#Vaulta and VirgoCX have collaborated to launch VirgoPay, a stablecoin-based cross-border payment network. The initiative aims to simplify international payments by leveraging blockchain technology and stablecoins.

Vaulta, formerly known as Yuzu Network, is partnering with VirgoCX to launch a new stablecoin-driven cross-border payment network, marking the first major deployment of its Web3 banking operating system.

Vaulta, a blockchain ecosystem recently rebranded from Yuzu Network, has formed a strategic partnership with Canadian cryptocurrency exchange VirgoCX to launch a new stablecoin-driven remittance network called VirgoPay.

According to a press release shared with crypto.news, the newly co-founded enterprise will use Vaulta's blockchain as the default transaction and settlement layer. The service is expected to go live in May, aiming to reduce the cost and time of international payments by using stablecoins instead of traditional banking channels. $EOS