On Tuesday, June 7, Checkout.com announced the launch of a stablecoin settlement solution. The society uses new crypto payment technology from Fireblocks for settlement. With this access, Checkout.com is ready to provide its merchants with flexible and instantaneous conversion of customer payments into fiat in stablecoin.
Checkout.com has partnered with Fireblocks to accept payments in stablecoins.
Checkout.com said she would use stablecoins to settle payments 24/7 for its traders. The online payment company has partnered with the crypto security firm Fireblocks to enable new payment features. Checkout.com says it has started allowing customers to accept and perform with theUSDC. L’USDC is the second largest stablecoin in the world which is pegged to the US dollar.
Jess Houlgrave, Head of Strategy crypto at the house of Checkout.comhighlighted the benefits of activating stablecoins. L’USDC will allow traders to sort payments daily, including weekends and holidays. A feature that is currently not possible with fiat currencies.
Checkout.com said it tested the feature privately with select customers. It has already facilitated a transaction volume of $300 million over the past few months. He now plans to roll out the product globally, the cryptocurrency exchange FTX based in the Bahamas being the first to use it.
Additionally, Checkout.com was last valued at $40 billion. It is also the last major financial institution to enter the space. crypto. In effect, Stripe recently launched its own payment function stablecoinallowing Twitter creators to pay in USDC.
Bonus: Ripple partners with Lunu to enable luxury retailers to accept crypto payments.
Regulators are trying to impose strict rules on stablecoins
Additionally, the functionality of Checkout.com was growing amid a crypto market crash. During the past year, theATH of major crypto assets fell sharply, with Bitcoin dropping more than 50% from its all-time high.
Additionally, Terra USD plunged in May, causing investors to panic. At the same time, more and more investors are flocking to the space crypto. The crypto industry is growing at an alarming rate and regulators are paying more and more attention to it.
Many senior US government officials have called for proper regulation of the crypto. The Treasury Department, Janet Yellenwants U.S. regulators to finalize and approve the regulations on stablecoins by the end of the year. The British government unveiled proposals to empower the Bank of England to step in and regulate stablecoins.
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Checkout.com offers permanent settlement by allowing payments in stablecoins. – Latest News
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