Customers on Kado’s platform can now spend USDC on over 500 brands directly from their Solana Phantom Wallet
Boston, April 19, 2022 — Kado, a startup building stablecoin payments infrastructure for Web3 announced today the ability to enable transactions using USD Coin (USDC) on Solana. Kado’s* mission to enable frictionless access to and utility for stablecoins will be experienced by users of Kado’s stablecoin shopping platform, Kado Pay, where customers can seamlessly transact with USDC via their Solana Phantom Wallet.
“We believe the future of finance will be built on the blockchain and with digital currencies,” said Emery Andrew, co-founder and CEO of Kado. “Users should be able to freely choose which stablecoins and blockchains they utilize for their financial activity and experience a frictionless transaction. Over the last year, the stablecoin market supply has grown by over $120 billion, clearly proving product market fit and consumer demand.”
A global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide, Circle’s USDC holds a circulation greater than $50 billion. Kado will leverage Circle’s payment solutions to enable fast, secure, and low-cost payments in USDC across a multitude of platforms.
“As global e-commerce sales grow at an unprecedented rate, consumers are looking toward dollar digital assets like USDC for a more efficient form of payment that can complement their digital retail experiences,” said Jeremy Allaire, co-founder and CEO of Circle. “That’s why we are thrilled to be working with Kado to offer users the option to pay with USDC for everyday goods.”
Kado also intends to incorporate Solana Pay, the new set of decentralized payment standards developed by Solana, to provide an additional easy-to-use cross-chain stablecoin payment option for consumers.
Kado will also be working to integrate Solana USDC into Kado Ramp, Kado’s on-and-off-ramp product which aims to deliver a fast and easy way to swap between fiat dollars and stablecoins.
*Circle Ventures, a part of Circle Internet Financial, LLC, is also an investor in Kado.