KEY POINTS
  • Checkout.com said it will let settle payments in the stablecoin USDC through a partnership with crypto security firm Fireblocks.
  • The $40 billion start-up is the latest major financial institution jumping into crypto; rival payments group Stripe launched a similar feature earlier this year.
  • Regulators have gotten worried about stablecoins after the collapse of UST, a token that aimed to maintain a $1 peg using code rather than a reserve of assets.

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The logo for payments start-up Checkout.com.

AMSTERDAM — Online payments company Checkout.com says it will settle payments for its merchants round-the-clock using stablecoins, making it the last major financial services firm taking the plunge into crypto.

The start-up, which competes with the likes of PayPal and Stripe, said Tuesday it is launching a feature that allows businesses to accept and make payments in USD Coin, a popular stablecoin that's pegged to the U.S. dollar. Checkout.com said it is offering the new payment method through a partnership with Fireblocks, a crypto security firm.

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