Cross Border Payments
An overview of how EURC delivers cross border payments.
Cross Border Payments (CBP) will be launched in the Q1 of 2023. Users will be able to start making cross border payments. Liquidity providers will have the ability to buy EURC and participate in a liquidity pool.
Sender funds the transaction by obtaining EURC as described in the EURC Tokenomics.
Sender selects the recipient's currency from the list of supported currencies in the mobile app.
EURC is converted over the Stellar blockchain network into the recipient's local currency.
The conversion occurs through a network of locally licensed and regulated anchors on the Stellar blockchain network. In addition both the sender and recipient are verified.
The funds are almost instantly available for the recipient in the destination country and can be transmitted to either the recipient’s wallet, bank account, or another local payment method.