DIGITAL ASSETS
These companies are betting that merchants will choose blockchainbased settlement over card networks if the cost difference is significant enough.
USDC, the stablecoin issued by Circle, backs each token with cash and shortterm government securities, maintaining a one-to-one ratio with the US dollar.
Payment providers use USDC and similar tokens to move money between parties without touching traditional banking infrastructure, which means fewer intermediaries taking cuts and faster settlement times.
Klarna says it will announce more cryptocurrency partnerships as it builds out its digital asset strategy.
“We can challenge old networks and make payments faster and cheaper for everyone”
Sebastian Siemiatkowski, Co-founder and CEO Klarna fintechmagazine. com 65