HitPay, a leading payments platform in Singapore, has partnered with Triple-A, a licensed crypto payment solutions provider, to introduce stablecoin payments to over 20,000 local businesses. This collaboration, regulated by the Monetary Authority of Singapore (MAS), allows merchants to accept stablecoins and receive instant fiat settlements, eliminating the risks associated with digital currency volatility.
The partnership leverages HitPay’s expertise in merchant acquisition and checkout processes with Triple-A’s crypto payment technology. This integration provides a seamless and compliant solution for businesses aiming to tap into the growing digital currency market. Both companies are regulated by MAS, ensuring compliance and security for consumers and businesses alike.
Aditya Haripurkar, CEO of HitPay, stated, “Our merchants are always looking for ways to reach new customers without adding operational risk. By partnering with Triple-A, we make stablecoin acceptance as simple as any other payment method.” Eric Barbier, CEO of Triple-A, added, “Together, we enable businesses to reach crypto-native consumers whilst removing volatility and keeping compliance straightforward.”
The demand for digital currency payments is surging in Singapore, with a recent survey indicating that 60% of businesses plan to accept crypto payments within the next two years. In the second quarter of 2024, local merchant services received nearly $1b in crypto payments. This trend is part of a global shift, with blockchain transaction volumes expected to exceed $27t in 2025.
This partnership marks a significant step in integrating digital currencies into everyday transactions, providing a model for other regions to follow.
