Paxos Launches Stablecoin Payment Platform

According to Odaily, blockchain and tokenization infrastructure platform Paxos has announced the launch of a stablecoin payment platform. This platform supports Stripe's Pay with Crypto product, facilitating merchants' acceptance of stablecoin payments. Paxos enables instant conversion between USD and stablecoins such as PYUSD, USDP, and USDC for received payments, expenditures, and refunds. Users have the option to either convert payments immediately into fiat currency for settlement in local currencies like USD or to pay merchants directly with their stablecoin balance. Merchants can issue refunds by converting fiat currency back into the initially used stablecoin and sending it directly to the wallet used in the original transaction. This solution supports on-chain transfers of PYUSD and USDP via the Solana and Ethereum networks, as well as USDC through Ethereum, Solana, and Polygon.