Worldpay to Offer Merchants Direct Settlement in USDC
(7 April 2022 - Global) Worldpay is set to offer merchants the ability to receive settlement directly in Circle's stablecoin USDC.
USDC is one of the fastest growing, regulated dollar digital currencies with more than $51 billion in circulation as of April 2022.
Under the agreement, Worldpay says it will enable both crypto-native and traditional businesses to build a settlement and treasury strategy that caters to their preferred currency for conducting business.
The company, which already provides merchant acquiring services for four of the top five cryptocurrency exchanges, has signed Crypto.com as a pilot customer for the USDC settlement proposition.
“Cryptocurrencies, for the most part, tend to be quite volatile and lack the ability to redeem at a predictable exchange rate in large quantities. That is why USDC is so popular among consumers who use crypto exchanges, and why it is so appealing to traditional merchants and other corporates,” says Nabil Manji, SVP, head of crypto and Web3 at Worldpay from FIS. “By making it easier and more efficient for crypto-native companies and other corporates to receive and manage stablecoins, this will further drive corporate innovation in payments and benefit the consumer ecosystem.”
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