A US-based fintech startup now claims to settle cross-border payments in just 5 seconds using stablecoins. Mesta aims to leverage an API-based system to provide faster and low-cost cross-border transactions.
Targeting fintech platforms and enterprise clients, the company is out to address the problems of slow, expensive, and fragmented services associated with cross-border payments.
Speaking in an interview with TheStreet Roundtable, Sandeep Pyapali, Mesta’s head of payments, said:
“Mesta is a global fiat plus stablecoin payment network. We’re focused on making international money movement faster and more cost-effective.”
According to Pyapali, the company offers significantly lower transaction fees while providing faster settlement times, with some transactions cleared in as fast as five seconds. Mesta achieves this by allowing platforms to send payments with stablecoins such as USDT or USDC, which are then converted to local fiat currencies for delivery.
This development comes hot on the heels of the widespread popularity of stablecoins, after the US Senate recently passed a bill in their favor. If…
