Better Payment Network (BPN), a payment network based on the BNB Chain, has announced the raising of $50 million in a seed funding round led by YZi Labs (formerly Binance Labs).
This is reported by Finway
Instant International Transfers via Stablecoins
BPN specializes in providing fast and regulated transfers of stablecoins across different jurisdictions with minimal fees. The network operates on a hybrid CeDeFi architecture that combines the advantages of centralized and decentralized solutions. The service already supports popular regional stablecoins, including BBRL (Brazilian Real), cNGN (Nigerian Naira), MEXAS (Mexican Peso), and EURI (Euro).
“The network supports instant transfers between jurisdictions. The service is already working with regional stablecoins such as BBRL (Brazilian Real), cNGN (Nigerian Naira), MEXAS (Mexican Peso), and EURI (Euro).”
The platform reduces settlement times from 1-2 days to 3-4 hours. The average transfer fee is 0.3%, significantly lower than the rates of traditional banking channels.
Development of the DeFi Segment and New Opportunities
By the end of the current year, the BPN team plans to launch a DeFi segment—a blockchain-based marketplace for exchanging stablecoins without the need for identity verification. The platform is expected to support up to 20 different assets from countries in Latin America, Africa, and Asia.
The funds raised will also be directed towards creating liquidity pools for on-chain stablecoin exchanges and attracting market makers. Through these initiatives, the company aims to ensure fair exchange rates and price stability through arbitrage and balancing.
BPN continues to actively develop, focusing on expanding the platform’s functionality and enhancing the convenience of conducting international financial transactions.