Crypto Payments Startup Mesh plans to scroll Apple Pay Support for Crypto Transactions, allowing shoppers to pay with digital assets while running transactions in stableecoins for Merchants.
The feature, which was revealed during Token2049 in Dubai, converts crypto to stableecoins at checkout using Mesh’s proprietary Smartfunding technology. The system separates the need for merchants to handle crypto directly and offers what Mesh calls a “plug-and-play” payment option through Apple Pay’s interface.
In this way, brick-and-mortar dealers and webshops can accept crypto payments without the need to build the necessary infrastructure. Mesh plans to launch the feature later in the second quarter of the year.
“We believe that as soon as crypto payments are as seamless as Fiat payments, there is nothing left to stop the mass migration of global trade on blockchain rails,” said BAM Azizi, CEO and co-founder of Mesh.
Blockchain rails and stableecoins, which are crypto -tokens, associated with the value of traditional currencies, have become more and more central to payments. They offer faster, cheaper alternative to traditional channels and grow quickly to transfers, payroll and trading. Payments Giant Stripe tests a stableecoin tool after its acquisition of bridge, while PayPal launched its own stablecoin.
Mesh raised $ 82 million earlier this year to expand its stablecoin-based payments for settlement networks globally.