Smartpay, established as a fintech leader since 2019 for stablecoin payments, has been acquired by Rezolve AI, a corporation focused on commerce technologies. This acquisition is indicative of the growing relationship between digital currencies and AI-driven commerce initiatives.
The deal was confirmed on Tuesday, yet financial specifics remain undisclosed. Rezolve aims to strengthen its payment services via digital assets in collaboration with Tether, the issuer of the USDT stablecoin.
In the past year ending September 30, Smartpay facilitated over 19 million transactions, equating to more than $1 billion in USDt value.
With operations extending through both Latin America and central Africa, Smartpay allows customers to perform transactions using stablecoins like USDt, whilst merchants receive payments in local currency promptly. This operational strategy effectively balances cryptocurrency functionalities with swift fiat conversion to reduce market fluctuations and ease user adoption.
Smartpay is positioned within a competitive landscape of cryptocurrency payment facilitators, alongside industry stalwarts such as BitPay and Coinbase Commerce.
The acquisition aligns with Rezolve’s vision to develop a blockchain-centric payments network designed for user-friendly digital asset transactions that also ensure quick fiat payment solutions for businesses.
“Smartpay provides Rezolve with a robust and reliable platform to enhance our global digital asset payments strategy,” stated Daniel M. Wagner, CEO of Rezolve AI.
Recent studies indicate that the intersection of payments and AI is crucial for driving the adoption of digital currencies, with these sectors paving the way for future advancements in blockchain technology. Notably, a recent collaboration between Google and Coinbase, known as the Agent Payments Protocol, exemplifies this trend by enabling AI systems to autonomously execute cryptocurrency transactions, primarily utilizing stablecoins.
Industry insights suggest that AI systems may emerge as significant users of stablecoins, driven by their demand for rapid and programmable payment solutions.
