What You Need to Know
- Mesh is introducing support for Apple Pay to facilitate crypto transactions, converting digital assets into stablecoins at checkout.
- This feature is set to launch soon and will simplify how retailers accept crypto without needing to manage cryptocurrency directly.
- The use of stablecoins is increasing as they become a significant component in promoting real-world crypto adoption.
Crypto payments startup Mesh is gearing up to integrate Apple Pay for transactions involving cryptocurrencies, enabling consumers to utilize digital currencies while merchants will receive payments in stablecoins. This feature was announced at Token2049 in Dubai. By employing Mesh’s SmartFunding technology, the process will transform crypto into stablecoins at the point of sale. Merchants will not need to handle cryptocurrencies directly, delivering a user-friendly experience through Apple Pay’s platform.
Physical and online retailers can now accept cryptocurrency payments without requiring comprehensive infrastructure. The rollout is expected later in this quarter.
Bam Azizi, the CEO and co-founder of Mesh, stated, “We believe that as soon as crypto payments are as seamless as fiat payments, nothing is left to stop the mass migration of global commerce onto blockchain rails.”
Stablecoins, pegged to traditional currencies, are becoming increasingly critical in payments, providing expedited and cost-effective solutions compared to traditional methods. Notable developments include payments giant Stripe testing a stablecoin application after acquiring Bridge, along with PayPal launching its own stablecoin. Earlier this year, Mesh secured $82 million to broaden its stablecoin payment settlement network worldwide.
