Crypto payments protocol AEON is partnering with Stellar to accelerate the adoption of crypto for payments across Southeast Asia.
AEON’s strategic partnership with Stellar (XLM) allows for support for XLM and Stellar-native USDC (USDC) as accepted payments at retail stores across major cities in Southeast Asia.
The collaboration will also expand the blockchain solution across Africa and Latin America, AEON said in a press release.
XLM and USDC payments will be facilitated through AEON Pay, a web3-powered mobile solution that enables real-world purchases at major retailers. Currently, the service connects to more than 10,000 brands and 20 million QR-enabled stores across the Southeast Asian region.
“By integrating support for Stellar assets, AEON is empowering businesses and consumers with new payment options that are both efficient and inclusive,” the platform noted.
The integration of XLM and Stellar-USDC adds to the growing adoption of crypto and stablecoins in the payments space, with regulatory clarity playing a key role.
This sees users keen to tap into instant and near-zero payments devoid of the shortcomings of traditional banking systems are increasingly looking at cross-border crypto solutions.
Stellar’s blockchain, one of the leading platforms in the space, offers a payment-optimized protocol suitable for both microtransactions and high-volume transfers by financial institutions. According to AEON and Stellar, their partnership marks a major milestone for web3 commerce.
The support for Stellar comes a few days after the AEON team integrated The Open Network, bringing Toncoin (TON) and TON-native Tether (USDT) to millions of users on Telegram.
Meanwhile, the traction for Stellar across the industry has included major partnerships with leading players in decentralized finance and TradFi.
These include Mastercard, Stripe, and Paxos. Stripe’s integration enabled XLM payouts, while Paxos tapped into Stellar’s network to expand access to its U.S. dollar-pegged stablecoin.
