Europe starts testing cryptocurrencies for international payments

The well-known German software developer SAP has launched a pilot project of international payments using Circle USDC and EUROC stablecoins. The tokens are developed on the basis of the Ethereum network.

SAP management is trying to solve the problem of sending money abroad quickly. As part of the pilot project, SAP offers its customers to use tokens in test Ethereum networks. Users receive «play money» and can pay a test bill to «evaluate how fast, affordable, and reliable international payments can be [завдяки криптовалюті].»

«Today's cross-border payments are a challenge for many small/medium enterprises and their international business partners. Payments are expensive — up to $ 50 per transaction, slow — up to seven days to transfer money — and opaque: the status of the transaction is not visible. All of these problems can be solved with blockchain-based digital money as a means of payment,» said SAP product expert Sissy Rute.

SAP has previously participated in the development of a blockchain-based project — the GreenToken platform was created to track palm oil supplies.