Stablecoin payments infrastructure firm BVNK has introduced an embedded wallet designed to unify fiat and stablecoin payments on a global scale.
This wallet seamlessly integrates fiat, cryptocurrency, and stablecoin transactions, offering direct access to major blockchains and various local and international payment systems, such as Swift, ACH, Fedwire, Sepa, FPS, Solana, Tron, Polygon, Ethereum, BNB Smartchain, Bitcoin, and Cardano.
The solution includes an API that allows fintech companies, crypto applications, payment service providers, marketplaces, and payroll platforms to embed the wallet into their services. This functionality enables these businesses to provide their customers with the option to store, spend, and receive payments in both stablecoins and fiat currencies, along with the capability to convert between balances automatically or on-demand.
With auto-conversion features, companies no longer need to hold cryptocurrencies on their balance sheets; stablecoins can be automatically converted to fiat upon receipt, while fiat funds can be transformed into stablecoins during payouts.
Simon Griffin, chief product officer of BVNK, stated, “Stablecoins are redefining how we transfer value around the world, enabling 24/7/365 accelerated global payments. However, they’re not suitable for every scenario, and the transition between traditional currencies and stablecoins poses challenges. With our embedded wallet, we’re making stablecoin, crypto, and fiat payment options interoperable, offering our customers genuine payment flexibility.”