Paxos Rolls Out a New Stablecoin Payment Platform

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Paxos, the company behind the Pax Dollar stablecoin, is striving to advance the use of stablecoins in the payments industry by introducing a high-quality infrastructure.

This new platform has been specifically designed to cater to payment service providers (PSP) and fintech companies looking to incorporate stablecoin payments.

On October 15, Paxos announced that Stripe, a global payment processing company, will be the first PSP to integrate Paxos’ infrastructure into its system.

This means that Stripe’s Pay with Crypto feature will now support stablecoin payments that can settle in fiat currencies like the US dollar.

Paxos’ infrastructure comes with an application programming interface (API) that is aimed at facilitating faster and more cost-efficient global payments compared to traditional methods of payment.