The leading global payment processor Checkout.com unveils stablecoin settlement solution that incorporates Fireblocks’ latest crypto payment technology.
According to the announcement, this solution allows merchants to settle payments at any time meaning also on weekends and holidays aside from the business hours, thereby enhancing cashflow access and decreasing operational complexity.
Through its private stablecoins settlement beta program, Checkout.com has handled the settlement of over $300 million in USDC. It is the first PSP to use Fireblocks’ crypto payment technology.
Checkout.com was also the first to successfully implement automatic fiat to stablecoin conversion for their merchants as they receive and process client funds via its beta program.
Checkout.com’s collaboration with Fireblocks signals the latter’s entry into the payments market.
Fireblocks’ latest crypto payment solution is now only available to a small number of PSPs, with more payment capabilities and business tools expected later this year.
Also Read: FIS and Fireblocks to Bring Crypto Services to its Global Clients
The stablecoin settlement on Checkout.com now supports only USDC, with intentions to expand to a larger range of assets in the near future. Its pilot initiative includes multiple crypto exchanges with plans to expand with FTX at the frontline.
Ran Goldi, Vice President of Payments at Fireblocks stated “Checkout.com’s weekend settlement means that merchants are no longer restricted by arbitrary settlement times. With our in-house team’s deep knowledge and expertise in digital asset payments, Fireblocks looks forward to our continued collaboration with Checkout.com to bring even more game-changing solutions to the payments space.”
