Paxos Launches Stablecoin Payments Platform

Paxos, a blockchain and tokenization infrastructure platform, has introduced a stablecoin payments platform that powers Stripe's new Pay with Crypto product, enabling easier stablecoin acceptance for merchants.

Stripe's Perspective

> "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," said John Egan, Stripe's Head of Crypto.

Paxos Platform Features

Paxos' stablecoin payments platform provides a complete solution stack for onboarding, pay-ins, conversions, and pay-outs. This allows businesses to enhance their international reach and lower costs by adopting a faster, more cost-effective alternative to traditional cards and payment wallets.

• Supported Stablecoins: Instant conversions between USD, PayPal's PYUSD, Circle's USDC, and Paxos’ USDP are available for received payments, payouts, and refunds. Users have the option to convert stablecoin payments to fiat instantly or pay out stablecoin balances directly to merchants. Merchants can refund by converting fiat into the original stablecoin used for the payment.

Future of Payments

Ronak Daya, Paxos' Head of Product, stated, "Stablecoins are the future of payments and money movement," emphasizing that their utility and adoption will grow as businesses realize the advantages of stablecoins for instant, safe, and cost-effective global settlements.

The guidance to the enterprises includes: onboarding clients, powering pay-ins and payouts, and facilitating global money transfers.

Blockchain Compatibility

PYUSD and USDP are supported on Solana and Ethereum, while USDC is available on multiple chains including Ethereum, Solana, and Polygon.