Given the nature of the growing digital global economy, small and medium-sized businesses (SMEs) continue to confront the need for moving money across borders quickly, easily and most importantly, inexpensively.
Traditional finance systems have and continue to be expensive, slow, sprawling systems that are laden with bureaucracy and disorganisation, especially when used for cross-border transactions. Fortunately, stablecoin and API solutions are working on changing the status quo.
One of the greatest innovations at the current moment is the emergence of stablecoin payment APIs that allow for quick, affordable and compliant processing of payments on a global scale. Leading the charge to this new frontier is Due, a financial platform that is empowering SMEs to move money between any two parties around the world.
What Are Stablecoins and Why Do They Matter for SMEs?
Stablecoins are cryptocurrencies that derive their value from a stable asset, such as a fiat currency, including the US dollar or euro. Unlike Bitcoin or Ethereum, the value of stablecoins doesn’t swing wildly. Because of this, they are easy to spend and are particularly beneficial for those running businesses across borders.
What Do Stablecoins Do?
- Allow for settlements to be much quicker than traditional wire transfers.
- Cheaper than making cross-border payments, without unexpected fees from banks.
- More liquid, meaning businesses can access their funds in an instant.
- Easier access to an overall global audience/ customer base, without the need for international bank accounts.
All these points mean that SMEs can now make quicker, more cost-effective and more frequent financial transactions.
The Rise of Payment APIs
Where the innovation really hits the road is the API — Application Programming Interface — settlement platforms and tokenisation enable businesses to integrate directly with the global financial system.
An API for making global stablecoin payments allows an SME to rationalise, streamline and automate transactions inside their existing platform or systems, removing manual work, reducing errors and ensuring compliance with global financial regulations. It empowers businesses that used to have manual processes with what is essentially a tool previously only available to the multinational corporations.
Introducing Due: Streamlined, Scalable and SME-Friendly
One of the leading players to look out for in this space is Due. Built from the ground up for SMEs, Due offers a plug-and-play API for simple integration with your existing solutions, enabling rapid and effective domestic and cross-border payments powered by stablecoins.
Here’s how Due is different:
Regulatory Compliance Mechanism Out of the Box
Other than the near-instant velocities and lower fees, Due allows businesses to conduct transactions in ways that align with regulatory requirements in multiple countries — something that’s crucial for SMEs seeking to expand their footprints internationally (minus compliance setbacks).
Multiple-Stablecoin Support
Whether you want to make transactions via USDC, EURC or any Due-integrated stablecoins, the Due’s API lets you support multiple currencies without friction, minimising the need for conversions or exposure to foreign exchange (FX) risks.
Real-Time Transparency Across the Board
With full visibility on properties and real-time confirmations, any corporation’s finance team can track payments on their terms — gone are the days when you have to make assumptions about where your money is.
Well-Documented, Modern-Programmer-Friendly Design
Modelled for ease-of-use, the API comes complete with comprehensive documentation, rapid integration and quality customer support. Whether you’re a fintech startup or transportation company, getting started with Due’s API won’t take up much of your time. Oh, and they also give back to users!
The SME Advantage: Levelling the Playing Field
Historically, SMEs have been held back by the difficulty and expense of international finance, while larger businesses have thrived. However, platforms like Due are changing that.
By providing SMEs with a stablecoin payment architecture that is reliable, secure, regulatory-compliant and economical, Due is helping smaller companies to be more competitive in this infrastructure. And this is more than just a “nice-to-have” — it represents a performance-enhancing strategy that can boost growth, sustainability and competitiveness.