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Mesh, a crypto payments company, announced a plan to introduce a new system supporting digital asset transactions via Apple Pay. In this system, customers can pay using cryptocurrencies while merchants can settle transactions in stablecoins. This initiative aims to facilitate the use of crypto assets in shopping, reaching a broader audience.
Paying with Cryptocurrency
Introduced at the Token2049 event in Dubai, this feature enables cryptocurrencies to be converted into stablecoins at the time of payment. Developed by Mesh, SmartFunding technology automatically converts crypto assets into stablecoins during the payment process. This innovation offers a solution that can be easily integrated into transactions without the need for traditional infrastructure.
Retail businesses and online sales platforms seeking alternatives to conventional payment systems can adopt Mesh’s system to accept payments in crypto assets. This technology is viewed as an opportunity to reduce infrastructure costs in both physical stores and online shopping. Developers indicate that the rapid global dissemination of the system could significantly contribute to the transformation process in shopping with crypto.
“When crypto payments become as seamless as fiat payments, global commerce’s transition to blockchain infrastructure will face no obstacles.” – Bam Azizi
Expanding in the Global Market
Mesh’s CEO, Bam Azizi, highlighted the role of technology in the future and its importance in the adoption of crypto assets in the business world. The latest steps are said to be pivotal for the widespread use of the system.
Blockchain infrastructure and stablecoins aim to offer faster and more economical solutions for payment transactions. These crypto assets can serve as alternative avenues for international money transfers, salary payments, and commercial transactions. Leading firms in payment technology like Stripe and PayPal are working on similar process improvements.
Mesh has secured $82 million in funding to implement this technology on a global scale. This investment is expected to play a significant role in applying the system to broader areas and enhancing the technological infrastructure. The planned launch with Apple Pay integration is anticipated in the second quarter of the year.
The developed system can pave the way for more businesses in the digital economy to adopt innovative payment methods. This solution, offered alongside existing infrastructure, aims to provide advantages such as reduced transaction costs and increased speed. The widespread adoption of the technology could contribute to embracing alternative payment methods in global trade.
