24. February 2024

• Six Clovers is launching a new Web3 cross-border crypto payment system called the “Versal Network” on Sui blockchain.
• The network enables companies to transact in stablecoins and CBDCs.
• The Versal Network programming hooks (API) give businesses the opportunity to integrate the network into their existing e-commerce systems.

Six Clovers Launches Cross-Border Crypto Payments

Digital payment company Six Clovers has announced the launch of its Web3 cross-border crypto payment system, Versal Network, on the Sui blockchain. With this, companies can now transact in stablecoins and central bank digital currencies (CBDCs).

Benefits of Versal Network

Versal Network provides businesses with an API that allows them to integrate the network into existing e-commerce systems. This will enable businesses to utilize blockchain technology without having to worry about technical complexities associated with it. Moreover, this will also help bridge the gap between established e-commerce and Web3 commerce by making infrastructure invisible to customers.

Reaction of Co-founder & CEO

Jim Nguyen, co-founder and CEO of San Francisco based Six Clovers said “Our vision of unlocking the power of on-chain digital assets for the next billion users is being made possible on Sui” as he expressed his delight at launching Versal Network on Sui Blockchain.

Recent Developments in Cross Border Payments

Recently Bank for International Settlements and International Monetary Fund have tested cross border payments using Central Bank Digital Currencies (CBDCs). Similarly digital payments firm Strike recently expanded Lightning Network payments service to Mexico as well.

Conclusion

With this launch, Six Clovers has enabled companies to make use of blockchain technology while eliminating technical complexity associated with it thus bridging gap between eCommerce & Web3 commerce easily for customers.