Payments

Vottun intros digital currency cross-order payments solution on Spanish regulatory sandbox

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October 8, 2021

Vottun, a blockchain startup, recently announced its intra-company cross-border payments solution using digital currencies from the Stellar Development Foundation. The company will showcase the solution on the Spanish Regulatory Sandbox, a tool developed by the Central Bank of Spain, the Monetary Authority of Spain and the Directorate General for Insurance and Pension Funds, according to a press release.

In particular, Vottun will integrate the payments platform onto Stellar, which will tokenize the payments using digital currencies as well as execute and settle the payments. The tool will initially run on the Sandbox for six months.

"We are very proud and humbled to work with the Bank of Spain and all the Spanish regulatory agencies involved in testing our platform for cross-border transactions," Luis Carbajo, CEO of Vottun, said in the release. "We see blockchain, and our integration with Stellar specifically, as a strategic next step for our business, offering us the ability to provide cheaper, faster and fully compliant payments for our customers. Vottun looks forward to working with central banks and financial institutions in their transition into the digital economy."