{"id":12634,"date":"2022-06-08T18:54:01","date_gmt":"2022-06-08T18:54:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/checkout-com-reveals-merchants-can-accept-and-make-payments-in-usdc-bitcoin-news\/"},"modified":"2022-06-08T18:54:01","modified_gmt":"2022-06-08T18:54:01","slug":"checkout-com-reveals-merchants-can-accept-and-make-payments-in-usdc-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/checkout-com-reveals-merchants-can-accept-and-make-payments-in-usdc-bitcoin-news\/","title":{"rendered":"Checkout.com Reveals Merchants Can Accept and Make Payments in USDC \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Tuesday, the financial technology company Checkout.com announced that it will allow merchant settlements using the stablecoin USDC via a partnership with the crypto firm Fireblocks. Checkout.com further detailed that in a beta test with select clients, the company settled $300 million in transaction volume leveraging the USDC stablecoin.<\/strong><\/p>\n

Checkout.com Leverages the Stablecoin USDC<\/h2>\n

Checkout.com<\/a> has announced it will be utilizing USDC for merchant settlements. The company, founded in 2009 by Guillaume Pousaz, said it will allow businesses to make payments in, and accept, Circle\u2019s stablecoin usd coin (USDC)<\/a>. Checkout.com\u2019s new stablecoin settlement service is through a partnership with the firm Fireblocks<\/a>, a crypto custody service provider that just launched<\/a> an institutional suite of Web3 services.<\/p>\n

On the same day as the Checkout.com announcement, Coins.ph partnered with Fireblocks and revealed the fiat and crypto wallet service provider will integrate Fireblocks\u2019 custody management into Coins.ph\u2019s platform. Ran Goldi, Fireblocks\u2019 vice president of payments, explained that Checkout.com\u2019s new USDC<\/a> payment service will allow much faster settlement times and during non-banking hours.<\/p>\n

\u201cTraditionally, merchant payouts are limited to 9-5 on weekdays excluding public holidays and are further delayed through batch processing over several business days,\u201d Goldi said<\/a> in a statement on Tuesday. \u201cCheckout.com\u2019s weekend settlement means that merchants are no longer restricted by arbitrary settlement times.\u201d<\/p>\n

The announcement further notes that select Checkout.com customers already tested the new USDC feature in a beta version of the service. \u201cDuring the beta, Checkout.com successfully tested, refined and optimized ways for customers\u2019 online fiat transactions to be paid to merchants through USDC,\u201d the company\u2019s announcement details. Jess Houlgrave, the head of crypto strategy at Checkout.com, believes stablecoins<\/a> offer a variety of benefits.<\/p>\n

\u201cStablecoins started as a fiat-denominated asset used by crypto traders to easily move in and out of more volatile crypto assets, but we believe they will also play a fundamental role in improving the underlying payment landscape,\u201d Houlgrave explained. \u201cThe fact that we\u2019re the first full-stack payments provider to successfully pilot an end-to-end solution with weekend merchant-side settlement capability is testament to our commitment to crypto.\u201d<\/p>\n

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beta test<\/a>, checkout.com<\/a>, Checkout.com crypto<\/a>, Circle<\/a>, Coins.ph<\/a>, crypto custody service provider<\/a>, Fireblocks<\/a>, Fireblocks Services<\/a>, institutional Web3 services<\/a>, Jess Houlgrave<\/a>, Ran Goldi<\/a>, select customers<\/a>, Stablecoin payments<\/a>, Stablecoins<\/a>, usd coin<\/a>, USDC<\/a>, USDC test<\/a>, weekend settlement<\/a><\/div>\n<\/div>\n

What do you think about Checkout.com using USDC for settlement services? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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