RATE Group | Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions
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Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions

04 May Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions

Posted at 01:34h in Cryptocurrency News by

Business payment and accounting solutions firm Gilded says companies are now turning to stablecoins as a crypto payment alternative to Bitcoin (BTC) and Ethereum (ETH).

Digital currencies offer a cheaper and faster option to traditional cross-border payment methods but the advantages do not generally apply to businesses that transact large amounts of money. Many companies find the technology too complicated, and the volatility of the crypto market also discourages the use of BTC and ETH.

In an interview with Pyments.com, Gilded chief operating officer Neal Roche says the use of digital currency in B2B payments is changing as stablecoins are easing the transition to the new technology for cross-border transactions. Stablecoins are designed to hold their value against fiat or other stable assets so that they do not fluctuate as erratically as other cryptocurrencies.

“Stablecoins have seen a huge influx in the last few months. This is lowering the…

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