Vaulta and VirgoCX Collaborate to Launch Stablecoin Remittance App VirgoPay
By Micah Zimmerman
April 4, 2025
In an innovative move poised to transform cross-border payments, web3 banking firm Vaulta has partnered with digital asset provider VirgoCX Global Holdings to unveil VirgoPay, a new remittance application. Scheduled for launch in May 2025, VirgoPay aims to streamline international payments by utilizing stablecoins to minimize transfer fees and accelerate transaction speeds.
A New Era in Remittances
According to a press release shared with crypto.news, VirgoPay is designed as a cross-border remittance network that integrates stablecoin technology. By leveraging Vaulta as its default settlement layer, the app promises to enhance the reliability and efficiency of international payment transfers.
The service will enable users to fund their transactions through various traditional payment methods, including bank transfers, e-transfers, and credit or debit card processing. Additionally, users can opt to transfer funds directly from their cryptocurrency wallets, making the app versatile for a wide range of users.
Stablecoins will serve as key intermediaries in this process, allowing for near-instant transactions while cutting costs by as much as 70% compared to traditional remittance services. This substantial reduction in fees aims to tackle the high costs typically associated with cross-border payments, which have been a long-standing barrier for individuals in many regions.
Meeting Critical Payment Needs
“Cross-border payments remain costly and slow, often requiring access to banks that some regions lack,” noted Yves La Rose, CEO of Vaulta Foundation. “Virgo is addressing this by leveraging stablecoins and demonstrating the power of Vaulta’s Web3 Banking OS.”
The launch of VirgoPay aligns with Virgo’s mission to enhance financial accessibility for underserved populations. Adam Cai, CEO of Virgo, stated, “Stablecoins for payments will be the first killer app for distributed ledger technology. VirgoPay is excited to partner with Vaulta to make global money movement seamless.”
Rollout Plans and Market Impact
The first phase of VirgoPay’s rollout will connect major financial hubs including the United States, Canada, Hong Kong, Argentina, Brazil, and Australia. Following this initial phase, plans are in place to expand into South America, Southeast Asia, and the Middle East, strategically positioning VirgoPay to penetrate a projected $1 trillion remittance market by 2029. Vaulta, which recently rebranded from EOS Network, is focused on expanding its financial infrastructure solutions and anticipates additional partnerships will be announced in the near future.
As the world continues to embrace digital currencies and blockchain technology, the collaboration between Vaulta and VirgoCX represents a significant step toward making remittances faster, more affordable, and accessible to a global audience.
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