HitPay, a Singapore-based payments platform, said it partnered with licensed crypto payments firm Triple-A to enable more than 20,000 merchants to accept stablecoin payments at online and in-store checkouts while receiving instant settlements in fiat currency.
The Monetary Authority of Singapore (MAS)-regulated arrangement targets small and medium-sized businesses seeking to reach crypto-native and cross-border shoppers without taking on digital-asset price risk, the companies said.
Under the integration, customers pay in stablecoins and Triple-A locks the exchange rate and converts funds to fiat immediately, removing volatility exposure.
HitPay then settles proceeds to merchants and reconciles transactions within its dashboard, aiming to make stablecoin acceptance operate like any other tender type.
The firms said the rollout can be activated within minutes across e-commerce plugins and physical points of sale.
Both companies are regulated by MAS: HitPay as a Major Payment Institution for payment services and Triple-A as a Major Payment Institution licensed to offer digital payment token services.
The regulatory status is intended to provide compliance, security controls and consumer protections in line with Singapore’s payments framework.
The launch comes amid growing interest in digital-currency payments among businesses and consumers.
A Singapore Business Review survey cited by the firms indicated six in ten businesses in the city-state plan to accept crypto payments within two years, while Chainalysis data showed local merchant services received nearly $1 billion in crypto in the second quarter of 2024.
Globally, blockchain transaction volumes are on track to surpass US$27 trillion in 2025, according to industry estimates referenced by the companies.
HitPay said the partnership combines its merchant acquisition, checkout and settlement stack with Triple-A’s crypto payment rails and instant conversion technology, offering a simple, compliant way for merchants to add a new payment option.
The companies said the roadmap includes expanding merchant onboarding and adding reporting features designed to improve visibility into performance across stablecoin transactions.
The service is available immediately to eligible Singapore merchants using HitPay, the companies said in a statement.