In a significant development for the cryptocurrency payments landscape, crypto payments startup Mesh is set to roll out Apple Pay support for crypto transactions. This innovation will enable consumers to pay using digital assets while allowing merchants to settle transactions in stablecoins.
This feature, which was unveiled during the Token2049 conference in Dubai, utilizes Mesh’s proprietary SmartFunding technology to convert cryptocurrency to stablecoins at the point of sale. By doing so, it eliminates the necessity for merchants to handle cryptocurrencies directly, proposing a streamlined and user-friendly payment solution that integrates seamlessly with Apple Pay.
This approach means that traditional brick-and-mortar retailers, as well as online shops, can accept cryptocurrency payments without the burden of developing specialized infrastructure. Mesh is gearing up to launch this feature later in the second quarter of the year, marking a pivotal moment for businesses looking to explore the benefits of digital currencies.
“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,” stated Bam Azizi, CEO and co-founder of Mesh. This sentiment underscores the growing belief in the potential of blockchain technology to transform the payments industry.
Stablecoins, which are cryptocurrency tokens pegged to traditional currency values, are becoming increasingly crucial for transactions. They offer a faster and more cost-effective alternative to conventional payment methods, experiencing rapid adoption in areas such as remittances, payroll, and commerce. Prominent firms like Stripe are actively exploring the stablecoin space following their acquisition of Bridge, while PayPal has also launched its own stablecoin, reflecting a broader trend toward embracing blockchain technology in everyday transactions.
Earlier this year, Mesh successfully raised $82 million to further expand its stablecoin-based payment settlement network on a global scale, reinforcing its commitment to leading the way in the evolving environment of digital payments.
