Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Stripe is the first to utilize a new stablecoin payments platform from Paxos

Stripe is the first to utilize a new stablecoin payments platform from Paxos

The BlockThe Block2024/10/14 16:00
By:The Block

Quick Take Stripe’s Pay with Crypto product is the first to utilize Paxos’ new stablecoin payments platform. Paxos supports instant conversions between USD and PayPal’s PYUSD, Circle’s USDC and Paxos’ own USDP for received payments, pay-outs and refunds.

Stripe is the first to utilize a new stablecoin payments platform from Paxos image 0

The blockchain and tokenization infrastructure platform Paxos introduced today's stablecoin payments platform. Stripe's Pay with Crypto product — which makes it easier for merchants to accept stablecoin payments — is the first to use it.

"We’re always looking for ways to make it easier and cheaper for businesses to accept payments from their customers worldwide. Partnering with Paxos, we’re excited to enable stablecoin payments for our users with our Pay with Crypto product," Stripe's Head of Crypto, John Egan, said.

Paxos says its new stablecoin payments platform lets providers leverage a complete solution stack for onboarding, pay-ins, conversions, and pay-outs. The company claims this provides more opportunities for businesses to expand their international reach and reduce costs by accepting a faster and cost-effective alternative to cards and payment wallets.

Paxos supports instant conversions between USD and PayPal's PYUSD +0.13% , Circle's USDC +0.14% , and Paxos' own USDP +0.20% for received payments, pay-outs, and refunds, the company noted in a press release. Users can choose to immediately convert a stablecoin payment to fiat currency or pay out stablecoin balances directly to merchants. Likewise, merchants can issue refunds by instantly converting fiat into the originally used stablecoin and sending it to the wallet that initiated the payment.

Paxos' Head of Product, Ronak Daya, shared their belief that "stablecoins are the future of payments and money movement," explaining: "Adoption and utility will continue to grow as enterprises recognize how stablecoins provide instant, safe and low-cost settlement globally; all meaningful improvements relative to legacy payment rails."

"Our new stablecoin payments offering gives enterprises the infrastructure to onboard clients, power pay-ins and payouts and move money globally," they added.

PYUSD and USDP are supported on Solana and Ethereum, while USDC is available on Ethereum, Solana, Polygon and other chains.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!