WalletConnect Pay says it plans to roll out crypto and stablecoin payments across Latin America with the help of Blokko.io.
The partnership announced Thursday will provide a platform for merchants in the region to accept digital asset payments directly through their existing point-of-sale systems, using WalletConnect’s network of over 700 compatible wallets.
The partnership targets a critical gap in the Latin American market, where high inflation and a large unbanked population have driven some of the world’s highest rates of stablecoin adoption.
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“Latin America is one of the most important markets for crypto and stablecoin payments right now. Stablecoins aren’t a novelty here, they’re a practical tool people are already using to preserve value and move money across borders, said Jess Houlgrave, CEO of WalletConnect. “We’re thrilled to be working with Blokko to deliver a seamless crypto and stablecoin payment experience to users across the region.”
Unlike traditional crypto linked cards that rely on fiat-based card networks, WalletConnect says the Blokko integration allows for native transactions. Customers pay directly from their mobile wallets using stablecoins like USDC (CRYPTO: $USDC) and USDT (CRYPTO: $USDT), reducing the 2-3% fees typically associated with cross-border credit card processing, the company noted in a previous release.
Earlier this year WalletConnect also inked a global partnership with Ingenico to enable stablecoin payments on 40 million terminals worldwide.
