Smartpay, a fintech infrastructure firm recognized for facilitating stablecoin-based transactions since 2019, has been purchased by Rezolve AI, a publicly traded commerce platform. This acquisition highlights the increasing fusion of digital assets and AI-powered e-commerce.
The acquisition was revealed on Tuesday, though financial details were not disclosed. Rezolve stated that this move will enhance its digital asset payment initiative in collaboration with Tether, the issuer of the USDt (USDT) stablecoin.
As per the announcement, Smartpay processed over 19 million commercial transactions in the year ending Sept. 30, amounting to more than $1 billion in USDt value.
Active in Latin America and Central Africa, Smartpay allows consumers to make payments using stablecoins like USDt, while merchants typically receive settlement in local fiat currency. The company’s model merges crypto payment capabilities with instant fiat conversion to reduce volatility and streamline adoption.
Smartpay competes in a wider market of crypto merchant payment services, including major players like BitPay, the oldest crypto payment processor, and Coinbase Commerce.
The acquisition enhances Rezolve’s strategy to create a blockchain-based payments network, enabling consumers to transact with digital assets while offering instant fiat transactions for merchants.
“Smartpay provides Rezolve with a tested, transaction-ready platform to expand our digital asset payment initiative worldwide,” Rezolve AI CEO Daniel M. Wagner stated in an announcement.
Related: Ohio approves vendor to process crypto payments for state services
Payments, AI spur crypto adoption
The application of cryptocurrencies for payments has been recognized as both a significant use case and a considerable hurdle in blockchain adoption. A recent study by Reown and YouGov indicates that payments and AI are becoming the leading factors for the next phase of crypto growth.
Reown CEO Jess Hougrave noted that the insights reflect an increasing acknowledgment that both payments and AI help to render crypto useful and credible by incorporating digital assets into daily transactions and intelligent systems.
This intersection is gaining momentum throughout the industry. Google’s Agent Payments Protocol, unveiled in collaboration with Coinbase, allows AI agents to autonomously initiate crypto transactions, primarily using stablecoins. This partnership emphasizes the growing synergy between AI technologies and blockchain-based payment systems.
Industry leaders support this viewpoint. As reported by Cointelegraph, Galaxy Digital CEO Mike Novogratz foresees that AI agents will emerge as the primary users of stablecoins, considering their need for rapid, programmable, and borderless digital payments.
Related: Joe Lubin confirms SWIFT is using Linea to build its new payments system
