Independent Reserve has expanded its services in Singapore to allow businesses to make cross-border payments using fiat currencies or stablecoins.

Integrated into the digital asset platform’s existing infrastructure, the service allows companies to pay overseas suppliers, process international payroll and transfer funds between corporate entities.

Businesses can fund their Independent Reserve accounts in Singapore dollars or US dollars before sending payments in local currencies.

The service supports more than 20 currencies, including most G10 currencies and several ASEAN currencies.

Funds can be sent in real time to bank accounts, e-wallets or cards.

Companies can also accept customer payments in stablecoins such as USDC and USDT directly into their Independent Reserve accounts.

An API integration allows businesses to connect their existing systems, automate transactions and track payments in real time to support reconciliation.

“Stablecoins have found clear product-market fit in cross-border payments. They allow businesses to settle transactions around the clock and rotate capital across markets more efficiently,”

“We hear that demand firsthand from our clients in Singapore, many of whom trade internationally. Our new payments service gives clients a faster, smoother way to transact and settle using digital assets, with the confidence of working with a regulated provider they already know and trust.”

Independent Reserve said the service connects digital asset settlement with local payment rails to reduce the intermediaries, currency conversions and processing delays commonly associated with international transfers.

The company said all payments will settle on the same day, regardless of the number of countries involved.

Featured image credit: Edited by Fintech News Singapore, based on image by geargodz via Magnific

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