September 25, 2024Updated October 10, 2024

B2BINPAY Participates in TOKEN2049: Stablecoins and Future Plans

2024 2024 2023

B2BinPay Participates in TOKEN2049: Expanding Stablecoin Payments and Blockchain Support.

B2BINPAY proudly participated in TOKEN2049 Singapore, one of the largest and most influential annual events in the cryptocurrency industry, which took place from September 18th to 20th. TOKEN2049 brings together leading entrepreneurs, investors, developers, and media representatives and provides a unique platform for developing collaborations that shape the future of the crypto economy.

The Rise of Stablecoins and B2BINPAY’s Role

At TOKEN2049, stablecoins were a central theme, especially in the context of Singapore, where they are quickly becoming the preferred method for business payments. B2BINPAY is actively participating in this movement, promoting the acceptance of stablecoin payments to help businesses streamline their transactions.

Vitaliy Shtyrkin, CPO of B2BINPAY

“Stablecoins drive the broader acceptance of digital currencies, and the $1 billion stablecoin payment value in Singapore is a good example of it. It once again highlights the efficiency and reliability of stablecoins, especially for companies looking for seamless transactions without the risk of exposure to volatile assets. By leveraging USDT and USDC, businesses can achieve these benefits.”

B2BINPAY’s focus on stablecoins reduces reliance on traditional banking systems, making cross-border transactions faster and more cost-effective. As Singapore strengthens its position as a digital asset hub, growing regulatory clarity is expected to further boost stablecoin payment volumes. It is particularly true for USDC, which is now a fully regulated stablecoin that offers businesses a secure and compliant option for their payment needs.

This trend is not limited to Singapore; cryptocurrency users from other countries are also increasingly adopting stablecoins, all thanks to their growing regulatory clarity and price stability.

B2BINPAY’s Expanded Blockchain Support

To continue boosting stablecoin adoption, B2BINPAY has expanded its blockchain support to include two leading networks: Solana and Algorand. These additions provide businesses with even more options for low-cost, high-speed stablecoin transactions.

Solana uses a unique Proof-of-History consensus algorithm, allowing it to process 1,504 transactions per second — 46 times faster than Ethereum. With an average transaction fee of $0.00189, supporting USDT and USDC on Solana is ideal for ensuring fast, low-cost stablecoin transactions.

Algorand uses a Pure Proof-of-Stake (PPoS) consensus mechanism for faster, more secure transactions. With a minimum fee of $0.0001, Algorand’s stablecoin support, especially for USDT and USDC, offers one of the most cost-effective transfer platforms, further enhancing its appeal for businesses.

With the integration of Solana and Algorand, B2BINPAY now supports nine networks for USDT and ten networks for USDC. These additions allow the company to offer its customers a wide range of stablecoin transaction options, significantly reducing processing costs and increasing transaction efficiency.