Smartpay, a fintech infrastructure firm identified for enabling stablecoin-based funds since 2019, has been acquired by Rezolve AI, a publicly listed commerce platform, in a deal that underscores the accelerating convergence between digital property and AI-driven e-commerce.
The acquisition was introduced on Tuesday, although no monetary phrases have been disclosed. Rezolve mentioned the transfer will bolster its digital asset fee initiative in partnership with Tether, the issuer of the USDt (USDT) stablecoin.
In keeping with the announcement, Smartpay processed greater than 19 million business transactions over the 12 months ending Sept. 30, representing over $1 billion in USDt worth.
Working throughout Latin America and central Africa, Smartpay allows shoppers to make funds utilizing stablecoins reminiscent of USDt, whereas retailers usually obtain settlement in native fiat forex. The corporate’s mannequin combines crypto fee performance with immediate fiat conversion to mitigate volatility and simplify adoption.
Smartpay operates in a broader market of crypto service provider fee companies, together with main gamers reminiscent of BitPay, the oldest crypto fee processor, and Coinbase Commerce.
Supply: Rezolve AI
The acquisition helps Rezolve’s plan to construct a blockchain-based funds community that lets shoppers pay with digital property whereas sustaining immediate fiat transactions for retailers.
“Smartpay provides Rezolve a confirmed, transaction-tested basis to scale our digital asset fee initiative globally,” Rezolve AI CEO Daniel M. Wagner mentioned in an announcement.
Supply: Cointelegraph
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Funds, AI spur crypto adoption
The usage of cryptocurrencies for funds has lengthy been seen as each a key use case and a significant bottleneck in blockchain adoption. Now, a brand new examine by Reown and YouGov means that funds and AI have gotten the 2 major drivers of crypto’s subsequent section of development.
Reown CEO Jess Hougrave mentioned the findings mirror a rising recognition that funds and AI each remedy methods to make crypto helpful and trusted, by embedding digital property into on a regular basis transactions and clever programs.
This intersection is gaining traction throughout the trade. Google’s Agent Funds Protocol, introduced in partnership with Coinbase, allows AI brokers to autonomously provoke crypto transactions, primarily utilizing stablecoins. The collaboration highlights the growing synergy between AI applied sciences and blockchain-based fee infrastructure.
Trade leaders have echoed this sentiment. As Cointelegraph reported, Galaxy Digital CEO Mike Novogratz predicted that AI brokers will change into the biggest future customers of stablecoins, given their want for quick, programmable and borderless digital funds.
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