Crypto: a payment giant accepts stablecoins (USD)

Payment – payment gateway is embarking on the stablecoin adventure. His new service based on these already has a cryptocurrency exchange principal. announced in a press release dated June 7, 2022, the launch of a stablecoin payment feature.

Its users can, more precisely, accepts settlements in USD coins (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 owners, but it also solves a fundamental problem for companies.

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

These conversions can be done 24 hours a day, including weekends and holidays. The situation was different with traditional settlement methods. The companies therefore only received payments to their bank accounts several days after they were made.

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

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Global early-stage testing with USDC only supports USDC at this time. However, he plans to add more stablecoins to the list.

Meanwhile, is now focused on implementing its USDC settlement solution globally. And the stock market FTX is one of its first customers.

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

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

But this type of initiative raises questions about it the associated risks from companies like and its customers.

The USD (UST) crash showed that a stablecoin could practically lose par with its reference currency. and its customers must consider this doomsday scenario.

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

Especially since regulators don’t necessarily view these cryptocurrencies as competing with fiat currencies. They could then impose uncomfortable restrictions on their uses. wants to seize the opportunities offered by stablecoins with this new feature. However, the London company will 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 taking an interest 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 industry (affiliate link).

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