Both parties aim to provide secure, efficient, and compliant financial service solutions for users in Canada and around the world.

January 8, 2025, Toronto, Canada—Virgo Group (“Virgo”), which includes a regulated Canadian cryptocurrency trading platform in its portfolio, announced a strategic partnership with PolyFlow, the world's first modular PayFi infrastructure, to jointly promote innovation and implementation in the PayFi (payment finance) ecosystem. Through technological integration, compliance collaboration, and ecosystem development, both parties aim to provide secure, efficient, and compliant financial service solutions for users in Canada and globally.

Promoting the Implementation and Innovation of the PayFi Ecosystem in Canada

PayFi integrates the advantages of blockchain technology and financial payments, redefining the future of financial services. This collaboration will focus on PolyFlow's technological capabilities, combined with Virgo's compliance experience in Canada and globally, to jointly promote the following innovations:

• Deep Integration of Payment Technology and Compliance Operations

Virgo's compliance access solutions will achieve on-chain mapping through PolyFlow's modular compliance layer Payment ID (PID), enabling traditional financial infrastructure to seamlessly connect with DeFi and on-chain payment applications, covering more global user scenarios.

• Optimizing Cross-Border Payment and Settlement Efficiency

Canada has many small businesses and a significant amount of cross-border transactions with the United States, but the efficiency and cost of traditional payment channels need improvement. In this context, PolyFlow and Virgo plan to develop cross-border payment solutions for the Canadian and global markets, utilizing PolyFlow's technological support to build a multi-chain wallet settlement network, combined with Virgo's support for fiat currencies (CAD, USD), significantly reducing cross-border transaction costs and improving settlement efficiency.

• Integration of Digital Assets and Fiat Payments

Based on PolyFlow's PayFi architecture, it supports businesses and individuals in using digital assets for payments, storage, and settlement, achieving seamless integration with the traditional financial system and providing users with a new payment experience.

Looking to the Future: Transformation Opportunities in Canada's Payment Industry

Canada is gradually advancing its Open Banking initiative, which aligns closely with the innovative positioning of PayFi. PolyFlow's technological innovations will combine with Virgo's local and global payment networks to support the vision and plans of Open Banking, enhancing data sharing and financial service efficiency, and connecting more financial institutions and payment scenarios.

At the same time, the collaboration between PolyFlow and Virgo will be user-centered, focusing on meeting the needs of small and medium-sized enterprises, cross-border transactions, and individual users for payment efficiency and security. In the future, they will jointly launch a series of educational and promotional activities to accelerate the popularization of the PayFi concept in the Canadian market.

“Virgo's strong capabilities in compliance operations and asset security provide us with a unique foundation for collaboration. We look forward to building a payment system that combines innovation and trust through this partnership,” said Raymond Qu, co-founder of PolyFlow.

“Virgo's compliance experience in the local market perfectly complements PolyFlow's technological advantages. We believe this collaboration will not only promote the development of PayFi but also inject new momentum into financial innovation in Canada,” said Adam Cai, CEO of Virgo Group.

About PolyFlow

PolyFlow is the first modular PayFi infrastructure designed to connect real-world assets (RWA) with decentralized finance (DeFi). As the infrastructure layer of the PayFi network, PolyFlow integrates traditional payments, crypto payments, and decentralized finance (DeFi), processing real payment scenarios in the real world in a decentralized manner. PolyFlow provides the necessary infrastructure for building PayFi scenarios, ensuring compliance, security, and seamless integration of real-world assets to promote the establishment of a new financial paradigm and industry standards.

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About Virgo

Virgo Group operates a regulated cryptocurrency trading platform located in Canada, known for its secure, compliant, and user-friendly services, and is a leader in the field of crypto asset management and trading.

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