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Smartpay Joins Rezolve AI in $1 Billion Stablecoin Payment Expansion

Key Takeaways

  • Rezolve AI has acquired Smartpay to strengthen its digital payment tools and expand its partnership with stablecoin issuer Tether;
  • Smartpay lets users pay with stablecoins like USDT, while businesses get local currency, which reduces crypto price risks;
  • With over $1 billion in transactions, Smartpay’s experience will help Rezolve grow stablecoin payment systems in global markets.​

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Smartpay Joins Rezolve AI in $1 Billion Stablecoin Payment Expansion

Rezolve AI, a publicly traded company focused on artificial intelligence (AI) powered commerce tools, has acquired Smartpay, a financial technology firm that enables businesses to accept payments in stablecoins.

The announcement was made on October 7. Although the purchase amount was not revealed, Rezolve stated that the deal would support its ongoing work with Tether USDT $0.9993 .

They aim to improve digital payment options that allow customers to use digital tokens while businesses continue to receive payments in local currencies.

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Smartpay allows users to pay in stablecoins like USDT, but the companies they buy from still receive payment in regular local currency. This setup protects both buyers and sellers from price changes in cryptocurrencies while still offering the benefits of digital asset payments.

The company has processed over 19 million transactions for more than a year. The total value of these transactions was over $1 billion in USDT.

Smartpay operates mainly in Latin America and central Africa. In these regions, people often opt to pay using stablecoins due to local currency instability.

Rezolve plans to use Smartpay’s technology and experience to grow its payment services. It aims to create a system that allows people to pay with digital money and businesses to receive traditional currency immediately.

Rezolve CEO Daniel M. Wagner said in the announcement that Smartpay gives them a working system they can expand globally as they develop their digital asset payments plan.

Meanwhile, Franklin Templeton is partnering with Binance to develop blockchain-based versions of traditional financial products. What is the goal of this collaboration? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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