Checkout.com Unveils Stablecoin Settlement Solution Powered by Fireblocks

Checkout.com unveiled yesterday its stablecoin settlement solution, leveraging Fireblocks’ new crypto payment technology. This offers merchants the flexibility of 24/7 settlement including weekends and holidays — increasing access to cashflow and significantly reducing operational complexity. Checkout.com is the first PSP to have access to Fireblocks’ crypto payouts technology. With this access, Checkout.com is also the first to successfully deploy automatic fiat to stablecoin conversion for their merchants as they receive and process funds from customers.

During the beta, Checkout.com successfully tested, refined and optimized ways for customers’ online fiat transactions to be paid to merchants through USDC. 

In addition, Checkout.com’s integration with Fireblocks marks the crypto technology provider’s expansion into the payments space following the acquisition of First Digital earlier this year. Fireblocks’ new crypto payment technology is only available to select PSPs with additional payment capabilities and tools for business to be unveiled later this year. Checkout.com is among the early PSP partners to deploy this new technology. 

“At Fireblocks, we believe that every business will become a digital assets business with the advent of Web3,” said Ran Goldi, Vice President of Payments at Fireblocks. “Traditionally, merchant payouts are limited to 9-5 on weekdays excluding public holidays and are further delayed through batch processing over several business days. Checkout.com’s weekend settlement means that merchants are no longer restricted by arbitrary settlement times. With our in-house team’s deep knowledge and expertise in digital asset payments, Fireblocks looks forward to our continued collaboration with Checkout.com to bring even more game-changing solutions to the payments space.”

At the start, Checkout.com’s stablecoin settlement supports USDC with plans to expand to a wider range of assets over time.