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In a strategic move that holds immense promise for the fintech industry, Canadian-based fintech company Advanced Payment Solutions (APS) has joined forces with Cypriot fintech firm Armenotech and payment company Tempo France. This union of ambitious fintech players is geared towards creating an ecosystem powered by the Stellar blockchain, with a focus on addressing new strategic challenges and pioneering projects that bridge the gap between traditional and digital finance.
The Birth of a Promising Alliance: Armenotech and Tempo France
This collaboration comes just months after Armenotech and Tempo France signed a strategic partnership agreement to jointly promote unique Armenotech solutions based on the Stellar blockchain in the global payments and money transfer market. The companies firmly believe that Armenotech's solutions offer maximum security, minimal transaction costs, and complete transparency.
Over the past year, APS has been diligently developing unique projects that merge traditional finances with digital assets. These products enable corporate clients to seamlessly convert fiat currency into digital assets and vice versa, covering aspects such as fraud protection, security, KYC, and ALM.
According to Serik Igbayev, CEO of APS, “Modern financial technologies are constantly evolving. Clients increasingly demand services that allow them to operate with both traditional and digital assets, combining different payment methods. We have successfully employed the most advanced Armenotech solutions to meet this demand. Now, APS can offer unique products that enable customers to convert fiat money into digital assets and back, addressing aspects such as fraud protection, security, KYC, and ALM. The implementation of these products has led to significant portfolio growth and positive financial results.”
The Stellar-Powered Fintech Ecosystem
This new fintech consortium comprises Tempo as the corporate payment operator, Armenotech as the developer of IT products based on Stellar, and APS as the provider of financial and brokerage services. The backbone of this ecosystem remains the Stellar blockchain.
CBO of Armenotech, Daniil Gazaryan, emphasized that the formation of this ecosystem and the creation of a new fintech conglomerate will empower the group to pursue even more ambitious projects. He stated, “Currently, we have an ecosystem capable of successfully solving the entire spectrum of tasks in digital and traditional finance, from payments and processing to regulatory aspects and business development. We see that our system is fully automated.”
Mr. Gazaryan further revealed that this new ecosystem will engage in three Central Bank digital currency (CBDC) projects, two of which are in Europe. He described the digital asset market as highly promising and shared, “Moving forward together with Tempo France and APS will give new impetus to this journey.”
Additionally, Mr. Gazaryan hinted at the joint introduction of a new stablecoin denominated in euros, stating, “The modern market is in great need of a new, regulated euro-pegged stablecoin, and we look forward to launching the project.” He expressed confidence that the developing financial ecosystem is well-equipped to meet this challenge, estimating the potential market for euro-denominated stablecoins to exceed 80 billion euros.
These three companies are convinced that their collaboration and innovative projects will not only drive growth in the digital finance industry but also attract investors to this burgeoning sector.
