InFocus Group Holdings (ASX:IFG) secured a $1.5 million service agreement to develop a cross-border stablecoin-based payment platform for Seychelles-based GBO Assets, according to a Tuesday filing with the Australian bourse.
The system will enable cross-border remittances and currency exchange via stablecoin-denominated payments. It is expected to be delivered over the next 24 months.
The deal brings the total potential contract value for work that InFocus has secured with GBO Assets to more than $4 million, the filing said.
InFocus Group's shares surged 18% on market close.
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