Bolt Introduces Stablecoin Payments to Enhance Cross-Border Commerce
Bolt, a San Francisco-based payments platform, has introduced support for stablecoin payments to enhance cross-border commerce for its merchants. This feature is part of Bolt Connect, which automates merchant onboarding, compliance, and payouts.
Key points include:
- Merchants benefit from fewer intermediaries, faster settlements, and reduced transaction costs.
- Consumers can make instant payments globally without bank accounts or foreign transaction fees.
- Bolt aims to simplify growth for marketplaces while enabling quicker, borderless payments.
- This aligns with trends among global payment firms like Mastercard, Visa, and Stripe adopting stablecoins, a sector valued at $260 billion.
- Regulatory developments, such as the U.S. Senate passing the GENIUS Act, are expected to boost stablecoin adoption.
- Bolt recently launched a financial "SuperApp" for holding and transferring cryptocurrencies, including stablecoins.