#StablecoinPayments

WHY IT’S IMPORTANT

Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens. Proponents say that they could be used to send payments instantly, but it remains challenging to use stablecoins for everyday purchases because merchants typically don't accept payments in crypto.

Bridge - which was acquired by Stripe earlier this year - will work on the back-end of transactions that customers make with their linked Visa cards to deduct funds from a user's stablecoin balance and then will convert the payment into the local currency for merchants.

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