Visa partner Reap plans Mexican Peso stablecoin to explore 24/7 on-chain FX

Reap, a Hong Kong-based fintech platform and Visa partner, plans to introduce a Mexican Peso stablecoin to support 24/7 on-chain foreign exchange settlement. The company is also exploring stablecoins for the Hong Kong Dollar, Euro, Korean Won, and Japanese Yen to reduce cross-border costs. Reap, a Visa Principal Issuer Member, aims to integrate these stablecoins into its card, cross-border payment, and treasury management products to address inefficiencies in traditional banking hours and high cross-border fees.