Business Wire
HOBOKEN, N.J.–(BUSINESS WIRE)–Sling Money, the app designed to simplify international payments, today announced its official launch in the United States. The app makes instant stablecoin-based peer-to-peer payments accessible to customers of all major banks in the United States. Sling Money users in the United States can instantly send money to anyone in the United States or in 75+ countries where Sling Money supports instant transfers.
Customers of all major banks in the United States can now use Sling Money to instantly send money to anyone in the 75+ countries where Sling Money supports instant transfers, or to anyone in the United States.
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Sling Money uses modern real-time payment systems, the fast and inexpensive Solana blockchain, and high-quality reserve-backed stablecoins to facilitate the nearly instant and extremely low-cost transfer of volume both within national borders and across borders. This means that transfers on Sling Money can be both faster and less expensive than traditional money transfer services.
“We can instantly send photos or a text message anywhere in the world at almost no cost, and money should work the same way,” said Mike Hudack, CEO and co-founder of Sling Money. “We believe that all Americans should have access to a global instant financial system. Stablecoin technology has the potential to positively impact the lives of so many – especially the more than five million Americans living abroad, myself included, who need to send money to friends and family quickly and easily.”
When funds are added to Sling Money, they are converted to USDP, also known as the Pax Dollar, which is a fully reserve-backed US Dollar stablecoin issued by the Paxos Trust Company and regulated by the New York Department of Financial Services. U.S. users can load funds into the app with a debit card, which can then be sent to Sling Money users anywhere in the world in less than a second and for free. Funds can also be withdrawn from the app directly to a user’s bank account.