Checkout.com, a platform for international payments, has added support for fiat processing and payouts for eight out of twelve of the world's largest crypto exchanges, including Blockchain.com, Binance and Crypto.com.
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The company said in a blog post that with stablecoins, merchants will get support for 24/7 settlements, including weekends and holidays. All the crypto-related services are based on Fireblocks' technology, which Checkout.com said to have tested over a six-month pilot.
"During this pilot, we've facilitated settlement of over $300 million using USDC and have tested, refined and optimized ways for customers' online fiat transactions to be paid to merchants through USDC."
Jess Houlgrave, Head of Crypto Strategy at Checkout.com, said that with stablecoins merchants could remove "points of friction and bottlenecks," allowing clients to get access to capital faster.
The move comes after MoneyGram, one of the largest money transfer providers in the world, partnered with Stellar for a new service that would allow users to send and convert stablecoins into fiat money.
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