Independent Reserve Expands Cross-Border Payments in Singapore
Independent Reserve, a digital asset platform, has launched a new service in Singapore that enables businesses to make cross-border payments using both fiat currencies and stablecoins. The service is integrated into the company’s existing infrastructure and supports over 20 currencies, including major G10 and ASEAN currencies. Businesses can fund their accounts in Singapore or US dollars and send payments in real time to bank accounts, e-wallets, or cards.
The platform also allows companies to accept customer payments in stablecoins like USDC and USDT directly into their Independent Reserve accounts. An API integration enables businesses to automate transactions and track payments in real time, facilitating reconciliation.
Lasanka Perera, CEO of Independent Reserve Singapore, highlighted the efficiency of stablecoins in cross-border payments, stating that they allow businesses to settle transactions 24/7 and move capital more efficiently. The service aims to reduce intermediaries, currency conversions, and processing delays commonly associated with international transfers, ensuring same-day settlement regardless of the number of countries involved.