Singapore-based payments platform HitPay has formed a strategic partnership with Triple-A, a licensed crypto payment solutions provider, to bring stablecoin acceptance to small and medium-sized enterprises ( SMEs ).

The partnership, regulated by the Monetary Authority of Singapore ( MAS ), enables HitPay’s network of over 20,000 merchants to accept stablecoin payments and receive instant settlement in fiat currency, thereby shielding them from digital currency volatility.

According to HitPay, the partnership combines its strengths in merchant acquisition, checkout, and settlement with Triple-A’s licensed crypto payment rails and instant conversion technology. Customers pay in stablecoin, Triple-A locks the rate and converts it instantly to fiat currency, and HitPay settles and reconciles as seamlessly as any other payment.

Both companies are MAS-regulated – HitPay as a major payment institution ( MPI ) and Triple-A as an MPI offering digital payment token services, ensuring enterprise-grade compliance, security, and consumer protection.

The demand for digital currency payments from both consumers and merchants has reached an all-time high, particularly in Singapore. A recent survey by Singapore Business Review revealed that six in 10 businesses plan to accept crypto payments within the next two years.

This merchant interest is fuelled by growing consumer adoption, with Chainalysis reporting that local merchant services received nearly US$1 billion in crypto during the second quarter of 2024. Globally, blockchain transaction volumes are on track to surpass US$27 trillion in 2025, signalling a major shift in global commerce.

“Our merchants are always looking for ways to reach new customers without adding operational risk,” says HitPay chief executive officer Aditya Haripurkar. “By partnering with Triple-A, we make stablecoin acceptance as simple as any other payment method. Merchants are settled in fiat, reconciled in HitPay, and supported by MAS-regulated providers on both ends.”

Triple-A CEO Eric Barbier adds: “We’re excited to partner with HitPay to help businesses unlock the benefits of stablecoin payments. Together, we enable businesses to reach crypto-native consumers while removing volatility and keeping compliance straightforward.”