PPRO and Damisa Expand Stablecoin Settlement Across Borders

PPRO has partnered with UK-based Damisa to use regulated stablecoin infrastructure for treasury operations and cross-border settlement, beginning in Latin America. The arrangement is designed to streamline international fund transfers, reduce reliance on traditional correspondent banking networks, and improve visibility into payment flows.

PPRO provides local payment methods to payment service providers (PSPs) and merchants across multiple markets. Under the agreement, the company uses Damisa’s network of on-ramps and off-ramps to move funds between traditional currencies and digital assets. Damisa converts the funds into regulated stablecoins, transfers them across borders on the same day, and settles them in a currency selected by PPRO.

The partnership replaces multiple intermediary banking steps with a single regulated settlement route, potentially reducing the capital PPRO must hold in advance across individual markets while improving payment transparency.

The initial deployment focused on Latin America, where demand for local payment services has been growing but moving collected funds across borders can remain difficult and inefficient.

Latin America provides the initial deployment market

Latin America was selected as the starting point for the collaboration because of its expanding local payments market and the operational challenges associated with transferring money internationally. Businesses collecting payments through domestic methods across several jurisdictions often need to maintain prefunded balances in multiple locations to support timely payouts and settlements.

These requirements can tie up working capital and complicate treasury management. Traditional correspondent banking arrangements may also involve several intermediary institutions, making it harder for businesses to track payments throughout the settlement process.

Damisa’s infrastructure is intended to address these challenges by connecting local collection channels with cross-border transfers and settlement in local currencies. Following the initial rollout, the platform has expanded its support to include collection, international fund movement, and local-currency settlement as the partnership reaches additional markets.

Almir Majcic, vice president of treasury at PPRO, indicated that the company needed fast and dependable cross-border fund transfer capabilities as its payment platform continued to grow. He added that the performance of the initial Latin American deployment supported the decision to extend the arrangement.

The expansion could help PPRO manage liquidity across markets more efficiently while providing greater oversight of funds moving through its payment operations.

Stablecoin regulation supports institutional adoption

The collaboration comes amid changes in the international payments industry, where correspondent banks have reduced their presence in some corridors experiencing growing cross-border demand. This can make it more difficult for payment companies to move money efficiently, particularly in markets where traditional banking connections are limited or expensive.

At the same time, regulatory frameworks governing stablecoins and digital assets are developing in major jurisdictions. The European Union’s Markets in Crypto-Assets Regulation (MiCA) establishes a regulatory framework for crypto-asset markets, while the United States’ GENIUS Act provides a federal framework for payment stablecoins.

Damisa argues that these developments are helping position regulated stablecoin infrastructure as a potential settlement option for institutional payment flows, extending its use beyond businesses primarily focused on cryptocurrency trading.

For payment companies operating across multiple countries, stablecoin-based settlement may offer an alternative to fragmented correspondent banking arrangements, with potential benefits for transaction speed, liquidity management, and payment tracking.

However, the practical benefits depend on regulatory compliance, the availability of local currency conversion services, and the ability to maintain reliable connections with banking and payment systems in each market.

Damisa outlines its regulatory framework

Damisa operates across multiple jurisdictions and maintains several financial services registrations and authorizations. The company holds an Australian Financial Services Licence and is registered with AUSTRAC for digital currency exchange and remittance activities. It is also registered as a Money Services Business with Canada’s FINTRAC and holds a virtual asset service provider registration in Poland.

The company’s Malta crypto-asset service provider and Payment Institution authorizations remain in progress, according to the information provided.

Damisa also applies sanctions screening, anti-money laundering controls, and transaction screening to payments processed through its infrastructure.

The partnership’s next phase will involve extending the settlement arrangement into additional markets. Its longer-term impact will depend on adoption across payment corridors, regulatory requirements, and the extent to which the model can reduce funding costs while maintaining reliable settlement in local currencies.