SINGAPORE, Nov. 11, 2024 /PRNewswire/ — AEON, the next generation payment protocol, has teamed up with First Digital Labs, issuer of First Digital USD (FDUSD), a reserve-backed stablecoin redeemable on a one-to-one basis for cash, to bring seamless crypto payment options to Southeast Asia. This collaboration makes it possible for users to pay with FDUSD at offline merchants, using AEON’s easy-to-use QR code payment system, which simplifies the payment process for both consumers and businesses and expands the payment scenarios for FDUSD.
The AEON payment solution integrates directly with regional payment networks, such as VietQR in Vietnam and ThaiQR in Thailand, ensuring wide accessibility in collaboration with Terminus, a pioneering Payment Association. Merchants can easily adopt AEON’s system without any new hardware, with crypto payments automatically converted to local fiat currency. This makes it possible for users to pay with FDUSD by simply scanning a QR code, promoting the use of crypto for everyday purchases across a variety of retail and service sectors.
As part of this initiative, AEON will also launch a special offline payment campaign in Southeast Asia. During the campaign, users can experience the ease of AEON’s scan-to-pay system at select merchant locations, where FDUSD payments will be processed seamlessly through QR codes.
This joint effort with FDUSD marks a major advancement in making cryptocurrency a practical choice for daily transactions in Southeast Asia. AEON, FDUSD, and Terminus are joining forces to expand crypto accessibility and facilitate its adoption, bringing effortless in-store purchases for users and broadening the impact of blockchain technology in mainstream commerce. This initiative demonstrates a collective dedication to fostering a more inclusive and connected digital economy.
About First Digital Labs
First Digital Labs is the brand name of FD121 Limited, a Hong Kong-registered subsidiary under the First Digital Group. First Digital Labs is building a portfolio of stablecoins with uncompromising trust from Asia, designed to meet the needs of global businesses and institutions to facilitate efficient and compliant global expansion, cross-border payments and trade settlements.
About FDUSD
First Digital USD (FDUSD) is a fully 1:1 USD-backed stablecoin with uncompromising trust by design offering integrity, accessibility and scalability. FDUSD is always redeemable on a one-to-one basis for cash. Reserves are fully backed by highly liquid cash and cash equivalent assets, held in fully segregated bankruptcy-remote holding structures. Collateral is safeguarded by a top-tier, qualified custodian with a trust license for seamless asset protection and regulatory compliance, with independent attestation reports published monthly. FDUSD is issued onshore out of Asia, is the first native stablecoin on the Sui network and is currently available on Ethereum and BNB Chain. FDUSD has since become one of the top five USD-denominated stablecoins by market cap. To learn more about FDUSD, visit www.firstdigitallabs.com
About Terminus
The Terminus Payment Association is pioneering the convergence of Web3 and the real-world economy, revolutionizing how people pay offline merchants. Led by visionary initiators in public chain, crypto payment aggregation, and PayFi protocol, it seamlessly connects cryptocurrency ecosystems with everyday retail transactions through banks, e-wallets, and fiat settlement networks. Through its groundbreaking Universal Payment system, users can effortlessly pay in crypto at local shops, restaurants, and merchants who receive fiat currency using their existing QR codes. Launching in Thailand and expanding across Asia-Pacific, Terminus is transforming crypto payments from a niche technology into an accessible reality of daily life.
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About AEON
AEON is a next-generation payment protocol designed to unify the standard of crypto payments and enable real-world connectivity. By simplifying the integration, processing, and settlement of crypto payments, AEON offers low-cost, verifiable, and secure payment processing.
Developing a robust crypto payment standard akin to Visa, AEON aims to connect web3 infrastructures with mass adoption use cases, ensuring adaptability, liquidity, and efficiency and supporting on-chain payment methods such as subscriptions, global fiat rails, and tips.
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SOURCE AEON
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