Smartpay, a fintech infrastructure company known for enabling stablecoin-based payments since 2019, has been acquired by publicly traded commerce platform Rezolve AI in a deal that highlights the acceleration of the convergence of digital assets and AI-driven e-commerce.
The acquisition was announced Tuesday, but financial terms were not disclosed. Rezolve said that with this move, it is partnering with Tether, the issuer of the USDt (USDT) stablecoin, to strengthen its digital asset payments initiative.
According to the announcement, Smartpay processed more than 19 million commercial transactions in the 12 months ended September 30, valued at more than $1 billion in USDt.
Smartpay, which operates in Latin America and Central Africa, allows consumers to pay using stablecoins such as USDt, while merchants typically receive payments in local fiat currencies. The company's model combines crypto payment capabilities with instant fiat conversion to reduce volatility and simplify implementation.
Smartpay operates in the broader market of cryptocurrency merchant payment services, including major players such as BitPay, the oldest cryptocurrency payment processor, and Coinbase Commerce.
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The acquisition supports Rezolve's plans to build a blockchain-based payments network that allows consumers to pay with digital assets while preserving instant fiat transactions for merchants.
“Smartpay provides Rezolve with a proven, transaction-tested foundation to scale our digital asset payments initiative globally,” Daniel M. Wagner, CEO of Rezolve AI, said in a statement.
sauce: cointelegraph
Related: Ohio approves vendor to process cryptocurrency payments for state services
Payments and AI drive the adoption of cryptocurrencies
The use of cryptocurrencies in payments has long been considered a major use case as well as a major bottleneck in blockchain adoption. Now, new research by Reown and YouGov suggests that payments and AI are becoming two key drivers of cryptocurrencies’ next phase of growth.
Reown CEO Jess Hougrave said the findings reflect the growing recognition that by incorporating digital assets into everyday transactions and intelligent systems, both payments and AI address how cryptocurrencies can become useful and trustworthy.
This intersection is attracting attention across the industry. Announced in partnership with Coinbase, Google's Agent Payments Protocol allows AI agents to autonomously initiate crypto transactions, primarily using stablecoins. This collaboration highlights the growing synergies between AI technology and blockchain-based payment infrastructure.
Industry leaders agree. As reported by Cointelegraph, Galaxy Digital CEO Mike Novogratz predicted that AI agents will become the biggest users of stablecoins in the future given the need for fast, programmable and borderless digital payments.
Related: Joe Rubin confirms SWIFT is using Linea to build new payment system
