- Blockchain-based digital payments service provider PayStand has acquired Mexico-based financial automation technology startup, Yaydoo. The financial terms were not disclosed.
- The deal will facilitate and enhance a blockchain platform focused on cash flow management and liquidity solutions for businesses in the U.S. and Latin America.
- “DeFi-enabled B2B payment networks that are on-chain can unlock transformative working capital efficiencies and make financial services more fair and open, especially in developing markets like LATAM,” said PayStand CEO Jeremy Almond.
- The combined company could be on a path to an Initial Public Offering (IPO) in the next two years.
- Both PayStand and Yaydoo offer technology-enabled B2B solutions for automating transactions, payment, and bill collection processes.
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