Payments blockchain Fuse announced Charge, a new Web3 merchant bank offering a broad range of payment solutions for both cryptocurrency and fiat transactions. This initiative aims to deliver a full suite of financial services tailored to businesses operating within the blockchain sector, covering areas from payments processing to invoicing.
“Advances in Web3 infrastructure and tooling have made it possible to experience digital banking on-chain, complete with neobank-tier products and services,” said Mark Smargon, CEO of Fuse, in a written statement. “Charge combines these innovations into a single platform, enabling merchants to enjoy the benefits of non-custodial payments and invoicing, along with a fiat off-ramp for seamlessly moving assets into the traditional financial system,” he added.
Charge introduces a solution in the cryptocurrency sector, offering transaction fees as low as 0.5%. This reduces the cost of accepting payments, generating invoices, and managing cross-border transactions.
Designed specifically for small to medium-sized businesses (SMBs), it enables transactions in both cryptocurrencies and fiat, streamlining international commerce. Being non-custodial, it offers clients full control and ownership of their assets at all times.
Furthermore, it provides a flexible and user-friendly banking service for SMBs operating at the intersection of Web3 and Web2, including cryptocurrency startups and e-commerce stores. It features full Application Programming Interface (API) support, enabling developers to fully integrate its platform into their existing technology stack. Meanwhile, strong security features empower Charge clients to maintain complete oversight and control of their assets.
Digital currencies have grown in popularity for cross-border payments and e-commerce, but issues such as high fees and limited usability have slowed adoption. Charge seeks to overcome these obstacles by delivering a comprehensive, non-custodial solution that works seamlessly with existing fiat systems while leveraging Web3’s flexibility.
Fuse: What Is It?
Fuse functions as a Layer 2 blockchain that provides efficient, low-cost, and borderless payment solutions using stablecoins and decentralized finance (DeFi) building blocks. It enables businesses to build, integrate, and use blockchain technology to enhance mobile, e-commerce, loyalty, and branded stablecoins.
Recently, Fuse partnered with the rollup coordination layer, Radius, to integrate its advanced Blockspace network. This collaboration aims to strengthen the Fuse Network by improving security, scalability, and reliability, which are essential for accommodating the increasing demand for Web3 business solutions and payment applications.
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