Latest news with #ChrisHarmse
Yahoo
25-06-2025
- Business
- Yahoo
dLocal and BVNK collaborate to enable stablecoin-based global payouts
Cross-border payment platform dLocal and stablecoin payments infrastructure provider BVNK have partnered to facilitate stablecoin-based payouts globally. The collaboration will facilitate money movement across over 40 markets. Under the agreement, BVNK will supply dLocal with stablecoin payment rails to support quicker settlements for dLocal's global merchant base. In return, dLocal will provide BVNK access to its Layer1 platform's fiat payout rails, expanding BVNK's presence in emerging markets across Africa, Asia, and Latin America. This will enable customers to use stablecoins for cross-border payments, with funds delivered to recipients in local currencies, according to dLocal. dLocal CRO John O'Brien said: 'dLocal is constantly exploring ways to expand access and improve settlement times for our clients. 'By integrating BVNK's stablecoin capabilities, we can offer even faster, borderless payments - without compromising compliance or control.' The partnership builds on a relationship established in 2016, when dLocal began using stablecoin-based payments as one of the first global payment service providers. The collaboration connects blockchain-based value transfer with regulated fiat settlement systems across more than 40 markets. BVNK co-founder Chris Harmse said: 'With Layer1, we're building a programmable payments network that connects stablecoins with trusted local payout rails. 'By integrating leading providers like dLocal, we're unlocking seamless, compliant value transfer into some of the most complex markets in the world.' dLocal specialises in local payments in emerging markets, connecting global merchants with consumers in regions including APAC, the Middle East, Latin America, and Africa. BVNK provides stablecoin infrastructure for global financial services, holding licences in key jurisdictions and partnering with Tier 1 banks to process transactions for clients such as Worldpay, Deel, and dLocal. "dLocal and BVNK collaborate to enable stablecoin-based global payouts" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
24-06-2025
- Business
- Finextra
DLocal partners BVNK for stablecoin payouts
DLocal (NASDAQ: DLO), the leading cross-border payment platform specializing in emerging markets and BVNK, the stablecoin payments infrastructure provider for global enterprises and PSPs, today announced a strategic partnership that enables faster, programmable, and more cost-effective money movement across 40+ markets. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Through the dual partnership: ● BVNK will provide stablecoin payment rails to dLocal, allowing them to offer faster settlements to their global merchant base. ● dLocal will offer BVNK access to fiat payout rails via its Layer1 platform, expanding BVNK's emerging markets coverage in Africa, Asia and Latin America. Customers will be able to fund cross-border payments using stablecoins and have them delivered to recipients in local currencies - seamlessly, and at scale. 'dLocal is constantly exploring ways to expand access and improve settlement times for our clients,' said John O'Brien, CRO at dLocal. By integrating BVNK's stablecoin capabilities, we can offer even faster, borderless payments - without compromising compliance or control. 'With Layer1, we're building a programmable payments network that connects stablecoins with trusted local payout rails,' said Chris Harmse, Co-founder at BVNK. 'By integrating leading providers like dLocal, we're unlocking seamless, compliant value transfer into some of the most complex markets in the world.' A proven model for stablecoin-enabled payments The announcement builds on a relationship first established in 2022, when dLocal became one of the first global PSPs to implement stablecoin-based payments. What started as a treasury use case has since evolved into a broader model for merchant funding and global payouts. Together, the companies are building a new layer of financial interoperability - connecting blockchain-native value transfer with regulated, fiat-based local settlement rails across 40+ markets.
The Star
05-06-2025
- Business
- The Star
Equities surged in May while the Rand stabilised
Chris Harmse | Published 3 days ago The JSE had a bumper month and year-to-date. Given all the growing uncertainties on the global and domestic geo-political front, investors and the public expected the worst for the share and foreign exchange markets during the month of May. Given the Trump administration's chop-and-change announcements in the trade war between the US and other countries, like China, Canada, and European countries, as well as the jittery South Africa/US relations, it was expected by many members of the public that the economy and financial markets would go from better to worse. Table 1: Various share indices performances since the beginning of 2015 Index 1 month 3 months Year-to-date JSE ALSI 3.4% 10.2% 12.1% JSE Top40 3.4% 10.8% 14.4% JSE Financial15 4.3% 8.7% 16.0% JSE Industrial 25 4.2% 8.7% 16.0% JSE Res 10 3.1% 21.1% 31.3% Dow S&P500 5.5% -0.13% -0.14% UK FTSE 3.3% -0.04% 7.3% MSCI Europe 3.8% 7.0% 18.3% Hang Seng 5.3% 1.7% 16.10% In contrast, share prices on the JSE reached record high levels and their best annual five months since the 2020 Covid-Virus equity downward streak, and all the main indices recorded growth of above 10% since the beginning of the year. Prospects for share and capital markets Despite the national budget woes, US trade tariff threats, the lack of domestic service delivery, and a deterioration of transport infrastructure and export facilities, signs of an economic recovery in South Africa boost capital and equity markets. The cut in the repo rate by the Monetary Policy Committee , nine consecutive months where the inflation rate remained less than the Reserve Bank's midpoint target of 4.5%, and expectations of an inflation rate remaining around the 3.0% proposed new target range, boosted domestic and global investment confidence. The expected further cut in fuel prices in June, despite the hike in the fuel levy by the Treasury, the possible extension of the Agoa agreement, and lower proposed US tariffs against South Africa, increase domestic and foreign investment appetite on the South African share and capital markets. The rand against the dollar stabilises and gives reason for a rate cut. On the foreign exchange market, the rand improved in May to its strongest level against the major currencies for 2025. Against the dollar, the rand improved over the month of May by 3.1% or 50 cents from R18.59 to R17.99 on Friday. Against pound sterling, the currency appreciated by 2.5% or 57cents to R24.21/£ and against the Euro, stronger by 3.0% or 64c to R20.24/€. The stronger rand also contributes to a surge in financial, retail, and property shares on the JSE with the capital market returns also higher. The Trump administration's latest tariff surge threatens. US President Trump doubled tariffs on steel imports on Friday from 25% to 50% and announced: 'Nobody is going to get around that,' as he also introduced 50% tariffs on imported aluminum. This 'new' tariffs surge will be introduced on June 4. This latest tariff craze put global equity markets and currencies under pressure. The Euro Stoxx 50 index lost 1.07% last week, and the Hang Seng index in Hong Kong traded 1.2% lower on Friday and tumbled by 1.4% over the week. Prospects for this coming week This coming week, domestic and foreign investors await the release of US non-farm payrolls for May 2025, which will be released on Friday. The market expects 140 000 new jobs, and the unemployment rate to remain at 4.2%. These two indicators will give an indication of prospects for a bank rate cut by the Federal Reserve at their next interest rate meeting later this month. Domestically, the new vehicle sales for May will be released today. Elsewhere, the ECB will make its interest rate decision on Thursday. Chris Harmse is the consulting economist of Sequoia Capital Management and a senior lecturer at Stadio Higher Education. BUSINESS REPORT
