Canadian blockchain technology company Stablecorp has announced the beta launch of a personal and commercial payments and treasury management platform that is powered by blockchain infrastructure.
Dubbed Grapes Finance, the platform enables Canadian individuals and businesses to access foreign exchange (FX), payment and yield analytics solutions — all in one portal, built on blockchain rails and using both fiat and digital assets, Stablecorp said Thursday (Sept. 29) in a press release.
In addition, Grapes has a “one-stop onboarding” structure that allows users to access digital financial asset services from partners through the Grapes interface, without having to use multiple logins, the release stated.
“This type of ‘ecosystem’ based solution, with services remaining in the client’s name, yet all being controlled and linked through a seamless Grapes interface, represents a completely novel approach to offering financial services,” Stablecorp CEO Alex McDougall said in the release. “We anticipate being able to offer ‘step function’ cost and efficiency savings for individuals and enterprises using this solution set.”
To enable global last-mile fiat solutions, Grapes has partnered with global money movement firm Nium, according to the release.
Grape is currently in beta, with pilot tests being conducted with select business partners. Stablecorp expects to release the platform in the first quarter of 2023, per the release.
“The frictions that have collected around the traditional financial system simply cannot be solved by point solutions leveraging legacy mainframe infrastructure,” McDougall said in the release. “It’s time to replumb the solutions available to both Canadian and global consumers and businesses, and we are thrilled to be taking step one today with the Grapes Beta launch.”
PYMNTS research has found that 57% of companies are interested in how they could use emerging technologies to enhance their treasury management.
Read more: 57% of Companies Are Interested in Using New Treasury Management Tech
This interest is being driven by businesses’ growing appetite for seamless, digital-first banking solutions that can better streamline their B2B processes, according to the “Next-Gen Commercial Banking Tracker,” a PYMNTS and FISPAN collaboration.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More