Paxos launches stablecoin payments platform

Blockchain and tokenization infrastructure platform Paxos has announced the launch of a stablecoin payment platform. Stripe's Pay with Crypto product is supported 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 when receiving payments, expenses, and refunds. Users can choose to immediately convert to fiat currency and settle in local currency such as the US dollar, or directly pay the merchant with stablecoin balance. Merchants can issue refunds by immediately converting fiat currency back to the stablecoin originally used for the initial payment and sending it directly to the wallet used for the initial payment. This solution supports PYUSD and USDP through on-chain transfers on Solana and Ethereum networks, as well as USDC through Ethereum, Solana, and Polygon.