Payments blockchain Fuse has announced Charge, the first Web3 merchant bank with a broad range of payment solutions for crypto and fiat. Charge will provide a full suite of services for businesses operating in the blockchain industry, from payments to invoicing.
A first-of-its-kind innovation for the crypto sector, Charge offers low transaction fees of just 0.5%, making it easier to accept payments, generate invoices, and manage cross-border transactions. In doing so, Charge breaks new ground as the first non-custodial Web3 merchant bank.
Charge is designed for small to medium businesses (SMBs). It makes it easy for clients to transact in multiple cryptocurrencies and fiat, removing barriers to international commerce. As a non-custodial payment solution, Charge does not require a banking license to operate. Clients retain full ownership of their assets at all times.
Charge provides a flexible and user-friendly banking service for SMBs operating at the intersection of Web3 and Web2, including crypto startups and e-commerce stores. It features full API support, enabling developers to fully integrate Charge into their existing tech stack. Robust security features empower Charge clients to maintain complete oversight and control of their assets.
Fuse CEO Mark Smargon said: “Advances in Web3 infrastructure and tooling have made it possible to experience digital banking onchain, complete with neobank-tier products and services. Charge combines these innovations into a single platform that enables merchants to enjoy the benefits of non-custodial payments and invoicing, coupled with a fiat off-ramp for seamlessly moving assets to the traditional financial system.”
Many businesses and consumers use digital currencies for cross-border payments and e-commerce transactions. However, issues around high fees, security, and ease of use have hindered broader adoption. Charge aims to address these challenges by offering a comprehensive, non-custodial solution that works seamlessly with existing fiat systems while leveraging Web3’s flexibility.
Web3 payments are expected to reach a market size of $3 billion by 2025, with a CAGR of 40%. Over 60% of businesses report being willing to accept crypto payments if the process were simplified and secure. Charge will accelerate this trend by forming a vital component of the blockchain payment industry.
Charge is pioneering a new business model by applying crypto-economics around merchant reputation and solving usability, privacy and trust issues preventing mainstream Web3 payments adoption.
About Fuse
Fuse is a layer 2 blockchain that offers fast, cheap, and borderless payments with stablecoins and DeFi building blocks. It enables businesses to build, integrate, and use blockchain technology to enhance mobile, e-commerce, loyalty, and branded stablecoins.
Learn more: https://www.fuse.io
Tel-Aviv, Israel, October 9th, 2024, Chainwire
