Blockchain-enabled B2B payments network Paystand has announced that it has acquired Bitwage, with the deal being directed towards scaling its stablecoin capabilities. Through this transaction, Paystand is set to be able to provide enterprise-grade stablecoin settlement and FX across its network, which, according to company data, has processed over USD 20 billion in payment volume for enterprises and businesses globally. The deal comes just after several other companies have decided to advance their position in the industry. For example, Stripe acquired Bridge for USD 1.1 billion while Ripple entered into a USD 1 billion deal with GTreasury. Moreover, BNVK was working on a USD 2.5 billion stablecoin infrastructure agreement with Mastercard and Coinbase.

The increase in such moves can be associated with emerging regulatory clarity across the world, with the US, the UK, Europe, and Asia working on scaling confidence in the acceptance of the digital currency. As part of the strategic deal, Bitwage is set to bring Paystand several additional capabilities, with the combined company planning to provide: Furthermore, according to the official press release, integrations are set to start immediately for select enterprise customers, while a broader launch is planned by corridor and currency. The combined company will support fiat interoperability and offer treasury controls to match corporate risk policies..