Nexo and Sphere Partner to Cut Business Payment Settlement Times from Days to Hours

Can Blockchain Fix Cross-Border Payment Delays? Nexo and Sphere Think So

Why do international business payments still take days to settle in a world of instant digital transactions? The global cross-border payment system, dominated by traditional banking infrastructure, remains slow, costly, and dependent on intermediaries. Settlement times can stretch from three days to a week, with fees ranging between 3-7% per transaction, according to the World Bank. For businesses in regions with volatile currencies—such as Argentina, Brazil, and Mexico—these delays and costs compound financial risk and liquidity challenges.

\ Nexo, a premier digital assets wealth platform, has announced a strategic partnership with Sphere, a leader in same-day cross-border settlement, to tackle these inefficiencies. The collaboration integrates blockchain-based solutions to reduce settlement times from days to hours, streamline treasury operations, and provide businesses with stable, near-instant currency conversion.

Addressing a Growing Problem

The inefficiencies of legacy payment systems have driven businesses to explore alternatives. According to the Bank for International Settlements, global stablecoin transaction volume exceeded $7 trillion in 2024, signaling increasing demand for faster, blockchain-powered settlements. Nexo and Sphere aim to leverage this shift by providing businesses with a secure and compliant way to bypass slow correspondent banking networks.

How the Partnership Works

The Nexo-Sphere collaboration focuses on three key areas:

1. Near-Instant Settlement

Sphere’s scalable infrastructure shortens settlement times from days to hours, reducing FX risk and improving liquidity for businesses. This is especially beneficial in high-inflation economies where stablecoins provide a hedge against currency fluctuations. Through Sphere’s API, businesses, fintechs, and financial institutions gain access to efficient, near-instant currency conversion for cross-border payments.

2. Lower Costs and Smoother Transactions

By eliminating multiple banking intermediaries, the partnership reduces transaction fees, making payments more predictable and cost-effective. Nexo’s integration with Sphere enhances its financial services suite, including personal USD accounts, crypto-backed loans, and interest-earning products, while ensuring corporate clients can move capital seamlessly across borders.

3. Regulatory-Compliant Blockchain Solutions

Compliance remains a critical challenge in digital payments. Nexo and Sphere are addressing this by operating within regulated frameworks to ensure adherence to anti-money laundering (AML) and know-your-customer (KYC) standards.

Industry Insights and Expert Commentary

"At Nexo, we unite traditional and digital assets to build the next generation of wealth,” said Savina Boncheva, Chief Operating Officer at Nexo. “Collaborating with Sphere furthers that goal by giving clients and businesses a faster, more transparent way to move between global currencies and digital assets, all within a compliant framework.”

\ “With Latin American economies contending with considerable inflation and currency volatility, our alliance with Nexo stands to be a real game-changer,” said Arnold Lee, CEO of Sphere. “By joining forces, we can deliver a secure, streamlined environment for everything from everyday B2B transactions to larger-scale settlements—significantly cutting the time and overhead businesses face.”

A Scalable Future for Cross-Border Transactions

Nexo and Sphere plan to roll out their blockchain-based payment infrastructure in select markets before expanding globally. With businesses increasingly turning to digital assets for financial efficiency, this partnership could set a precedent for a new standard in cross-border transactions.

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:::tip Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR

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