Fireblock Boosts Payments Push Via Checkout.com USDC Settlement

The mass crypto adoption is going great these days and there are various events taking place in the crypto space that promote adoption. Check out the latest reports in this direction below.

It’s been just revealed that Checkout.com will now be able to offer merchants instant fiat-to-stablecoin conversion for customer payments by using Fireblocks’ crypto payment tech, according to a statement that has been released on Tuesday.

For crypto custodian Fireblocks, the expansion into payments comes after the company acquired First Digital.

This is a payments technology firm focused on making crypto and stablecoin usage compatible with merchants and cross-border use cases.

The deal was part of a plan to assist Fireblocks in expanding support for business-to-consumer payments using USD coin (USDC), celo and other stablecoins and cryptocurrencies.

“Traditionally, merchant payouts are limited to 9-5 on weekdays excluding public holidays and are further delayed through batch processing over several business days,” said Ran Goldi, Fireblocks vice president of payments.

He continued and stated the following:

“Checkout.com’s weekend settlement means that merchants are no longer restricted by arbitrary settlement times.”

Earlier today, we revealed that via the latest Digital Asset Fund Flows Weekly report, CoinShares found that Bitcoin saw total inflows of $126 million last week, bringing its total inflows to $506 million on the year.

CoinShares said that Bitcoin’s dominance of last week’s institutional attention stems from investors looking for a safe haven in the flagship crypto asset.

“Altcoins saw virtually no inflows last week, highlighting investors are flocking to the relative safety of Bitcoin.”

It’s also worth noting the fact that the crypto asset manager also says that Ethereum (ETH) is no exception to the trend.

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $29,596.