Cross-border transactions often involve complicated processes, resulting in delays and high fees for users. To address these challenges, MiniPay has partnered with Noah to simplify international payments for freelancers, creators, and sellers. This collaboration promises to streamline global payouts by converting received funds into stablecoins and providing local cash-out options, thus making the payment process more efficient and accessible.
In 2023, MiniPay was introduced to the market and has rapidly expanded, with over 10 million wallets now activated in more than 60 countries. MiniPay’s efforts in integrating Noah’s infrastructure are part of a broader move to cater to the needs of a growing freelancer community in regions like Africa, Latin America, Southeast Asia, and South Asia. Previously, Noah raised $22 million in a seed round, reflecting significant investor interest in developing a robust financial infrastructure that addresses issues in cross-border payments. This prior development illustrates confidence in the effectiveness of Noah’s and MiniPay’s solutions.
What Financial Solutions are Available?
MiniPay’s new system allows payments received through ACH/SEPA transfers in USD or EUR to be automatically converted into stablecoins. These stablecoins can be cashed out using local payment methods, including mobile money services and various familiar regional systems. Through this setup, users can avoid the traditionally high fees and extended delays associated with international bank transfers. By offering USD/EUR accounts coupled with swift stablecoin conversions, MiniPay supports users in managing their earnings locally without additional complexity.
How Does Noah Support Global Interconnectivity?
Noah’s infrastructure plays a critical role, connecting different financial networks and digital assets, which helps ensure a smooth value transfer across currencies and markets. By facilitating real-time interoperability, the partnership enhances digital payment experiences. Shah Ramezani, CEO of Noah, stated:
“By powering real-time interoperability between bank networks and digital assets, this partnership with MiniPay removes that divide — making global payments feel instant, connected and built for the modern economy.”
The MiniPay and Noah alliance strives to address the evolving financial needs of freelancers globally, leveraging technology to provide practical payment solutions. As this approach aims to meet contemporary economic demands, the partners focus on ensuring transparency, speed, and accountability in their services. Murray Spark, Head of Commercial at MiniPay said:
“By pairing USD/EUR virtual accounts with fast stablecoin conversion, transparent costs and local cash-out in a non-custodial wallet that keeps earnings in users’ control, MiniPay turns international earnings into everyday spending power.”
To expand their impact, MiniPay and Noah aim to showcase that digital financial solutions can bring efficiency to a predominantly manual and analog sector. By offering a method that efficiently integrates virtual currency transactions with local realities, these solutions potentially lower barriers for freelancers and small enterprises seeking seamless international trade capabilities. Their combined emphasis on bringing advanced, yet user-friendly, financial services underscores a commitment to modernizing the payment landscape.
This collaboration reflects a broader shift in the financial technology sector towards more accessible and inclusive financial solutions. By providing these comprehensive options, both companies are positioned to become significant contributors to the evolving global payment infrastructure, potentially impacting freelancers worldwide by offering them simpler ways to manage their income across borders effectively.
