Payment company Nuvei plans to acquire the stablecoin and digital payment infrastructure Payoneer for $2.75 billion

According to Bloomberg, payment company Nuvei Corporation announced it will acquire Payoneer Global Inc. for approximately $2.75 billion. After the transaction is completed, the two North American payment companies will be integrated, with a combined annual transaction processing volume exceeding $500 billion.

Under the agreement, Payoneer shareholders will receive $7.40 in cash per share, a premium of about 10% over its previous trading day's closing price of $6.75. Both parties stated that this merger will strengthen their layout in cross-border payments, merchant acquiring, and global funds settlement networks, further enhancing their competitiveness in the global digital payment infrastructure sector.

Payoneer previously disclosed that it has partnered with Citibank to implement blockchain-based fund transfers through Citi Token Services, and will also connect to Bridge to provide its customers with stablecoin transfer and holding services.