Stablecoin payments have been unleashed for Taxbit customers, thanks to a recent partnership with Mural Pay.
Stablecoins Revolutionize Global Payments
The world of digital payments is witnessing a significant shift, with stablecoins emerging as a game-changer in the global market. This transformation is characterized by rapid growth, expanding use cases, and evolving infrastructure that enable faster, cheaper, and more transparent cross-border payments.
Despite stablecoins representing a small fraction of global money flows, their adoption is accelerating rapidly, particularly in remittances and foreign exchange settlement. Industry experts predict that stablecoin payment volumes could exceed $1 trillion annually by 2030, driven by institutional adoption, improved regulatory clarity, and their superior speed and cost efficiency compared to traditional methods.
Companies like Taxbit and Mural Pay are playing a crucial role in this evolution.
Taxbit, a leader in cryptocurrency tax compliance and automation, simplifies the complex tax implications of crypto transactions, including stablecoin payments. By lowering regulatory hurdles, Taxbit promotes adoption and ensures financial transparency, enabling companies to integrate stablecoin payments without unexpected tax complexities.
Mural Pay, on the other hand, focuses on providing robust payment infrastructure that supports stablecoin transactions for businesses and consumers. The company aims to deliver seamless, fast, and cost-effective payment solutions, making it easier for merchants and users to accept and use digital cash in everyday transactions.
Together, these companies are facilitating stablecoin acceptance and utility by tackling practical challenges. Taxbit through compliance and transparency, and Mural Pay through payment infrastructure and user experience. Their efforts contribute to the ongoing transition from stablecoins as niche crypto assets towards becoming mainstream digital cash options in global commerce and remittances.
Aaron Jacob, VP of Enterprise Accounting at Taxbit, stated that stablecoins and payments are transforming the way companies transact and manage cash. However, middle and back office operations for on-chain payments introduce real challenges, according to Jacob. To address this, Taxbit has developed a new product module that provides around-the-clock payments and collections functionality.
In a strategic move, Taxbit has partnered with Mural Pay to deploy a payments module for stablecoin payments. This collaboration will allow select Taxbit clients, including digital asset exchanges, banks, fintechs, and government entities, to invoice customers directly and accept stablecoins as payment. The partnership will enable a more seamless integration of digital assets into customers' operational workflows, making cross-border payments quick, cost-effective, and secure.
With these advancements, the future of global payments looks promising, with stablecoins poised to revolutionize the way businesses and individuals transact across borders.
1) Taxbit's new product module, designed for around-the-clock payments and collections, aims to simplify the challenges in middle and back office operations for on-chain payments, particularly for stablecoin transactions.
2) In a strategic move to facilitate seamless integration of digital assets into operational workflows, Taxbit has partnered with Mural Pay to deploy a payments module for stablecoin payments, thereby enabling select Taxbit clients to invoice customers directly and accept stablecoins as payment.
3) The technology-driven business Mural Pay continues to make strides in the digital payments industry, focusing on providing robust payment infrastructure for stablecoin transactions, while promoting faster, cheaper, and more transparent cross-border payments.
