UK banking infrastructure provider ClearBank announced on April 22 that it has partnered with Singapore-based cross-border payments firm Tazapay, granting Tazapay access to UK and European payment rails. The deal marks ClearBank’s first Singapore client and its fifth Asia-based partnership this year, according to ClearBank.
Partnership Overview
Tazapay serves merchants and platforms in more than 170 countries, supports over 80 local payment methods, and holds licenses in Singapore, the US, Canada, and Australia.
ClearBank is an API-driven infrastructure provider and fully regulated bank that gives fintechs and other firms access to UK payment schemes, including Faster Payments and Bacs, through its API.
How the Partnership Works
Tazapay operates a model where businesses fund cross-border payouts with stablecoins, digital tokens designed to hold a steady value such as USDC or USDT. Those funds are converted into government-issued currency when a payout is made.
This approach can free up cash for Tazapay’s business clients by reducing the need to prefund and hold balances in several government-issued currencies. ClearBank’s regulated accounts and payments infrastructure add traditional payment rails to stablecoin-funded payout models.
ClearBank’s Asia Expansion Strategy
The Tazapay partnership fits ClearBank’s broader effort to serve Asia-based fintechs entering the UK and Europe. ClearBank’s API links to UK payment schemes ease setup for Asia-based fintechs that might otherwise need other banking ties.
ClearBank has previously announced UK payment rail partnerships with China’s YeePay, PingPong, and PhotonPay. These partnerships reflect ClearBank’s positioning as a banking infrastructure provider for Asia-based companies expanding into Western markets.
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