Fuse, a blockchain payment platform, has unveiled Charge, the first Web3 merchant bank to offer a wide range of crypto and fiat payment solutions, as reported to Finbold on Wednesday, October 8.
The new platform will support blockchain companies and include services from payments to invoicing.
Charge – Fuse’s Web3 bank
Charge targets small to medium businesses and offers competitive transaction fees of just 0.5%. It enables transactions in various crypto and fiat currencies, eliminating obstacles in international trade.
Unlike traditional banks, Charge offers customers the ability to maintain full control of their assets at all times as a flexible solution across both Web3 and Web2 spaces, including crypto startups and e-commerce companies.
Similarly, the Web3 bank offers full Application Programming Interface (API) integration, making it easy for developers to integrate Charge into their existing systems.
Additionally, Fuse promises strong security measures, giving customers complete visibility and control over their assets.
Mark Smargon, CEO of Fuse, commented:
“Advances in Web3 infrastructure and tools have made it possible to experience digital banking on-chain, complete with neobank-level products and services. Charge combines these innovations into a single platform that allows merchants to enjoy the benefits of non-custodial payments and billing, coupled with a fiat-off ramp for seamlessly moving assets into the traditional financial system.”
More flexibility in the Web3 payments industry
As cryptocurrencies become more mainstream in cross-border trading and e-commerce, Fuse aims to address obstacles such as high costs, security concerns and ease of use.
To mitigate these issues, Fuse has developed a non-custodial solution that uses Web3 to complement rather than replace fiat systems.
The already large Web3 payments industry is expected to reach $3 billion by 2025, with an annual growth rate of 40%, and more than 60% of businesses appear willing to accept crypto payments – if they can be made secure and simple.
Charge aims to accelerate the adoption of crypto payments by addressing usability, privacy and trust issues.