- Any counterparty can take part in the experiment
- The test is based on the Goerli network
- It aims to gain perspective and gather feedback on cross-border payments in this environment
- SAP is also developing other blockchain-based business solutions
SAP software company is actively testing cross-border payment capabilities in USDC based on Ethereum Goerli. The project is open to any contractor interested in this topic.
The test started last quarter and is still ongoing. This is how Bernhard Schweitzer, CEO of SAP Digital Currency Hub, describes the experiment:
“In the project, each participant gets their own system and stabelcoins in the Goerli network to settle with a selected business partner.”
The purpose of the study is to assess the prospects and possibilities of the new direction. Existing mechanisms for cross-border payments have low processing speeds, many intermediaries and high costs.
There are two innovative approaches to solve this problem – CBDC and stabelcoins. SAP is interested in the second option, because it is less dependent on the regulatory climate in a particular jurisdiction.
In the future, the company plans to integrate blockchain-based payment solutions into its suite of ERP products.. This will allow the customer to pay for a service or product in cryptocurrency within the existing payment infrastructure of the firm. It’s simple. Ethereum offers a reliable and promising environment. Meanwhile, the USDC stabelcoin became “native” to this ecosystem due to its integration into the Arbitrum shell.
The USDC stabelcoin has become “native” to this ecosystem.