SAP opens testnet registration for cross border payments in stablecoins
USDC is available on 9 blockchains including Algorand, Solana and TRON, schrader We have confirmed that the preview phase will only use Ethereum. EUROC has much less token circulation than USDC. Available on Ethereum and Avalanche.
the current Circulation USDC and EUROC total $28.2 billion, €47.9 million ($52.3 million) each.
Product Expert at SAP, Sissy Luthesaid cross-border payments are difficult for businesses of all sizes. Expensive, up to $50, and can take up to seven days to settle, “you never know the status of a transaction,” she said.
Using digital money via blockchain technology could potentially solve all these problems. Ruthe added that using USDC or EUROC instead of traditional banking networks to settle payments takes minutes.
“Technically, each business partner needs a wallet, which is equivalent to a bank account in the blockchain world. These wallets can be self-custody, allowing cross-border payments without intermediaries. It will be possible.”
During the “test drive”, SAP will run a testnet consisting of test USDC for participants to experience the process of stablecoin payments and “how easy cross-border payments with digital money will be in the future” To do.
