UK-based fintech platform Pomelo Pay has partnered with Singapore-based cryptocurrency payments services provider TripleA to help companies offer cryptocurrency payments and pay-outs. The partnership will provide businesses, financial institutions, merchant acquirers, payment service providers and other fintechs with the new solution.

Pomelo’s B2B platform supports businesses with frictionless payments, merchant acquiring services and more. As a unified white label solution, businesses can allow their merchants or partners to accept popular international payment methods. With the partnership, Pomelo has expanded its offering opening up more businesses to accept cryptocurrencies directly through secure QR codes and payment link technology.

Licensed by Singapore’s Central Bank, TripleA is a white-label crypto payment gateway that connects both crypto users and non-users around the world. With its instant confirmation, locked-in exchange rates, and real-time fiat conversions, businesses get to pay and get paid in crypto without holding or converting digital currencies, as the company says. Luxury hospitality company Soneva has become the first business to use the services provided by the partnership, which will allow it to accept Bitcoin and Ethereum cryptocurrencies across its resorts.

Previously, Pomelo Pay expanded its operations in Sri Lanka, partnering connectivity provider Dialog Axiata to provide a digital payment platform for SMEs. As the company said then, the partnership was in line with Pomelo’s plans to expand its global presence in Asia and Europe and will help consolidate about 80. 000 SME merchants across Dialog’s multiple platforms, including ezCash into a common payment platform Genie.

Crypto payments around the world Tagged as the ‘currency of the future’, cryptocurrency payments are becoming increasingly popular. Nearly 75% of retailers plan to accept either cryptocurrency or stablecoin payments within the next two years, according to a June 2022 survey conducted by Deloitte. Given that the industry is evolving, more players are offering crypto payments around the world.

Hong Kong-based digital payments solution AsiaPay has teamed with TripleA as well. This collaboration will allow merchants in the Asia Pacific to have access to an over 300 million global cryptocurrency user market. As part of the recent crypto payments activity in the APAC region, US-based cryptocurrency trading and custody platform Paxos has received a licence from the Monetary Authority of Singapore (MAS) in March 2022.

Paxos, which holds a limited purpose trust charter for digital assets in the US and was one of the first crypto firms to be regulated by the New York Department of Financial Services, has had a presence in Singapore since 2012, but recently looked towards crypto for product expansion in the area. .