Stripe works with Paxos to start a StableCoin payment platform

• Stripe works with Paxos to start a stable coin payment platform.
• The platform from Paxos supports Pyusd, USDC and USDP for immediate conversions.
• The aim of the initiative is to reduce costs and to expand the global range of companies.

Stripe has taken an important step to improve global payment solutions through the partnership with Paxos, a blockchain and token-infrastructure platform in order to integrate the new StableCoin payment platform from Paxos into its product "Pay with Crypto".

The aim of this cooperation is to simplify the process for companies when accepting stable coin payments and to offer a more efficient and inexpensive alternative to conventional payment methods.

companies make it easier for companies to trade with stable coins

The newly introduced StableCoin payment platform from Paxos offers a comprehensive stack of solution for onboarding, deposits, conversions and payments.

By using this platform, Stripe enables companies to receive payments in stablecoins and to convert them immediately into Fiat currency or vice versa. This approach enables traders to quickly process transactions, to reduce the costs for payment processing and to expand their international reach by opening up a broader customer base.

The platform supports conversions between USD and various stable coins, including Pyusd from PayPal, USDC from Circle and USDP from Paxos. PYUSD and USDP are compatible with both Solana and Ethereum networks, while USDC can be used on Ethereum, Solana, Polygon and other chains. This wide range of blockchain support offers companies and their customers the flexibility to select the most suitable network for their transactions.

John Egan, Head of Crypto at Stripe, emphasized the importance of this partnership and explained: "We are always looking for ways to make it easier and cheaper to accept payments from your customers worldwide." Through the partnership with Paxos, we look forward to enabling our users with our Pay with Crypto product StableCoin payments. ”

Ronak Daya, product manager at Paxos, expressed itself optimistically with regard to the future of stable coin payments and described it as a revolutionary progress in the global money movement. "Acceptance and benefits will continue to increase, since companies recognize how stable coins enable immediate, safe and inexpensive processing worldwide; all significant improvements compared to conventional payment rails," said Daya.

The partnership between Stripe and Paxos represents an important milestone in the development of digital payment transactions, since companies are increasingly looking for innovative opportunities to handle global transactions and reduce the dependency on traditional payment methods.