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Checkout.com Reveals Merchants Can Accept and Make Payments in USDC

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On Tuesday, financial technology company Checkout.com announced that it will allow trading settlements to use the USDC stablecoin in partnership with crypto firm Fireblocks. Checkout.com also clarified that during beta testing with selected customers, the company completed a $300 million transaction using the USDC stablecoin.

Checkout.com uses the USDC stablecoin

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checkout.com announced that it will use USDC for trading settlements. The company, founded in 2009 by Guillaume Pouzat, said it would allow businesses to make payments and accept Circle’s stablecoins. US dollar (USDC). Checkout.com’s new stablecoin settlement service is being delivered through a partnership with the firm. fire blocksa cryptocurrency custodian service provider that just launched the Web3 Institutional Service Package.

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On the same day that Checkout.com was announced, Coins.ph partnered with Fireblocks and announced that the fiat and cryptocurrency wallet service provider will integrate Fireblocks storage management into the Coins.ph platform. Ran Goldie, Fireblocks VP of Payments, explained that the new Checkout.com USDC the payment service will significantly reduce the time of settlements during non-working hours.

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“Traditionally, merchant payouts are limited to 9-5 weekdays, excluding public holidays, and are further delayed due to batch processing over several business days.” — Goldi. said in a statement on Tuesday. “Checkout.com’s weekend settlement means merchants are no longer constrained by arbitrary settlement times.”

The announcement also notes that some Checkout.com customers have already tested the new USDC feature in the beta version of the service. “During beta testing, Checkout.com successfully tested, improved, and optimized how customers pay online fiat transactions to merchants via USDC,” the company said in a statement. Jess Holgrave, head of crypto strategy at Checkout.com, believes that stablecoins offer many benefits.

“Stablecoins started out as a fiat-denominated asset used by crypto traders to easily enter and exit more volatile crypto assets, but we believe they will also play a fundamental role in improving the underlying payment system,” Holgrave explained. “Being the first end-to-end payment provider to successfully pilot an end-to-end solution with merchant-side settlement over the weekend is a testament to our commitment to crypto.”

What do you think about Checkout.com using USDC for checkout services? Let us know what you think about it in the comments section below.

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Credit : news.bitcoin.com

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