- Advanced Payment Solutions (APS), Armenotech, and Tempo France have formed an ecosystem on the Stellar blockchain.
- The alliance aims to fulfill strategic goals, develop unique projects bridging traditional finance and digital finance, and attract investors to the digital finance industry.
Advanced Payment Solutions, Armenotech, and Tempo France form ecosystem on Stellar blockchain
Advanced Payment Solutions (APS), a Canada-headquartered fintech company, has joined forces with Armenotech, a Cyprus-based fintech firm, and Tempo France, a payment company, to establish an ecosystem on the Stellar blockchain. This collaboration brings together three ambitious fintech market players to achieve new strategic goals and drive innovative projects that bridge the gap between traditional finance and digital finance. The union follows the earlier partnership agreement between Armenotech and Tempo France to promote Armenotech solutions powered by the Stellar blockchain in the global payment and remittance market.
Building an Ecosystem on Stellar
The alliance believes that Armenotech’s solutions offer a high level of security, cost-effectiveness, and transactional transparency. APS, in particular, has been actively developing unique projects over the past 12 months that facilitate the conversion of traditional money to digital assets and vice versa. These products cater to corporate customers and address aspects such as fraud protection, security, KYC (Know Your Customer), and ALM (Anti-Money Laundering).
APS has seen significant growth in its client portfolio and positive financial indicators through the implementation of these solutions.
Synergy and Ambitious Projects
The success of previous joint projects, along with shared synergy in business development trajectories and the increasing demand for bridging services, has laid the foundation for the ecosystem. It comprises 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 that underpins the ecosystem will be built on the Stellar blockchain.
Daniel Gazaryan, the CBO of Armenotech, emphasizes that the formation of this ecosystem enables the group to undertake more ambitious projects. The ecosystem’s capabilities span various tasks in digital and traditional finance, including payments, processing, regulatory aspects, and business development. Gazaryan highlights the group’s focus on actively participating in Central Bank Digital Currency (CBDC) projects, with two projects based in Europe.
This move aligns with the growing digital assets market and sets the stage for further advancements alongside Tempo France and APS.
New Euro-nominated Stablecoin and Investor Attraction
The ecosystem also aims to introduce a new Euro-nominated stablecoin, recognizing the market’s need for a regulated stablecoin pegged to the Euro. The companies are confident in their ability to successfully address this demand and estimate the current market potential for a Euro-nominated stablecoin to exceed 80 billion euros. Additionally, the collaboration between APS, Armenotech, and Tempo France positions them to attract investors to the thriving digital finance industry, leveraging their combined expertise and trailblazing projects.
The establishment of this ecosystem on the Stellar blockchain signifies a significant step toward driving innovation in the financial industry and accelerating the adoption of digital finance solutions. The strategic goals, development of unique projects, and investor attraction will contribute to the growth and advancement of the digital finance ecosystem as a whole.