On May 10, Fuse Labs announced a $5 million investment from Israeli-listed digital asset company Tectona, which will be used to advance the development of Fuse Charge, a Fuse SaaS product that enables developers to rapidly build applications that can process payments at scale.
In July, the Fuse Charge was officially unveiled to the masses. The blockchain service platform enables engineers who are just entering the blockchain industry as well as enterprises to use the Ethereum Virtual Machine (EVM) compatible Fuse Network blockchain.
Fuse said that Fuse Charge will solve the problems of high transaction fees in the current payment system, the need for middlemen, and the inconsistency of jumping between different platforms due to different regions.
Fuse Charge combines transfer finality, open access, and peer-to-peer architecture for blockchain-powered payments.
Beta testers of the platform will get the Admin API for setting up token and blockchain accounts, the Wallet API for developing mobile wallet applications, and the Trade API for merging tokens for trading on decentralized exchanges.
According to a survey by Big Four audit firm Deloitte, 87 percent of merchants believe that crypto payments will keep them at the top of the industry based on the competitive advantage it brings.
Binance cryptocurrency exchange, the world’s largest crypto exchange platform by trading volume announced a partnership with Brazilian payments platform Latam Gateway to restore deposits in Brazilian reals in the region several days ago.
Last month, Fintech giant Paypal Holdings also upgraded its crypto wallet capabilities. Users of the app can now send supported digital assets to other wallets.
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