Payments infrastructure service Worldpay announced on Wednesday that it will offer merchants the ability to receive settlement directly in the stablecoin USDC.
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In partnership with Circle, the move will let both crypto-native and traditional businesses build stablecoin settlement into their offerings, Worldpay’s parent company FIS said in a release. Crypto.com will act as a pilot customer.
For traditional merchants and other corporates, the ability to receive settlement in stablecoins can help drive adoption of digital assets by enabling them to experiment with cryptocurrency in a less volatile and lower-touch environment, FIS said.
FIS processes over $2 trillion in transactions annually across more than 100 countries in numerous payment types and currencies.
Jeremy Allaire, co-founder and CEO of Circle, said the partnership is a “glimpse into a future where value is exchanged frictionlessly.”
The move highlights a growing appetite for connections between fiat and crypto-native payment systems. Last year, Visa became the first major payments service to roll out settlement on Ethereum for USDC payments.
Last week, MoonPay announced a partnership with OpenSea to enable users to buy NFTs with a credit card, having launched the plug-and-play service in January.
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