Merchant services and payment processing platform Worldpay has added a new feature to enable merchants to receive payments in USDC stablecoin.
The platform, owned by FIS Corporation, will allow crypto-based enterprises and conventional businesses to create a treasury and settlement strategy in multiple currencies.
The two firms expect the deal to increase the adoption of cryptocurrencies by businesses through the less volatile stablecoins.
Cryptocurrency exchange Crypto.com will be a pilot customer for the USDC settlement proposition by Worldpay.
The head of Crypto and Web3 at Worldpay maintains that stablecoins are gaining popularity among merchants due to low volatility in the crypto space.
USDC issuer Circle recently partnered with BNY Mellon in a custody deal for the reserves backing the digital asset.
Worldpay is a card-to-crypto processor from FIS servicing 4 of the top 5 cryptocurrency exchanges. FIS settles more than $2 trillion in transactions annually in over 100 countries through multiple currencies.
USDC is the second-largest stablecoin by market capitalization, with more than $51 billion.
Source: Circle