PayProtocol Builds Multichain Payments Infrastructure with Squid
PayProtocol is building a multichain payments infrastructure to allow digital assets from various blockchains, including USDC and RLUSD, to be used at Paycoin merchants.
The company has partnered with Squid, a cross-chain swap protocol, to link with the Paycoin mainnet and build this infrastructure.
The proof-of-concept will test a structure that enables payments at Paycoin merchants using USDC, ETH, RLUSD, and XRP without separate bridging or swaps. Final payment processing and settlement would take place on the Paycoin mainnet.
PayProtocol plans to expand support for payments and settlement across multiple digital assets by allowing merchants to receive settlement in their preferred asset, including a won-based stablecoin, USDT, USDC, or PCI, even when a user pays in USDC.