Bolt, a leading checkout and payments platform, has made waves in the marketplace onboarding space with the launch of Bolt Connect. This revolutionary tool simplifies the onboarding process for marketplace operators, eliminating traditional barriers and streamlining compliance, payouts, and backend infrastructure.
The introduction of stablecoin payment support within Bolt Connect further enhances its capabilities, especially for cross-border marketplace operations. Stablecoins offer a seamless solution for international payments by enabling direct peer-to-peer transfers without the need for multiple intermediaries or currency conversion fees. This means that merchants can now receive their funds instantly, without the risk of foreign exchange volatility.
The timing of Bolt’s announcement couldn’t be better, as the stablecoin market continues to experience explosive growth. With stablecoin market capitalization reaching $228 billion, it’s clear that these digital assets are becoming an integral part of the payments ecosystem. In fact, active stablecoin wallets have increased by 53% in the past year, with monthly stablecoin transfers exceeding $4.1 trillion.
Bolt’s move to integrate stablecoin payments into its platform aligns with a larger trend in the industry. Major players like Stripe, Visa, Mastercard, and Fiserv have all launched stablecoin initiatives in recent months, signaling a widespread adoption of digital dollar infrastructure. Traditional banks are also getting in on the action, with JPMorgan, Bank of America, Citigroup, and Wells Fargo reportedly exploring joint stablecoin projects.
The shift towards stablecoin payments is not just a passing trend; it’s a fundamental change in how payments are processed globally. As more companies and financial institutions embrace stablecoin infrastructure, the potential for growth in this space is enormous. Standard Chartered projects a 10-fold market growth to $2 trillion within three years, while Citigroup forecasts a potential $3.7 trillion by 2030.
Overall, Bolt’s introduction of Bolt Connect and stablecoin payment support marks a significant step forward in the evolution of marketplace onboarding and payments. By simplifying the onboarding process and enabling seamless cross-border transactions, Bolt is paving the way for a future where stablecoins play a central role in the global payments landscape.