⚡ Paxos Unveils New Payment System: Revolutionizing Transactions
posted 15 Oct 2024
The Paxos Stablecoin Payments system supports Stripe’s Pay with Crypto feature, enabling efficient transactions with a complete infrastructure for registration, payment processing, conversion, and withdrawal.
Paxos Stablecoin Payments Source: paxos.com
“Introducing our new Paxos Stablecoin Payments platform! Now it’s easier than ever for payments platforms and businesses to accept stablecoin payments with:faster settlement; streamlined onboarding; instant conversion between USD and USDP, PYUSD, and USDC. We’re thrilled that @stripe is the first customer of this solution. Learn more in our press release,” – announced Paxos on Х.
Paxos emphasizes that stablecoins allow businesses to manage their money more efficiently, slashing costs while broadening their international footprint. Stablecoins represent a swifter and more affordable alternative to conventional card and wallet payments.
With cross-border digital transaction volumes on the rise, stablecoins are poised to drive the next wave of payment advancements.
With cross-border digital transaction volumes on the rise, stablecoins are poised to drive the next wave of payment advancements.
Check out: Paxos: digital gold and BUSD issuer
Paxos Stablecoin Payments supports instant conversion between USD and stablecoins like PYUSD, USDP, and USDC, streamlining processes such as payments, refunds, and payouts.
When making a payment, users can either convert their stablecoins into fiat currency, such as USD, or complete the transaction using their stablecoin balance directly.
Merchants can also process refunds by converting the fiat amount back into the original stablecoin and returning it to the customer’s wallet.
The solution offers support for PYUSD and USDP on Solana and Ethereum, as well as USDC on Ethereum, Solana, and Polygon.
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,expressed John Egan, Head of Crypto at Stripe.
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