Bitpace Bolsters Cross-Border Stablecoin Payments with Fireblocks Integration
London-based payment gateway Bitpace has enhanced its cross-border stablecoin settlement capabilities through an integration with Fireblocks, a New York-based infrastructure provider. This partnership allows merchants and businesses to send and receive payments in stablecoins like USDC without relying on the slow correspondent banking system.
Bitpace's core product supports transactions across over 70 tokens, including automatic conversion into fiat currencies or stablecoins. The company claims monthly transaction volumes exceeding $1 billion, indicating a significant need for efficient cross-border payment solutions.
The integration with Fireblocks brings institutional-grade custody and payments network capabilities to Bitpace. This access is built on multi-party computation (MPC) security, which splits private keys across multiple parties to prevent single-point failures. The partnership aims to reduce the fees associated with traditional cross-border payments, which can range from 1.5% to 6% of the transaction value.