Axiym, a global cross-border payment platform headquartered in Dubai, is leveraging the Avalanche blockchain to target growing demands from money services businesses (MSBs) for blockchain infrastructure and stablecoin solutions. As of April 24, Axiym has processed over $132 million in transaction volume on Avalanche, automating and managing capital for MSBs like Western Union and fintech firms. MSBs do not operate on-chain, but Axiym integrates Avalanche’s capabilities behind the scenes to enhance payment operations significantly. The platform aims to solve issues like capital inefficiency and high costs associated with traditional payment systems. Stablecoins, which offer faster and cheaper transactions, are gaining popularity, particularly in emerging markets where they are reported to be 60% cheaper than fiat options for remittances. Despite regulatory challenges, Axiym's integration of blockchain into existing payment operations demonstrates a potential evolution in how cross-border transactions are conducted.

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