Paxos Launches Stablecoin Payment Platform

Blockchain and tokenized infrastructure platform Paxos has announced the launch of a stablecoin payment platform. Stripe's Pay with Crypto product is powered by Paxos' stablecoin payment infrastructure, making it easier for merchants to accept stablecoin payments. Paxos supports instant conversion between USD and PYUSD, USDP, and USDC upon receipt of payments, payouts, and refunds.
Users can choose whether to immediately convert to fiat currency and settle in local currencies such as USD, or pay the stablecoin balance directly to the merchant. Merchants can issue refunds by immediately converting fiat currency into the stablecoin initially used and then sending it directly to the wallet used in the initial payment. The solution supports PYUSD and USDP through on-chain transfers from Solana and the Ethereum network, as well as USDC through Ethereum, Solana and Polygon.