US-based fiat-to-crypto and payment infrastructure company Wyre is set to launch simple payment solution integrations for projects across the Algorand ecosystem.
This partnership with Algorand will help developers building on the Algorand blockchain to easily deploy any of Wyre’s APIs.
It is expected to help projects, such as decentralised financial applications and tokenized marketplaces, to integrate payment solutions in a matter of few hours.
Wyre said that the developers on Algorand will get access to its Checkout and Card Processing APIs from next month.
This will enable end users to transact in Algorand-supported currencies including native ALGO coin, as well as USDT and USDC on Algorand.
They will be also able to swap other cryptocurrencies into Algorand native currency and to earn yield on their Algorand assets.
Wyre CEO Ioannis Giannaros said: “Wyre is pleased to reveal our latest partnership with Algorand. Thanks to this partnership, developers can go to market sooner and provide their end users with enhanced functionality.
“We are looking forward to working closely with the Algorand team in the coming weeks and months to provide their developer ecosystem with further resources so they can get building and broaden the Algorand ecosystem even more.”
As part of the partnership, Wyre will make Algorand assets available across all current and future Checkout API deployments.
These assets can be purchased using a debit card and via ACH.
Algorand chief product officer Paul Riegle commented: “Wyre’s compliant payment infrastructure will enable Algorand-based projects to dramatically accelerate their go to market timelines.
“These exciting integrations will create new, frictionless on-ramps for users to the booming ecosystem of DeFi services, NFT markets, gaming platforms and more on Algorand.”
In 2016, Wyre launched blockchain cross-border payments platform, following $5.8m in Series A funding.