U.S. Paystand, Mexico’s Yaydoo merge, to offer blockchain platform

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MEXICO CITY, Aug 3 (Reuters) – Tech startups Paystand and Yaydoo introduced on Wednesday a merger to make approach for a blockchain platform centered on money circulate administration and liquidity options to companies in the USA and Latin America.

U.S.-based Paystand and Mexico’s Yaydoo stated in a press release that the deal types a B2B fintech unicorn, which they stated was a primary. They didn’t disclose additional particulars on the deal.

“It is going to permit blockchain-based enterprise options to be extra accessible throughout the Americas,” the assertion stated.

Each corporations supply a variety of B2B options primarily based on know-how for the automation of transactions, cost processes and bill assortment.

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The brand new firm could possibly be on monitor for an IPO throughout the subsequent two years, the assertion added.

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Reporting by Kylie Madry; Writing by Valentine Hilaire; Enhancing by Cynthia Osterman

Our Requirements: The Thomson Reuters Trust Principles.

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