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July 8, 2022

Fuse Labs launches blockchain payments API platform

Web3 payments company Fuse has launched a blockchain payments API platform Fuse Charge as cryptocurrencies continue to become popular across the world.

Fuse Charge will allow businesses and professional developers to integrate payments powered by the fast and low-cost Ethereum Virtual Machine (EVM)-compatible Fuse Network blockchain into their products.

According to Fuse, transfer finality, open access, and peer-to-peer architecture of the blockchain-powered payments can address several flaws in the current global payment system.

These include issues such as high transaction fees, excess intermediation, chargebacks, frequent lack of interoperability between platforms, geographic fragmentation, and hidden interest.

Fuse’s platform consists of a range of Fuse smart contracts and backend infrastructure tools that are exposed to developers through easy-to-use APIs.

The beta testers of the platform will be provided with an Admin API for setting up tokens and blockchain accounts, a Wallet API for developing mobile wallet applications, and a Trade API for incorporating decentralised exchange trading for tokens.

Several elements of the Fuse Charge platform have been previously used by a number of companies, organisations, and communities to rollout blockchain-powered applications since 2020, according to the company.

These include elements such as Fuse Cash, Peepl, Bitazza, and Comunitaria.

Recent developments in crypto payments space

Digital payment platform Wirex recently launched a cryptocurrency-backed loan offering that will enable users to borrow up to $100,000 in stablecoins.

Last month, Binance’s self-custodial crypto wallet Trust Wallet integrated with global payment infrastructure provider Binance Connect to increase adoption of digital currencies.

The same month, Singapore-based fiat-crypto payment provider Alchemy Pay teamed up with Forter to bolster its crypto ramp services.

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