Bolt, payment and payment platform based in San Francisco, said on Friday that it added a care of Stablecoin payments, a decision aimed at rationalizing cross-border trade for markets and merchants using its network.
Addition is part of Bolt Connect, a new product focused on digital markets to evolve quickly by automating the integration of merchants, compliance and payments.
For merchants, receive stable payments to the appearance of banking intermediaries, faster regulations and faster transaction costs, the company explained the press release initiative. Consumers can also benefit from it: a buyer without bank account or purchases in a store around the world can pay instantly using digital dollars without incurring transaction fees abroad or while waiting for the credit card releases.
“The markets should not have to choose between scale and simplicity,” said Ryan Breslow, founder and CEO of Bolt. “With Bolt Connect, we give them the tools to develop without the usual technical burden, while the Stablecoin support opens the door to faster and borderless payments for everyone in the network.”
Bolt is the latest example of global payment companies such as Mastercard, Visa and Stripe Racing to adopt stablecoins, a type of digital currency with prices anchored to an external asset such as fiduciary currencies, in their offers. It is a class of assets of $ 260 billion and rapidly growing that promises programmable transactions and faster and cheaper cross -border payments than through traditional banking channels. Adoption should accelerate after the US Senate adopted the Act on Engineering to regulate the Stablescoin sector.
The Stablecoin initiative of Bolt came in the heels of its debut of financial “Superapp” which allows users to hold, send and receive cryptocurrencies, including stablecoins within the application.
