Payments Blockchain Fuse has unveiled Charge, the first Web3 merchant bank that offers a wide variety of crypto and fiat payment solutions. Charge will provide a comprehensive range of services, including payments and invoicing, to companies involved in the blockchain sector.
Charge is a first-of-its-kind innovation in the cryptocurrency space that makes it simpler to handle cross-border transactions, create invoices, and accept payments with transaction costs as low as 0.5%. Charge becomes the first non-custodial Web3 merchant bank by achieving this.
Charge is intended for SMBs, or small to medium-sized enterprises. It lowers obstacles to global trade by facilitating customers’ transactions in numerous cryptocurrencies and cash. Since Charge is a non-custodial payment solution, it may function without a banking license. At all times, clients have complete control of their assets.
Charge offers SMBs working at the nexus of Web3 and Web2—including cryptocurrency companies and e-commerce stores—a versatile and user-friendly financial solution. With its comprehensive API support, Charge may be completely integrated by developers into their current technology stack. Sturdy security measures enable Charge customers to have total control and supervision over their assets.
Fuse CEO Mark Smargon said:
“Advances in Web3 infrastructure and tooling have made it possible to experience digital banking onchain, complete with neobank-tier products and services. Charge combines these innovations into a single platform that enables merchants to enjoy the benefits of non-custodial payments and invoicing, coupled with a fiat off-ramp for seamlessly moving assets to the traditional financial system.”
Digital currencies are widely used by individuals and companies for e-commerce and cross-border payments. However, concerns about cost, usability, and security have prevented wider use. By providing a complete, non-custodial solution that integrates easily with current fiat systems and takes use of Web3’s flexibility, Charge seeks to overcome these issues.
With a 40% compound annual growth rate, web3 payments are projected to reach a $3 billion market size by 2025. More than 60% of companies say they would be open to accepting cryptocurrency payments if the procedure were made safer and easier to use. Charge, a key player in the blockchain payment sector, will quicken this trend.
By applying crypto-economics to merchant reputation and resolving the usability, privacy, and trust challenges impeding the widespread adoption of Web3 payments, Charge is leading the way in the development of a new business model.
Source: https://thenewscrypto.com/fuse-unveils-first-non-custodial-web3-merchant-bank-charge/