After a smooth testing run, crypto asset custody platform Fireblocks reportedly released its new payment engine for merchants, helping businesses settle and accept crypto transactions across jurisdictions.

Specifically, Fireblocks’ new Payments Engine is claimed to offer “turnkey solutions” for establishments looking for digital assets integration into their operations, per the firm. 

The platform makes it possible for payment service providers to incorporate new crypto payment rails and accept, settle and process digital asset transactions in an immediate manner. 

The platform further offers facilitating features for cross-border internal settlement, micropayments and merchant adoption with lower processing fees.

Ran Goldi, Fireblocks’ vice president of payments, additionally revealed that the service operates as “token-agnostic,” which means payment service providers are able to complete incorporation of whichever kind of digital assets they desire. 

“They can use any of the 42 blockchains and 1,300+ tokens that Fireblocks supports”. 

Goldi also offered clarification that because of a wide array of factors – nominally regulatory adjustments – stablecoins have earned their place as the front-runner for digital asset payments. 

Payments Engine was trialed by payments processor Checkout.com, which finalized the settlement of $1 billion in merchant transactions with the help of the tool. 

On Oct. 24, Fireblocks issued an announcement stating that FIS, the global top-tier merchant acquirer, would also commence its testing stage for the solution. FIS manages Worldpay, a multibillion-dollar payment processing firm it bought three years ago.