Paystand buys Yaydoo to expand B2B payments network across Americas

B2B payments platform Paystand has acquired Mexican fintech company Yaydoo for an undisclosed sum in what it calls one of the largest tech consortiums in the Latin America (LatAm) region.

Paystand acquires Yaydoo

Paystand is a decentralized finance (DeFi) company leveraging blockchain and cloud to power the Paystand Bank Network, a zero-fee digital B2B payments network.

The company says its acquisition of accounts payable and cash flow management fintech Yaydoo will help it make commercial blockchain-based solutions more accessible across the Americas.

Having each built accounts receivable/payable B2B DeFi payment networks in both the US and Mexico, the Yaydoo acquisition will allow Paystand to connect the two platforms through a single open, instant and secure global payment network It is now possible.

Thanks to this deal, the company has set its sights on expanding its network across the continent, from Canada to Colombia.

Paystand CEO Jeremy Almond said:

These technologies can shift the balance of power from traditional financial institutions and governments to buyers and sellers, benefiting business and society, Almond adds.

Yaydoo CEO Sergio Almaguer, who will continue to lead the combined company’s expansion in Latin America, said the new merger will digitize trade between the United States and Mexico. It is the world’s most active trade corridor.”