Crypto: a payments giant accepts stablecoins (USD)

Crypto: a payments giant accepts stablecoins (USD)

Payout – The payment gateway is embarking on the adventure of stablecoins. Its new service based on these already has a cryptocurrency exchange major. announced, in a press release dated June 7, 2022, the launch of a stablecoin payment functionality.

Its users will be able, more precisely, accept settlements in USD coin (USDC). And to be able to offer this new payment method, has partnered with Fireblocks.

Beyond the technical aspect, what are the real challenges of this initiative? The latter certainly delights stablecoin holders, but it also solves a fundamental problem for companies.

With this new feature, customers will be able to convert instantly and automatically USDC in fiat currencies.

These conversions can be performed 24 hours a day, including weekends and holidays. The situation was different with traditional settlement methods. The companies then only received the payments in their bank accounts several days after they had been made.

However, this delay creates working capital constraints. This new feature removes this time frame and now resolves this issue.

>> Your first stablecoins in a few minutes? Sign up on Binance (affiliate link)<<

Global First Steps Testing with USDC only supports USDC at this time. It does, however, plan to add other stablecoins to the list.

In the meantime, is now focused on rolling out its USDC settlement solution globally. And the stock market FTX is one of its first customers.

Before this launch for the general public, the company had already tested this method of payment with some of its customers. It had facilitated, in this context, $300 million in transaction volumes.

Not so stable stablecoins, unpredictable regulators’s dive into stablecoins is obviously good news for the industry. The adoption of USDC, and soon that of its competitors, is after all backed by a payments giant. The company’s latest valuation is $40 billion.

But this type of initiative raises questions about to the risks involved by companies like and its customers.

The collapse of terraUSD (UST) showed that a stablecoin could in practice lose parity with its anchor currency. and its customers need to consider this doomsday scenario.

But above all, they are exposed to risks of a regulatory nature. They are in fact not immune to the establishment of a strict regulatory framework on stablecoins.

Especially since regulators do not necessarily see these cryptocurrencies as competitors of fiat currencies in a good light. They could thus impose inconvenient restrictions on their uses. wants to seize the opportunities offered by stablecoins with this new feature. The London-based company will however have to adapt to the mood of British regulators towards the sector.

You have the right to understand nothing about stablecoins. On the other hand, not being interested in Bitcoin is unforgivable! Don’t wait any longer to prepare for the future by going to register on the Binance platformTHE absolute benchmark in the sector (affiliate link).

Leave a Comment

Your email address will not be published. Required fields are marked *