Better Payment Network (BPN), a payment network based on the BNB Chain, has announced the raising of $50 million in a seed round led by the venture fund YZi Labs (formerly known as Binance Labs).
This is reported by Business • Media
Instant Transfers and Low Fees Between Countries
BPN is implementing a hybrid CeDeFi architecture that combines the security of centralized solutions with the advantages of decentralized infrastructure. The network enables instant and regulated stablecoin transfers across different jurisdictions with an average fee of only 0.3%. This is significantly lower compared to traditional banking channels, where settlement times typically range from 1-2 days. Thanks to BPN, this time has been reduced to 3-4 hours.
The network already supports popular regional stablecoins, including:
- BBRL (Brazilian Real);
- cNGN (Nigerian Naira);
- MEXAS (Mexican Peso);
- EURI (Euro).
Expanding Functionality and Future Plans
By the end of the current year, the BPN team plans to launch a DeFi segment—a blockchain-based marketplace for exchanging stablecoins without the need for identity verification. It is expected that the network will soon support up to 20 assets from Latin America, Africa, and Asia.
The investment funds will also be directed towards creating liquidity pools for on-chain exchanges and attracting market makers, which will help ensure price stability and fair rates through arbitrage and balancing.
“The platform operates on the BNB Chain blockchain and promises to reduce settlement times from 1-2 days to 3-4 hours. The average transaction fee is 0.3%, which is significantly lower than traditional banking channels.”
As a reminder, earlier the startup Tria raised $12 million in two funding rounds.