{"id":336864,"date":"2023-06-23T09:51:04","date_gmt":"2023-06-23T08:51:04","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=336864"},"modified":"2023-06-26T15:47:27","modified_gmt":"2023-06-26T14:47:27","slug":"sap-opens-testnet-registration-for-cross-border-payments-in-stablecoins","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sap-opens-testnet-registration-for-cross-border-payments-in-stablecoins\/","title":{"rendered":"SAP opens testnet registration for cross border payments in stablecoins"},"content":{"rendered":"<p>The German enterprise software firm SAP has launched a preview of its Digital Currency Hub (DCH) system, enabling cross-border payments using <a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/euro-coin\/\">EUROC<\/a>.<\/p>\n<p>Issued by payment technology firm <a href=\"https:\/\/www.circle.com\/en\/\">Circle,<\/a> the USDC and EUROC stablecoins are pegged 1-to-1 with the dollar and euro. <span class=\"css-901oao css-16my406 css-1hf3ou5 r-poiln3 r-bcqeeo r-qvutc0\"><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Peter Schroeder, director at Circle, described the DCH news as &#8220;a big deal.&#8221; He added:<br \/>\n<\/span><\/span><\/p>\n<blockquote><p>&#8220;<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">SAP is the world\u2019s largest provider of Enterprise Application Software, counting 99\/100 of the world\u2019s largest companies as customers. Their customers generate 87% of total global commerce equating to approx. $46T annually.<\/span>&#8220;<\/p><\/blockquote>\n<div class=\"css-1dbjc4n r-1awozwy r-18u37iz r-1wbh5a2 r-dnmrzs\">\n<div class=\"css-1dbjc4n r-1wbh5a2 r-dnmrzs\">\n<div class=\"css-1dbjc4n r-1awozwy r-18u37iz r-1wbh5a2 r-dnmrzs\">\n<div class=\"css-901oao r-1nao33i r-xoduu5 r-18u37iz r-1q142lx r-37j5jr r-a023e6 r-16dba41 r-rjixqe r-bcqeeo r-qvutc0\" dir=\"ltr\">\n<p><span id=\"euro-in-circulation\" class=\"data-value-points euroc_chart_data show-data\" data-coin=\"euro\" data-point=\"47.9\">Although USDC is available on nine blockchains, including Algorand, Solana, and TRON, <a href=\"https:\/\/twitter.com\/peterschroederr\/status\/1671921340444467203\"><span class=\"css-901oao css-16my406 css-1hf3ou5 r-poiln3 r-bcqeeo r-qvutc0\"><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Schroeder<\/span><\/span><\/a> confirmed that the preview phase would use Ethereum only. EUROC has a much smaller token circulation than USDC. It is available on Ethereum and Avalanche.<br \/>\n<\/span><\/p>\n<p><span id=\"euro-in-circulation\" class=\"data-value-points euroc_chart_data show-data\" data-coin=\"euro\" data-point=\"47.9\">The current <a href=\"https:\/\/www.circle.com\/en\/transparency\">circulations<\/a> of USDC and EUROC are $28.2 billion and <span id=\"euro-in-circulation\" class=\"data-value-points euroc_chart_data show-data\" data-coin=\"euro\" data-point=\"47.9\">\u20ac47.9 million ($52.3 million,) respectively.<\/span><\/span><\/p>\n<h2>SAP takes on cross-border payments<\/h2>\n<div class=\"ds-user ds-blog-post__author\">\n<p>Product expert at SAP, <a class=\"ds-link ds-user__name \" title=\"Sissi Ruthe\" href=\"https:\/\/blogs.sap.com\/2023\/06\/15\/cross-border-payments-made-easy-with-digital-money-experience-the-future-today\/\" target=\"_blank\" rel=\"noopener noreferrer\">Sissi Ruthe<\/a>, said cross-border payments are difficult for businesses of all sizes. They are expensive, costing up to $50, can take up to seven days to clear, and &#8220;you never know the status of the transaction,&#8221; she said.<\/p>\n<p>Using digital money via blockchain technology could solve all these problems; Ruthe added that utilizing USDC or EUROC to settle payments instead of the traditional banking network does the job in minutes.<\/p>\n<blockquote><p>&#8220;Technically, each business partner requires a wallet which in the blockchain world is the equivalent of a bank account. These wallets can be held in self-custody, enabling cross-border payments without intermediaries.&#8221;<\/p><\/blockquote>\n<p>During the &#8220;Test Drive,&#8221; SAP will run a testnet comprised of test USDC for participants to experience the process of stablecoin settlement and &#8220;how easy cross-border payments with Digital Money will become in the future.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The German enterprise software firm SAP has launched a preview of its Digital Currency Hub (DCH) system, enabling cross-border payments using USDC and EUROC. Issued by payment technology firm Circle, the USDC and EUROC stablecoins are pegged 1-to-1 with the dollar and euro. Peter Schroeder, director at Circle, described the DCH news as &#8220;a big [&hellip;]<\/p>\n","protected":false},"author":460,"featured_media":336868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,60208,32631],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SAP opens testnet registration for cross border payments in stablecoins<\/title>\n<meta name=\"description\" content=\"SAP has opened a testnet of its USDC, EUROC stablecoin cross border settlement system.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/sap-opens-testnet-registration-for-cross-border-payments-in-stablecoins\/\" \/>\n<meta property=\"og:locale\" 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