Leading Emerging Markets Stablecoin Issuer Transfero Chooses Wormhole as Exclusive Interoperability Provider

GRAND CAYMAN, Cayman Islands, Nov. 13, 2024 /PRNewswire/ -- Transfero, a leading fintech company specializing in stablecoins for emerging markets currencies, has selected Wormhole as its exclusive interoperability provider. Wormhole, the global leader in cross-blockchain interoperability, will power Transfero's growing suite of stablecoins across multiple blockchains using its state-of-the-art NTT (Native Token Transfer) framework.

Based in Brazil, Transfero has emerged as a major force in the global stablecoin ecosystem. Its flagship stablecoin, BRZ, is the largest non-USD stablecoin globally, with over $200 million in monthly trading volume and more than 1 million transactions processed since 2022. BRZ has become a crucial financial instrument in Brazil, offering users seamless digital transactions backed by the Brazilian real. Alongside BRZ, Transfero also operates ARZ for Argentina, and today launches CLZ in Chile, further extending its reach across Latin America.

The collaboration between Transfero and Wormhole is set to be long-term and multifaceted. Transfero will leverage Wormhole's NTT framework to add multichain functionality to its stablecoins, ensuring that assets can be transferred efficiently across a range of blockchain networks. Wormhole will enable Transfero to unify its liquidity across chains, eliminating fragmentation and the need for wrapped tokens, while maintaining ownership and control over its token contracts.

Wormhole has facilitated over $45 billion in cross-chain volume to date and its NTT framework is trusted by systemically-important assets such as Lido's stETH and MakerDAO's DAI stablecoin. Additionally, Wormhole is the preferred interoperability platform for institutional-grade assets, with recent partnerships including Securitize, who have chosen Wormhole as their official interoperability provider.

"Wormhole provides us with the flexibility and security we need to support our rapidly expanding portfolio of stablecoins," said Marlyson Silva, CEO of Transfero. "As we continue to scale BRZ, ARZ, CLZ, and other stablecoins, this integration allows us to offer seamless multichain experiences, ensuring liquidity and accessibility for users across Latin America and beyond."

"Transfero is a global leader in the stablecoin space, particularly in emerging markets where financial access and innovation is critical. Their innovative approach with BRZ, ARZ, and now CLZ, has brought a great deal of value to users across Latin America. I am excited to work with Transfero to drive forward their multichain strategy and help continue to improve the onchain experience for their users," said Dan Reecer, Co-Founder of Wormhole Foundation.

For more information about Transfero and its stablecoin solutions, please visit Transfero's website.

For more information about Wormhole, please visit Wormhole's website.

About Wormhole

Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.

The wider Wormhole network is trusted and used by teams like Circle and Uniswap. To date, the platform has facilitated the transfer of over 45 billion dollars through over 1 billion cross-chain messages.

About Wormhole Foundation

The Wormhole Foundation is the steward of Wormhole—the world's first generalized messaging protocol. Our mission is to empower passionate people in researching and developing blockchain interoperability technologies. Through grants, research, and ecosystem programs, we seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem.

About Transfero

Based in Brazil, Transfero has emerged as a major force in the global stablecoin ecosystem. Its flagship stablecoin, BRZ, is the largest non-USD stablecoin globally, with over $200 million in monthly trading volume and more than 1 million transactions processed since 2022. BRZ has become a crucial financial instrument in Brazil, offering users seamless digital transactions backed by the Brazilian real. Alongside BRZ, Transfero also operates ARZ for Argentina, and today launches CLZ in Chile, further extending its reach across Latin America.

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SOURCE Wormhole Foundation and Transfero