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Stablecoin Remittance App VirgoPay to Launch Soon with Vaulta

Published

5 days ago

April 5, 2025

Stabecoin Remittances:- In an exciting development for the growing adoption of stablecoins, VirgoPay, a subsidiary of VirgoCX Global Holdings, has announced a strategic partnership with Vaulta, formerly known as EOS.

To enhance its stablecoin-based remittance services, both of the Canada-based Web3 firms are set to launch VirgoPay, a stabelcoin- supported remittance application.

Cross-border payments have historically been slow, expensive, and often inaccessible, particularly in regions lacking stable banking infrastructure. The to-be-launched VirgoPay intends to tackle these issues by leveraging stablecoins to provide faster, more affordable, and secure financial solutions.

VirgoPay – the stablecoin based remittance network

Scheduled for the launch in May 2025, VirgoPay aims to simplify the process of sending funds or money particularly in the form of remittances, across borders by global users.

VirgoPay will allow users to add funds using any traditional local payment methods such as bank transfers, e-transfers, and card processing, or directly from a cryptocurrency wallet.

They can select then their preferred currency and track the status of their payments in real-time post-transaction. On the other end, recipients will have access to the funds in their chosen currency upon completion of the transaction.

And by integrating Vaulta’s high-throughput blockchain infrastructure – which will serve as the default transaction and settlement layer for VirgoPay – it aims to settle these payments in seconds rather than days.

Virgo expects to process more than 2 billion Canadian dollars through its over-the-counter (OTC) platform by 2025.

Notably, EOS blockchain network’s digital coin had been struggling for 7 years – losing more than 100% of its value from ATH. However, it has witnessed a considerable surge after EOS rebranded to Vaulta on March 19 this year.

Remittance as the Evolving Usecase of Stablecoin

Stablecoins are increasingly utilized for cross-border payments and remittances due to their efficiency and cost-effectiveness.

They help users in eliminating up to 70% of the fees typically associated with traditional remittance services. As per the World Bank data of 2023, transaction fees by stablecoins are often less than 1%, compared to the global average remittance fee of 6.2%.

According to Coinbase report published in August 2024 – Stablecoins and the New Payments Landscape – there was $10.8 trillion worth of transactions settled via stablecoins in 2023. Among this, c. $2.3 trillion stemmed from “organic activities”—a category that includes cross-border payments, person-to-person remittances, and merchant transactions.

However, the report highlights that stablecoins transactions are still dominantly used for Business and consumer payments vis-a-vis direct usercase of global remittances.

Initial Rollout in Key Markets

As per the Press Release, the initial rollout will focus on key global corridors, including the United States, Hong Kong, Canada, Argentina, Brazil, and Australia. A subsequent phase will then expand into additional markets across South America and the Middle East. This is going to highly benefit the remittance industry which is projected to exceed $1 trillion in volume by 2029.

The VirgoPay launch is scheduled for May 2025, subject to final confirmation.

Nonetheless, the launch exemplifies the potential of combining stablecoin technology with advanced blockchain infrastructure to create efficient, accessible, and cost-effective financial solutions on a global scale.

Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Apex Fusion Launches Prime Chain to transform Decentralized Staking and Interoperability

Published

2 months ago

February 21, 2025

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Apex Fusion, a cutting-edge Web3 project aiming to unify blockchain ecosystems, has officially launched Prime Chain, its foundational Layer 1 blockchain. With a mission to bridge the gap between UTXO-based and account-based systems, Apex Fusion’s Prime Chain marks a significant milestone in the evolution of blockchain interoperability and scalability.

A New Era for Blockchain Integration?

The launch of Prime Chain introduces a robust infrastructure designed to facilitate seamless cross-chain transactions and interoperability. Apex Fusion’s architecture integrates three core components—Prime Chain, Vector Chain, and Nexus Chain—each serving a distinct function within the ecosystem. Prime Chain, built on the Ouroboros proof-of-stake (PoS) consensus mechanism, acts as the backbone of this innovative network, providing security, scalability, and decentralization.

“Blockchain technology has long suffered from fragmentation, making it difficult for different systems to communicate efficiently,” said Alex Navarro, CEO of Apex Fusion. “Prime Chain is the first step in solving this problem, offering a platform that unifies multiple blockchain models into a single, interoperable system.”

We’re excited to announce that the AP3X token will be listed on @LBank_Exchange on February 20th at 10 AM UTC! This is an important step for the Apex Fusion ecosystem, and we can’t wait for you to be part of it.
More details about trading, deposits, and withdrawals will be… pic.twitter.com/NQQpPhXKiz
— Apex Fusion (@ApexFusion) February 14, 2025

What are the key Features of Prime Chain

Prime Chain is designed to be a high-performance, scalable blockchain capable of supporting smart contracts and decentralized applications (dApps). Some of its notable features include:

Ouroboros PoS Consensus: Ensuring security and energy efficiency while maintaining decentralization.
Native Staking with AP3X Token: Holders of Apex Fusion’s native token, AP3X, can participate in liquid staking, earning rewards while securing the network.
Cross-Chain Compatibility: Through the upcoming Reactor Bridge, Prime Chain will facilitate seamless transfers between Vector Chain (UTXO-based) and Nexus Chain (EVM-compatible), enabling users and developers to interact with multiple blockchain paradigms.
Scalability and Low Fees: Designed to support enterprise-grade applications with minimal transaction costs.

AP3X Token and Exchange Listing

As part of the launch, Apex Fusion has also introduced the AP3X token, which plays a central role in network governance, staking, and transaction processing. The token has already been listed on the LBANK exchange, allowing early adopters to trade and stake AP3X with an initial annual yield of approximately 10%.

“We are thrilled to see the strong support from our community,” said Navarro. “Our vision is to create a decentralized, interoperable Web3 ecosystem that empowers users and developers with greater flexibility and efficiency.”

The Future of Apex Fusion

Looking ahead, Apex Fusion has ambitious plans for expanding its ecosystem. The next major milestone will be the launch of the Reactor Bridge, which will enable seamless asset transfers between Prime, Vector, and Nexus Chains. Additionally, Apex Fusion aims to introduce an on-chain reputation system, rewarding users for verifiable contributions and fostering trust within the ecosystem.

With the blockchain industry continuously evolving, Apex Fusion’s launch of Prime Chain represents a significant step toward a more connected and scalable future for Web3. As the project gains traction, it has the potential to revolutionize how different blockchain networks interact, setting a new standard for interoperability in the decentralized space.

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