TechFlow news, October 15 — According to The Block, blockchain and tokenization infrastructure platform Paxos has launched a new stablecoin payment platform. Stripe’s "Pay with Crypto" product is the first service to adopt the platform, aiming to simplify the process for merchants accepting stablecoin payments.
The new Paxos platform enables instant conversion between U.S. dollars and stablecoins including PayPal's PYUSD, Circle's USDC, and Paxos' own USDP, applicable for receiving payments, disbursements, and refunds. The platform offers providers an end-to-end solution covering customer onboarding, payment collection, conversion, and payout, potentially helping businesses expand internationally and reduce costs.
John Egan, Head of Cryptocurrency at Stripe, said: "We're constantly looking for ways to make it easier and cheaper for businesses to accept payments from customers around the world. By partnering with Paxos, we're excited to offer users stablecoin payment options through our 'Pay with Crypto' product."
