Singapore-based HitPay has partnered with Triple-A, a licensed crypto payment solutions provider, to deliver stablecoin acceptance for SMEs.
The alliance is regulated by the Monetary Authority of Singapore (MAS) and enables HitPay merchants to accept stablecoin payments and receive settlements instantly via fiat currency, protecting them from digital currency volatility. Using HitPay’s expertise in merchant acquisition, checkout, and settlement, together with Tripe-A’s licensed crypto payment rails and instant conversion technology, the collaboration offers a compliant solution for businesses looking to tap into the growing digital currency market without the associated risks.
Supporting businesses in Singapore
Both firms are regulated under MAS, with HitPay as a Major Payment Institution (MPI) and Triple-A as an MPI offering digital payment token services. This ensures security, compliance, and enterprise-grade customer protection. The alliance comes as demand for digital currency payments from both consumers and merchants increases. This trend is also strong in Singapore, where a survey by Singapore Business Review concluded that six in 10 businesses have plans to start accepting crypto payments within the next two years.
Merchant interest is heightened by customer adoption, with local merchant services receiving almost USD 1 billion in crypto during Q2 2024. When it comes to global adoption, blockchain transaction volumes are expected to surpass USD 27 trillion in 2025, signalling a shift in global commerce.
Triple-A and HitPay contribute to helping merchants reach crypto-native and cross-border shoppers without the risk of volatility, backed by a fully regulated payments ecosystem. With HitPay’s network of 15,000 businesses, stablecoin acceptance can be switched on in minutes across ecommerce and in-store checkouts. As customers pay in stablecoins, Triple-A locks the rate and converts instantly to fiat, eliminating volatility, and HitPay settles and reconciles the payment. With this plan, the two companies are committed to improving stablecoin payments with simple, compliant, and convenient solutions for handling digital assets.
