Checkout.com launches 24/7 stablecoin settlement in partnership with Fireblocks
Merchants can now accept payments made through USDC and convert the funds directly into fiat currency. Global payment processor Checkout.com has launched a new stablecoin settlement system that will allow merchants to process crypto payments from their customers in real time — potentially widening the use cases of stablecoins within e-commerce. The stablecoin settlement system centers around Circle’s USD Coin (USDC), the second-largest stablecoin by market capitalization, and allows merchants to automatically convert USDC payments into fiat upon receipt. The service will be available to....
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Checkout.com settled $1 billion in stablecoin transactions during its initial pilot phase of Payments Engine. Following a successful pilot phase, digital asset custody platform Fireblocks has launched its new payment engine for merchants, opening up pathways for businesses to settle and accept cryptocurrency transactions across jurisdictions.Fireblocks’ new Payments Engine is said to provide “turnkey solutions” for businesses that want to integrate digital assets into their operations, the company announced on Oct. 24. The platform allows payment service providers to incorporate new crypto....
The rebranded Libra network aims to come out with an initial product around the end of this quarter, with help from Fireblocks and First Digital Assets.
Global payment giant Visa has announced the launch of stablecoin settlement in the United States using Circle’s USDC on the Solana Blockchain. The expansion follows the company’s ongoing efforts to modernize its settlement layer and be at the forefront of the emerging sector. Related Reading: Terra Founder Do Kwon Could Face 30-Year Sentence In Potential […]
Checkout.com, FTX, PayPal and Crypto.com headline the latest business news from the world of cryptocurrency and blockchain. Stablecoins are a controversial subject in crypto. Questioning the legitimacy and backing of Tether (USDT) is a right of passage for many entering the crypto market for the first time. The meltdown of the Terra (LUNC; or the old LUNA) ecosystem left little doubt that algorithmic stablecoins don’t have a future beyond Do Kwon’s fantasies. Pesky regulators are constantly poking and prodding at dollar-pegged assets to carve out firmer rules on their usage. But, if you....
On Tuesday, the financial technology company Checkout.com announced that it will allow merchant settlements using the stablecoin USDC via a partnership with the crypto firm Fireblocks. Checkout.com further detailed that in a beta test with select clients, the company settled $300 million in transaction volume leveraging the USDC stablecoin.
Checkout.com Leverages the Stablecoin USDC
Checkout.com has announced it will be utilizing USDC for merchant settlements. The company, founded in 2009 by Guillaume Pousaz, said it will allow businesses to make payments in, and accept,....