UK-based payments solution provider Checkout.com announced on Tuesday the launch of its stablecoin settlement solution by using Fireblocks’ new crypto payment technology.
Checkout.com, which competes with Fintech firms like PayPal and Stripe, mentioned that it launched the service to enable merchants (businesses) to accept and make payments in USD Coin, a popular stablecoin pegged to the U.S. dollar.
Issued by Circle Inc., USD Coin (USDC) is the second stablecoin by market. Currently, there is about $53 billion worth of USD Coin (USDC) in circulation. Tether remains the biggest stablecoin issuer with $78.6 billion in total supply.
Stablecoins have become a popular way of settlement, helping investors trade digital currencies rapidly without needing to go through banks.
Jess Houlgrave, Checkout.com’s head of crypto strategy, said that the new feature would provide merchants with 24/7 settlements, including weekends and public holidays, which is not currently possible with fiat...
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