Avalanche brings Stablecoin payments to NYC’s oldest holiday market

It is New York City’s oldest holiday market used nowstable currency payments this winter, and most visitors will never notice the difference. At Union Square Holiday Market, shoppers can now pay select vendors through Urbanspace’s mobile app, which handles USDC payments at the Avalanche blockchain.

This seasonal pilot places blockchain payments in a real, large-scale retail environment. Union Square is a busy public market that welcomed more than a million visitors last year. If stablecoin payments can work smoothly here, they can work just about anywhere.

A familiar holiday market, with a gentle change at checkout

Every winter, Union Square Holiday Market becomes a little town unto itself. The smell of cider and roasted nuts fills the air. Handmade candles, scarves and local foods line the walkways.

This year, hidden in that familiar routine, Urbanspace introduced a new payment option. Shoppers can browse, open the Urbanspace app, tap to pay and continue. There are no crypto wallets to set up, no private keys to manage, and no visible blockchain steps.

Behind the scenes, payment is handled in USDC, a dollar-pegged stablecoin issued by Circle through regulated entities. Avalanche processes the transaction within seconds. Funds reach sellers almost immediately.

From the customer’s perspective, it feels like any other mobile payment. From the merchant’s perspective, how and when they get paid changes.

How the Urbanspace Stablecoin payments work

The system is designed to stay out of the way. Urbanspace has built the payment flow so that shoppers do not need to understand the blockchain to use it.

This is what happens during a purchase:

• A shopper pays via the Urbanspace app.
• Payment is in USDC, which follows the US dollar.
• Avalanche validates and completes the transaction in seconds.
• The seller receives money without waiting days for settlement.

USDC is used because it removes price volatility. One USDC is equal to one US dollar, backed by cash and short-term government bonds.

Avalanche was chosen for its fast finality and low transaction costs.

Why faster settlement is important for small businesses

For large retailers, having to wait several days for card payments to be processed is an inconvenience. For small suppliers this can be a real problem.

Union Square suppliers often operate with limited staff, limited inventory and tight cash flow. The holiday season is their busiest time. Delayed access to income may mean you have to wait to replenish your inventory or cover daily expenses.

Traditional card payments cause several pain points:

• It may take days for the funds to be cleared.
• Interchange fees reduce every sale.
• Chargebacks and reconciliations add administrative work.
• Payout schedules are fixed and inflexible.

Settling on Avalanche reduces many of these frictions. Transactions are cleared within seconds. The costs are predictable and lower. Sellers can access revenue almost immediately.

“The Union Square Holiday Market brings so many small businesses together, and this pilot allows us to explore a simple, modern payment option that can benefit them during one of the busiest times of the year,” said Eldon Scott, president of Urbanspace.

Union Square Holiday Market runs until December 24th. During that time, Urbanspace will observe how sellers and shoppers respond.

The platform also includes:

• A digital supplier guide.
• Seasonal promotions.
• Tools that help visitors discover local businesses.

From a holiday market to global payments

The same network that supports small vendors in New York is being tested by major financial institutions.

Avalanche has been explored by companies like Visa, JP Morgan and Citi for stablecoin and tokenized payment settlement. The goal is the same in both cases: move money faster, with clearer data and lower costs.

In Japan, TIS Inc., a payment processor that processes more than $2 trillion annually, built a multi-token settlement platform on Avalanche. The system aims to streamline payments within the network.

A recent example comes from Southeast Asia. On December 8, Thailand’s Kasikornbank, better known as KBank, partnered with StraitsX and Avalanche to streamline cross-border payments between Thailand and Singapore.

The project, called Seamless Travel Payments on Chain, was announced at the Singapore FinTech Festival 2025. It focuses on real-time settlement for tourists and merchants.

Avalanche and regulated financial products

Avalanche’s role is not limited to payments. It will also become part of regulated investment products.

Bitwise Asset Management submitted an application in November 2025 amended S-1 with the U.S. Securities and Exchange Commission for a spot Avalanche ETF. The proposed fund, ticker BAVA, includes staking as part of its structure.

The ETF is designed as a trust provider. Investors are treated as direct owners of AVAX. Staking rewards flow through to the shareholders. The fund does not use leverage or derivatives.

Custody is handled by Coinbase Custody, with assets held in segregated cold storage. There is no FDIC or SIPC insurance, which is clearly disclosed.

This filing shows that Avalanche is being considered within traditional regulatory frameworks, and not outside of them.

Moreover, Securitize is launching pan-European trade and avalanche settlement system under the EU DLT pilot regime.

The system combines trading and settlement in one regulated environment. Tokenized stocks and bonds can be traded and settled in seconds.

Regulators, including the European Securities and Markets Authority and the European Central Bank, have been monitoring the development. The platform is active in all 27 EU member states.

Conclusion

Union Square Holiday Market’s use of stablecoin payments is inherently silent. Powered by Avalanche and delivered through Urbanspace’s app, the system settles USDC payments in seconds without changing the shopping experience.

For suppliers, it offers faster access to revenue and less friction during the busiest season of the year. For shoppers, it feels like a familiar mobile payment.

The same infrastructure powers global banks, cross-border payments in Asia, regulated ETFs and tokenized securities in Europe. In Union Square it supports a cup of cocoa and a handmade scarf.

Sources

1. Blog article from Avalanche: A new kind of holiday exchange comes to life in New York City

2. Avalanche on X: Announcements on November 27

3. Press release from Securitize: Securitize receives full EU regulatory approval and selects Avalanche for the first implementation of a European trading and settlement system

4. Coindesk article: Avalanche ETF Race

5. SEC document: Bitwise S-1 amendment