Payments

Question 1

On/off ramp

Answer 1

Fiat to crypto and crypto to fiat

Instant integration that enabless support of fiat to stablecoin conversion
Connect to supported on/off-ramps to easily convert between fiat currency and crypto, including foreign exchange (FX).

Question 2

Settlement times

Answer 2

Fast settlement time in payments refers to the speed at which funds are transferred from the payer to the payee, essentially how

Question 3

New merchant markets

Answer 3

With our offering, customers can launch new blockchain-based payment services that offer instant merchant settlement on stablecoin 24/7/365, and benefit from additional revenue, stronger capital efficiency, and the ability to serve customers in more geographies.

Question 4

Move money across borders in minutes

Answer 4

Provide merchants with more options to transfer funds cross border with digital asset settlements in minutes, not days. Only Fireblocks enables you to connect to exchanges and on/off ramps so you can orchestrate stablecoin settlement flows across corridors with a single click

Question 5

Predictable digital asset settlements, constant visibility

Answer 5

Enable merchants and your treasury teams to operate with complete predictability of settlement and visibility into the entire digital asset payments flow. Fireblocks provides a real-time view into the exact location of funds, enhancing capital and liquidity management.

Question 6

Payment flows

Answer 6

Customize your payment flows with our point-and-click interface or get started quickly with pre-built cross-border, merchant settlement, and payout flows.

Question 7

Network/connectivity layer

Answer 7

Fireblocks provides a connectivity layer to on/off ramps, exchanges, and banks so you can build dynamic flows that Convert, Transfer, and Disburse digital asset payments with a single solution.

Question 8

Fireblocks payments engine

Answer 8

Launch new merchant services with Fireblocks Payments Engine, a suite of tools to accept, manage, and settle digital asset payments across any blockchain and geography

Question 9

Wallet infra and security

Answer 9

Build refers to the solution architecture, wallet infrastructure, connectivity to blockchain network(s), and orchestration of your solution. you will need to decide if you are going to custody funds on behalf of customers or not, and what type of wallet infrastructure is best suited for that purpose.

One other item to touch on in the Build phase is security. Security in crypto and digital assets is paramount

Question 10

Consideration 1: Build vs. Buy.

Answer 10

This refers to building your own wallet infrastructure or using a vendor. Speed to market and security need to be your top priorities here and going with a well-established, battle-tested and audited vendor is one of the fastest and most secure ways forward

Question 11

Consideration 2: Choosing the right wallet infrastructure model.

Answer 11

As a company focused on payments, you need to ensure your blockchain-based products and services meet the expectations of today’s payments environment – fast, efficient and agile. You also need to ensure that you maintain full control over your payment flows and operations. This means choosing the right wallet infrastructure model that gives you control and flexibility you need to meet customer needs.

Question 12

Merchant services

Answer 12

Merchant services refer to the financial tools and support provided to businesses to accept and process payments, typically through credit cards, debit cards, or other electronic methods. This includes services like payment processing, payment gateways, POS systems, and merchant accounts

Question 13

Consideration 3: Blockchain and currency selection.

Answer 13

Are you focusing on building on or utilizing a specific blockchain or will you be more blockchain agnostic? Are you planning to work only with USDC or also USDT and PUSD? Keep in mind that as the world moves towards more blockchain interoperability, you will likely need wallet infrastructure that can support near-term and future use cases, chains and tokens.

Question 14

Ecosystem Partners

Answer 14

consider the ecosystem required to be successful. Crypto and digital asset products and services can launch quickly, and perform best when you bring together an ecosystem of participants to handle the various parts of the value chain.

Question 15

Liquidity providers.

Answer 15

Sourcing access to reliable and deep liquidity at the best prices can be paramount depending on your use case. It’s also key for understanding your cost structure, and therefore your pricing strategy.

Question 16

Compliance

Answer 16

Implement the right infrastructure to comply with AML, KYT, and Travel Rules regulatory requirements for the jurisdictions you plan to operate in (and beyond, as you look to grow).

Question 17

Consideration 7: Governance and transaction approvals

Answer 17

Security in crypto and digital assets is not just protecting from external threats, but internal as well. You will need to develop transaction authorization rules for your team to secure your operations business from bad actors and ensure continuity. You also want to ensure rules are customizable and modifiable so that they can evolve with your needs.

Question 18

Consideration 8: Embed automation in your workflows

Answer 18

You will want to be able to automate two main items within your operations. The first is automating governance flows to keep up with the business needs. The second is automating manual and time-consuming processes (this is why it’s helpful to map out the workflows, so you can understand what can be automated).

Question 19

Consideration 9: Accurate reporting and reconciliation

Answer 19

You will want to be able to track and audit all transactions made (both inbound and outbound), as well as ensure that you can sync up to your legacy reporting systems to ensure fast and easy reconciliation.

Question 20

T+0 Settlement

Answer 20

Achieves 24/7/365 settlement with merchants in T+0, enhancing operational and merchant capital efficiency.

Question 21

Diversification of revenue opportunities

Answer 21

Expands into new market segments and creates a differentiated product offering for existing customers.

Question 22

Fast time- to-market

Answer 22

Built and launched stablecoins payment solutions within weeks.

Question 23

Mitigation of risk exposure

Answer 23

Avoids stablecoins on its balance sheet, reducing exposure to market volatility and operational risks and enhancing financial security and stability while complying with regulatory standards

Question 24

Worldpay

Answer 24

Many people don’t realize that when you pay a merchant with a credit card, that merchant doesn’t get paid until a few days later – with money moving through three or four different intermediaries

The traditional banking system is limited by a narrow window of settlement opportunities, allowing merchants to access funds only during operating business hours, excluding weekends and holidays. This results in extended processing times, with regular transactions often taking three to four business days

Question 25

Merchant settlement

Answer 25

Merchant settlement refers to the process where a merchant receives payment for a sale from a customer's payment method (like a credit card). It's the final step in a transaction where funds are transferred from the customer's bank to the merchant's business account, minus any applicable fees.