Paystand, a prominent B2B payment platform, has acquired Bitwage for $2 billion, aiming to expand its stablecoin payroll services to over 90,000 workers. This strategic acquisition merges Paystand's enterprise payment infrastructure with Bitwage's expertise in digital payroll, facilitating salary payments in stablecoins such as USDC and USDT. The combined platform will serve 1,000 enterprise clients, offering faster and cost-effective cross-border payments without traditional ACH delays and forex fees.
The acquisition comes amid a significant rise in the stablecoin market, which saw an 87% increase in transaction volume year-on-year, with projections to reach $9 trillion by 2025. The integration will leverage Layer 2 solutions and Solana for quicker settlements and plans to expand into Japan through JPYC integration, maintaining Bitwage's zero-incident security record over 11 years.
Paystand Acquires Bitwage for $2 Billion to Enhance Stablecoin Payroll
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