Cash News
Payments protocol Aeon will integrate the Tron network as its underlying cryptocurrency payment infrastructure.
The partnership “opens new opportunities for seamless crypto payment across the TRON ecosystem,” Aeon said in a news release Monday (Oct. 14).
The integration will let decentralized applications (dApps) on Tron accept crypto payments through Aeon, simplifying the implementation of a range of payment methods such as subscriptions and tipping.
“This streamlined process will reduce barriers to adoption, providing faster and more efficient payment experiences within the Tron ecosystem,” the release said.
Tron, “known for its scalable and efficient blockchain network, complements this integration by providing a robust platform for dApps,” the release said, citing its “fast transaction speeds and low fees.”
Looking at the crypto payments landscape last month, PYMNTS noted that in spite of the digital currency’s increasing financial influence and its investors’ affluence, there’s a lingering question: Will crypto be able to deliver on its promise as a viable payment mechanism, particularly as other digital payment innovations are evolving to meet the demands of commerce?
“Despite the explosive growth in crypto wealth, the adoption of cryptocurrencies as a mainstream payment mechanism remains limited,” that report said.
“While bitcoin and other digital assets have made strides in being accepted by a growing number of merchants, significant hurdles remain in proving their utility and scalability — not the least of which is the same volatility that has created the rising cohort of over 170,000 crypto millionaires.”
In other related news, PYMNTS examined the use of blockchain and stablecoins in cross-border payments last month in an interview with Sheraz Shere, general manager of payments and commerce at Solana Foundation.
“Blockchain solutions and stablecoins, I don’t like to use the term crypto because this is more about FinTech, they’ve found product-market-fit in cross-border payments,” Shere said.
He added that one of the most notable benefits of blockchain technology is disintermediation — doing away with the need for the multiple passes through correspondent banks, which often slow down and increase the cost of transactions.
By contrast, blockchain-based transactions offer speed, transparency, and reduced cost, with blockchain platforms such as Solana charging a fraction of a penny for each transaction.
Stablecoins, in particular those backed by trusted issuers such as Circle and PayPal, simplify cross-border payments even further by pegging their value to fiat currencies like the U.S. dollar, Shere said.
