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Brex to accept stablecoins as payment
['Gabrielle Saulsbery']
Banking Dive - Latest News
Brex will begin accepting stablecoin payments on its platform in coming months, the company announced Tuesday.
Customers with a Brex business account can then accept stablecoins — starting with Circle’s USDC — as payment, with automatic conversion into dollars, and to send stablecoins from their fiat balances.
A Brex spokesperson said the company plans to include other stablecoins for balance payments in the future.
Several companies, including Fiserv and PayPal, have launched their own stablecoins; Stripe unveiled a platform Tuesday for businesses to develop their own stablecoins, born out of Bridge, which Stripe acquired last year.
In launching its financial platform to manage both traditional and stablecoin-backed spend, San Francisco-based Brex is looking to differentiate itself from other institutional payment platforms.