Paystand strengthens cross-border stablecoin payments with Bitwage acquisition

Core Insights - Paystand has acquired Bitwage to enhance its business-to-business payments network by integrating stablecoin capabilities for cross-border payments [1][2] - The acquisition aims to facilitate enterprise-level settlement and improve liquidity management for corporate entities [2][4] Group 1: Acquisition Details - Paystand purchased Bitwage, which specializes in cross-border payments using stablecoins, serving over 90,000 payment recipients and 4,500 businesses [1] - The combined network has processed over $20 billion in payment volume for more than 1,000 enterprises [2] Group 2: Technological Integration - The integration will provide an API-driven payout engine supporting Tether (USDT), USD Coin (USDC), Ethereum (ETH), Bitcoin (BTC), and local currencies in around 200 nations [3] - This technology will enhance Paystand's accounts receivable and accounts payable network for quicker cross-border settlements [3] Group 3: Operational Benefits - The merger allows CFOs to move liquidity between corporate entities and regions within minutes, thanks to 24/7 stablecoin settlement [4] - The combined offering will streamline mass payouts, foreign-exchange handling, and vendor disbursements, unifying global order-to-cash and procure-to-pay workflows [5] Group 4: Market Positioning - Paystand aims to connect stablecoin rails to the $100 trillion B2B economy, providing faster settlement, lower costs, and programmable treasury solutions [6] - The integration of Bitwage's services will begin immediately for selected enterprise customers, with plans for gradual expansion [6]