border payment platform Axiym is targeting the rising demand from money services businesses (MSBs) for blockchain-based infrastructure and stablecoin solutions for international transactions, the company told Cointelegraph.… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127905"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127905"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127905\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127905"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}