Singapore-based digital payments provider dtcpay has partnered with BNB Chain to accelerate the real-world utilization of stablecoins, making payments with stablecoins more practical, accessible, and cost-effective for everyday transactions.
This collaboration will enable businesses using dtcpay to accept payments in stable currencies such as USDT and USDC via BNB Chain Networkincluding BNB Smart Chain and opBNB.
One of the main goals of this integration is to reduce transaction costs that often hinder wider adoption of cryptocurrencies.
BNB Chain’s low fees, which average $0.001 on opBNB and $0.03 on BSC per transaction, make it an attractive option for businesses and consumers, especially for small purchases.
dtcpay believes that this will encourage more companies to accept stablecoins, effectively bridging the gap between traditional finance and Web 3.0 technologies.
The partnership also provides BNB Chain access to dtcpay’s existing merchant network, which includes major retailers such as Capella Hotel Group and More than 35,000 locations in Singapore can be accessed through the unified NETS SGQR+ QR code system.
dtcpay already supports other popular blockchain networks such as Ethereum, Tron, and Polygon, and plans to expand its stablecoin offerings to include FDUSD and WUSD in the near future.
dtcpay’s commitment to making stablecoin payments more accessible is evident in its core solutions, which include:
Payments: dtcpay allows businesses to accept payments in stablecoins, providing a seamless experience for merchants and customers.
With the addition of BNB Chain, merchants can now access over 4.7 million daily active users (DAU) on opBNB and 1.12 million DAU on BSC, significantly expanding payment options.
wallet: The dtcpay Wallet app allows users to securely store, transfer and withdraw stablecoins and fiat currencies.
With BNB Chain integration, the wallet makes it easier for users to manage their stablecoins across multiple blockchain networks, giving them full control over their funds.
card: The dtcpay Visa Infinite card, scheduled to launch at the end of January 2025, supports multi-currency spending. Users can switch between stablecoins and fiat currencies and spend fiat currencies directly through the card.
The card is designed to act as a bridge between digital and traditional financial systems, providing a seamless way to use stablecoins for everyday purchases.
Andy Sze Toh, Head of Payments at dtcpay, said:
“Thanks to dtcpay’s payment solutions, businesses can now seamlessly send and accept payments in stablecoins such as USDT and USDC not only on Ethereum, Tron or Polygon, but also on the BNB Chain, allowing for easy conversion of stablecoins into fiat currencies.
By integrating BNB Chain into our payment solutions, dtcpay enables businesses to accept stablecoin payments without the complexities that traditionally come with transacting in digital assets.
Sarah S., Head of Business Development at BNB Chain, said:
“We are pleased to collaborate with dtcpay to simplify and expand the use of stablecoins, integrate cryptocurrencies into everyday life and advance BNB Chain’s goal of promoting widespread adoption of Web 3.0.”
Featured image credit: Modified from Freebec
