Nuvei Launches Blockchain Payment Solution for Latin America

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The landscape of digital payments in Latin America is undergoing a transformative shift, thanks to a groundbreaking move by Canadian fintech leader Nuvei. The company has officially launched a comprehensive blockchain-powered payment solution tailored specifically for merchants across the Latin American (LATAM) region. This strategic development marks a significant step forward in bridging traditional finance with emerging digital asset infrastructure.

Nuvei’s new offering, announced on December 4, enables businesses to seamlessly integrate stablecoin-based transactions into their payment ecosystems. By collaborating with key players in the blockchain and financial sectors—Rain, BitGo, and Visa—Nuvei is delivering a robust, secure, and globally accessible payment framework that empowers merchants like never before.

Strategic Partnerships Powering Innovation

At the core of Nuvei’s solution lies a network of high-impact partnerships. Rain, a vertically integrated issuing platform backed by Coinbase Ventures and Circle Ventures, plays a pivotal role in enabling card issuance tied to digital assets. BitGo brings its industry-leading crypto custody and wallet technology to ensure funds are stored securely. Meanwhile, global payments giant Visa provides the bridge between blockchain settlements and real-world spending through its vast merchant network.

This tripartite collaboration allows Nuvei to offer merchants an end-to-end solution where stablecoins such as USDC (USD Coin) can be used not only for cross-border settlements but also for everyday transactions via Visa-supported physical or virtual cards.

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The integration means that LATAM-based businesses can now receive payments in stablecoins, instantly convert them into spendable value via prepaid cards, and access liquidity across international markets—all with reduced friction, lower fees, and faster settlement times compared to traditional banking rails.

Stablecoins Take Center Stage in LATAM

Stablecoins have emerged as a critical financial tool in regions where currency volatility and limited banking access persist. In Latin America, this trend is particularly pronounced. According to a June 2024 report by blockchain analytics firm Kaiko, Tether’s USDT is significantly more transacted than Bitcoin across major LATAM economies—including Mexico, Colombia, and Brazil—despite Bitcoin’s recent surge toward $100,000.

While USDT leads in volume, Nuvei’s choice to support USDC reflects a strategic emphasis on regulatory compliance and transparency. As a USD-pegged stablecoin issued by Circle and fully backed by reserve assets, USDC offers enhanced trust and interoperability within regulated financial systems—an essential factor for enterprise adoption.

The growing traction of stablecoins in B2B and merchant payments underscores a broader shift: digital currencies are no longer just speculative assets but are becoming functional tools for commerce.

Expanding Use Cases: From Settlements to Spending

One of the most compelling aspects of Nuvei’s solution is its dual functionality. It supports both B2B settlements using stablecoins on blockchain rails and consumer-facing spending via Visa-enabled cards linked to digital wallets.

For instance, a Brazilian exporter receiving payments from U.S.-based clients can now opt to settle invoices in USDC over a blockchain network like Solana—leveraging fast, low-cost transactions. That same business can then load those funds onto a virtual card and use it to pay for software subscriptions, travel expenses, or supplier invoices anywhere Visa is accepted.

This seamless transition from crypto receipt to fiat-like usability addresses one of the biggest hurdles in cryptocurrency adoption: liquidity fragmentation.

“By integrating stablecoin technology into our payment platform for B2B settlement, we’re ensuring our merchants continually receive unparalleled flexibility, security, and global reach,” said Philip Fayer, Chair and CEO of Nuvei.

Such capabilities are especially valuable in LATAM, where cross-border transaction costs have historically been high and banking delays common. With blockchain-based solutions, settlement times drop from days to minutes, unlocking working capital faster and improving cash flow predictability.

Building on Industry Momentum

Nuvei’s initiative builds on existing momentum within the global payments ecosystem. In September 2023, Visa began testing a USDC settlement pilot on the Solana blockchain in partnership with Nuvei and Worldpay. This trial demonstrated the viability of using programmable money for real-time interbank transfers—a model that could scale across emerging markets.

As more financial institutions recognize the efficiency gains of blockchain settlements, solutions like Nuvei’s position themselves at the forefront of innovation. They don’t replace traditional finance; instead, they enhance it with speed, transparency, and inclusivity.

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Frequently Asked Questions (FAQ)

Q: What is Nuvei’s blockchain payment solution?
A: Nuvei’s solution allows merchants in Latin America to accept and settle payments using stablecoins like USDC. These funds can then be spent globally via Visa-supported physical or virtual cards.

Q: Which stablecoins are supported?
A: The platform currently supports USDC (USD Coin), a regulated and reserve-backed stablecoin issued by Circle.

Q: How does this benefit LATAM merchants?
A: Merchants gain faster cross-border settlements, lower transaction fees, improved liquidity access, and greater financial flexibility—especially valuable in economies with volatile local currencies.

Q: Is this solution available to all businesses in Latin America?
A: While specific eligibility may vary, the service targets SMEs and larger enterprises engaged in international trade or digital commerce.

Q: How secure is the system?
A: Security is ensured through BitGo’s institutional-grade crypto custody solutions and Visa’s proven fraud prevention infrastructure.

Q: Can consumers use this for everyday purchases?
A: Yes—once stablecoin balances are loaded onto Visa-linked cards (physical or virtual), they can be used anywhere Visa is accepted, both online and offline.

The Road Ahead for Digital Finance in LATAM

With top stablecoin issuers like Tether and Circle expanding their regional partnerships, Latin America is becoming a testing ground for inclusive financial innovation. Nuvei’s entry reinforces the idea that blockchain technology isn’t just about decentralization—it’s about practical utility.

As regulatory clarity improves and adoption grows, solutions combining compliant stablecoins with traditional payment networks will likely become standard for cross-border trade. For LATAM businesses, this represents not just technological progress but economic empowerment.

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