Vaulta teams up with Virgo to launch VirgoPay, a global remittance network using stablecoins

Vaulta, a Web3 banking operating system and former EOS Network, has partnered with crypto service provider Virgo to launch VirgoPay, according to a PR Newswire press release. As the default transaction layer for VirgoPay, Vaulta will support this cross-border remittance network that uses stablecoins to cut fees and speed up international transfers. Set to launch in May, VirgoPay will initially connect financial hubs in the U.S., Hong Kong, Canada, Argentina, Brazil and Australia, with plans to expand into South America, Southeast Asia and the Middle East in Phase 2.