$EOS
*Toronto, Canada** — Blockchain innovator **Vaulta** (rebranded from EOS Network) has announced a strategic collaboration with Canadian cryptocurrency exchange **VirgoCX** to launch **VirgoPay**, a cutting-edge stablecoin-powered remittance network. This initiative marks the first major deployment of Vaulta’s Web3 Banking OS, aiming to transform global financial infrastructure.
### Key Highlights:
- **Stablecoin Efficiency**: VirgoPay will leverage Vaulta’s blockchain as its primary settlement layer, slashing the cost and time of cross-border transactions by replacing legacy banking systems with stablecoins.
- **Global Accessibility**: Users can send funds via local payment methods or crypto wallets, with recipients receiving payouts in their preferred fiat currency.
- **Launch Timeline**: The service is slated to go live in **May 2024**, targeting regions underserved by traditional banking.
### Addressing a $700B Market
Cross-border payments, a sector valued at over $700 billion annually, have long been plagued by high fees, slow processing, and reliance on outdated infrastructure. *“Many regions lack access to essential financial systems, leaving millions excluded,”* stated a Vaulta spokesperson. *“VirgoPay bridges this gap by democratizing secure, near-instant transactions.”*
### Why It Matters
- **Rebranding Momentum**: The shift from EOS Network to Vaulta follows a 25% surge in EOS token prices, reflecting market optimism about its Web3 banking vision.
- **User-Centric Design**: VirgoPay supports multi-currency transactions, allowing seamless conversions between fiat and stablecoins like USDC or USDT.
### Looking Ahead
This partnership underscores Vaulta’s ambition to position itself as a leader in decentralized finance (DeFi) infrastructure, while VirgoCX expands its footprint in North America’s crypto economy. By integrating blockchain agility with real-world usability, the duo aims to set a new standard for global financial inclusion.
**Tags**: #Blockchain #Stablecoins #CryptoNews #Web3 #Fintech #Vaulta
