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Advanced Payment Solutions, Armenotech and Tempo France form ecosystem on Stellar blockchain

Source: Advanced Payment Solutions

The Canada-headquartered fintech company, Advanced Payment Solutions (APS), has joined the alliance between Cyprus-based fintech firm, Armenotech, and payment company, Tempo France.

The union of the three ambitious fintech market players will enable them to form an ecosystem based on the Stellar blockchain and successfully fulfill new strategic goals, including unique projects bridging traditional finance and digital finance. The union came just a few months after Armenotech and Tempo France signed a strategic partnership agreement to jointly promote unique Armenotech solutions powered by the Stellar blockchain in the global payment and remittance market.

The firms believe that the solutions by Armenotech feature the highest possible degree of security, the lowest cost and full transactional transparency. For the past 12 months, APS has intensively been developing unique projects bridging traditional finance and digital assets. The products being developed enable corporate customers to convert traditional money to digital assets and vice versa.

“Modern financial technologies do not stand still. Clients increasingly demonstrate a demand for services that would enable them to operate both traditional and digital assets, combining various payment methods. We have successfully been using state-of-the-art Armenotech solutions to meet this demand. APS is now able to offer unique products that allow clients to convert fiat money to digital assets and back again, covering aspects including fraud protection, security, KYC and ALM. Implementation of the products has led to significant client portfolio growth and positive financial indicators,” Serik Igbayev, CEO of APS, reported.

He went on to say that the success in previous joint projects and the shared synergy in business development trajectories, as well as the growing demand for bridging services, has formed the basis for an ecosystem that includes Tempo as a corporate payment operator, Armenotech as a developer of Stellar-based IT products and APS as a money services and brokerage provider. The IT platform will remain the Stellar blockchain.

The CBO of Armenotech, Daniel Gazaryan, said that the formation of this ecosystem and the establishment of the new fintech concern will enable the group to complete even more ambitious projects. “We now have an ecosystem that can successfully deal with the whole spectrum of tasks in digital and traditional finance, ranging from payments and processing to
regulatory aspects and business development. We see our system fully automated.”

Mr Gazaryan stated that this novel ecosystem will see the group aiming at new strategic targets. “We are looking at actively participating in three Central Bank Digital Currency (CBDC) projects, two of which are in Europe. It is a very promising digital assets market and we have already taken the first steps along this trajectory. Moving forward together with Tempo France and APS will add new momentum to this journey,” he said.

Mr Gazaryan also shared that the companies will jointly be able to proceed with the introduction of a new Euro-nominated stablecoin. “The modern market needs a new and regulated Euro stablecoin more than ever and we look forward to starting the project.” He said that the burgeoning financial ecosystem will successfully cope with the task and that, according to internal estimates, the Euro- nominated stablecoin market potential currently exceeds 80 billion euro.

The three companies believe that their unification, and the trailblazing projects undertaken by the trio, will enable them to fulfill yet another important goal: to attract investors to the growing digital finance industry.

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