Fuse Charge, a blockchain payment API platform, has been officially launched by Web3 payments revolution firm Fuse.
On May 10, Fuse Labs announced a $5 million investment from Tectona, an Israeli-listed digital asset firm. The funds will be used to accelerate the development of Fuse Charge, a Fuse SaaS solution that allows developers to quickly construct applications that can process payments at scale.
The Fuse Charge was officially revealed to the public in July. The blockchain service platform enables both newcomers to the blockchain sector and established businesses to use the Ethereum Virtual Machine (EVM) compliant Fuse Network blockchain.
Fuse Charge, according to Fuse, would address the issues of excessive transaction costs in the present payment system, the requirement for middlemen, and the inconsistency of jumping between multiple platforms owing to different areas.
For blockchain-powered payments, Fuse Charge combines transfer finality, open access, and peer-to-peer architecture.
The platform's beta testers will receive the Admin API for creating token and blockchain accounts, the Wallet API for creating mobile wallet apps, and the Trade API for combining tokens for trading on decentralized exchanges.
According to a survey conducted by Big Four audit firm Deloitte, 87 percent of merchants feel that cryptocurrency payments would maintain them at the top of the industry due to the competitive advantage they provide.
Binance, the world's largest cryptocurrency exchange platform by trading volume, established a cooperation with Brazilian payments network Latam Gateway some days ago to reinstate deposits in Brazilian reals in the region.
Paypal Holdings also updated its crypto wallet capabilities last month. Users can now send supported digital assets to other wallets via the app.
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