Blockchain-enabled B2B payments network Paystand has announced that it has acquired Bitwage, with the deal being directed towards scaling its stablecoin capabilities.
Through this transaction, Paystand is set to be able to provide enterprise-grade stablecoin settlement and FX across its network, which, according to company data, has processed over USD 20 billion in payment volume for enterprises and businesses globally.
The deal comes just after several other companies have decided to advance their position in the industry. For example, Stripe acquired Bridge for USD 1.1 billion while Ripple entered into a USD 1 billion deal with GTreasury. Moreover, BNVK was working on a USD 2.5 billion stablecoin infrastructure agreement with Mastercard and Coinbase. The increase in such moves can be associated with emerging regulatory clarity across the world, with the US, the UK, Europe, and Asia working on scaling confidence in the acceptance of the digital currency.
Upcoming offering from Paystand and Bitwage
As part of the strategic deal, Bitwage is set to bring Paystand several additional capabilities, with the combined company planning to provide:
- Global payables on stablecoin rails, with Bitwage integrating an API-first, compliance-tested payout engine supporting USDC, USDT, BTC, ETH, and local currencies across approximately 200 countries, with the solution now being embedded into Paystand’s AR/AP network for efficient, cost-effective cross-border settlement;
- 24/7 stablecoin settlement enabling CFOs to move liquidity between entities and regions while benefiting from automated reconciliation on-chain;
- Enterprise governance while meeting regulatory requirements, as services are designed to fall in line with GENIUS Act demands in the US and global standards;
- Unified network for both sides of the ledger, with Bitwage extending Paystand’s receivables and payables network to mass payouts, FX and vendor and supplier payments, thus working on linking order-to-cash and procure-to-pay in one programmable platform.
Furthermore, according to the official press release, integrations are set to start immediately for select enterprise customers, while a broader launch is planned by corridor and currency. The combined company will support fiat interoperability and offer treasury controls to match corporate risk policies.
