Canadian payments firm Nuvei is buying Payoneer Global for $2.75 billion in cash — a deal that could give stablecoins a bigger role in cross-border transactions. The acquisition, announced Monday, brings together two companies specializing in moving money across borders, and analysts say the combined entity's scale may help push digital dollar tokens into mainstream payment rails.
The all-cash deal at $2.75 billion
Nuvei will pay $2.75 billion to acquire all outstanding shares of Payoneer, a New York-based firm that serves freelancers, marketplaces and small businesses. The purchase price represents a premium of roughly 30% over Payoneer's closing price the day before the announcement. Both boards have approved the transaction, which is expected to close in the second half of 2025, subject to regulatory clearances and shareholder votes.
Why stablecoin payments could get a boost
The merger brings together two payment processors that already handle billions of dollars in cross-border flows. By combining their networks, the new company could offer merchants and marketplaces a more efficient way to settle international transactions using stablecoins — cryptocurrencies pegged to fiat currencies like the US dollar. The deal's backers argue that stablecoins reduce settlement time from days to seconds and cut out intermediary banks, shrinking fees by a meaningful margin.
The regulatory legitimacy of a publicly traded, regulated payments company like Nuvei could also help. Stablecoin adoption has been held back by concerns about counterparty risk and regulatory uncertainty. A large, compliant payments processor offering stablecoin settlement might give risk-averse businesses the confidence to try the technology. Payoneer's network of millions of users across more than 190 countries provides a ready base for such services.
Cost advantages in cross-border payments
Cross-border payments are notoriously expensive — traditional bank wires can cost $40 or more per transaction and take days to clear. Stablecoins, by contrast, settle on blockchains in minutes for fractions of a cent. For businesses that process high volumes of low-value payments, the savings add up quickly. Nuvei and Payoneer both focus on high-growth verticals like e-commerce, gig economy platforms and online marketplaces, where margins are thin and speed matters.
The companies haven't disclosed specific plans for stablecoin integration, but the logic of the deal suggests they'll move quickly. Competitors like Stripe and Square have already dabbled in crypto payments. A combined Nuvei-Payoneer would have the scale to negotiate better rates with liquidity providers and push stablecoin adoption further into the financial plumbing that small businesses rely on.
The deal still needs a green light from regulators — something that could take months. Payoneer shareholders will vote on the agreement in the spring. If it closes, the combined company will operate under Nuvei's corporate structure and stock ticker. Whether stablecoins become a core part of that offering depends on how fast the payments industry shakes off its skepticism of digital currencies.
