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Financial technology firm FIS has partnered with payments provider Circle to enable merchants to receive settlements directly in USD Coin.
Source: Circle
USDC is up 0.04%.
Under the partnership, Worldpay will become the first global merchant acquirer which provides merchants the capacity to receive settlements in the form of USDC. The stablecoin is designed to track the value of the dollar at $1.
The partnership seeks to boost the adoption of cryptocurrencies to directly receive, hold, and transfer stablecoins quickly and efficiently. Cryptocurrency platform Crypto.com will serve as the pilot customer for the settlement proposal.
Circle said the partnership will allow traditional merchants and corporates to “enter and experiment” with digital tokens in a “less volatile and lower-touch” environment, adding that it is a “glimpse” into the future.
USDC is currently the second-biggest stablecoin in terms of market capitalization, with over $51 billion.
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