Fintech startup Six Clovers launched the Versal Network on the Sui blockchain. The network is designed to facilitate faster, more cost-effective and secure cross-border payments. The Block.
The company was founded in 2021 by people from PayPal. It has attracted venture capital investments from Borderless Capital, BCW Group and Grupo Supervielle.
According to the statement, Six Clovers API allows enterprises to integrate the Versal Network into their technology stacks to enable real-time stablecoin and CBDC transactions.
The project aims to bridge the gap between established Web 2.0 and Web3 commerce by “abstracting the blockchain and making the infrastructure invisible to customers,” said Jim Nguyen, co-founder and CEO of Six Clovers.
Versal Network is considered as an alternative to SWIFT payment channels based on more modern technologies. The network operates around the clock, eliminating intermediaries, speeding up settlements, maintaining regulatory compliance and transaction confidentiality.
The first-level blockchain Sui Network was developed by Mysten Labs, a startup founded by ex-engineers of the Meta cryptocurrency project. The launch of the main network took place on May 3. The testnet has been operating since November 2022.
“Sui offers infinite scalability that is ideal for the next generation Web3 payment network. The toolkit created by Six Clovers allows any enterprise to seamlessly integrate blockchain-based payments into their enterprise applications,” said Greg Siorunis, managing director of the Sui Foundation.
Recall that in May, the Mysten Labs team announced a collaboration with many development companies to launch Web3 games on the blockchain. In June, the project became a partner of the Red Bull Formula 1 team with an eye on gaming initiatives.
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Fintech startup Six Clovers launched the Versal Network on the Sui blockchain. The network is designed to facilitate faster, more cost-effective and secure cross-border payments. The Block.
The company was founded in 2021 by people from PayPal. It has attracted venture capital investments from Borderless Capital, BCW Group and Grupo Supervielle.
According to the statement, Six Clovers API allows enterprises to integrate the Versal Network into their technology stacks to enable real-time stablecoin and CBDC transactions.
The project aims to bridge the gap between established Web 2.0 and Web3 commerce by “abstracting the blockchain and making the infrastructure invisible to customers,” said Jim Nguyen, co-founder and CEO of Six Clovers.
Versal Network is considered as an alternative to SWIFT payment channels based on more modern technologies. The network operates around the clock, eliminating intermediaries, speeding up settlements, maintaining regulatory compliance and transaction confidentiality.
The first-level blockchain Sui Network was developed by Mysten Labs, a startup founded by ex-engineers of the Meta cryptocurrency project. The launch of the main network took place on May 3. The testnet has been operating since November 2022.
“Sui offers infinite scalability that is ideal for the next generation Web3 payment network. The toolkit created by Six Clovers allows any enterprise to seamlessly integrate blockchain-based payments into their enterprise applications,” said Greg Siorunis, managing director of the Sui Foundation.
Recall that in May, the Mysten Labs team announced a collaboration with many development companies to launch Web3 games on the blockchain. In June, the project became a partner of the Red Bull Formula 1 team with an eye on gaming initiatives.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!