How COINQVEST's payments solutions empower merchants to globalize their business with Stellar

COINQVEST

COINQVEST is an all-in-one enterprise payment platform built on Stellar, offering programmable cross-blockchain settlement for merchants. Thanks to COINQVEST’s well-documented and developer-friendly API, merchants can conduct transactions on the Stellar network, which are recorded to its ledger, routed through the COINQVEST platform, and paid out in the merchant’s fiat or cryptocurrency of choice.

COINQVEST has been a long-time member of the Stellar ecosystem, most recently being awarded a grant through the Stellar Community Fund.

As business becomes increasingly globalized and omnichannel, merchants want to conduct fast, affordable, and scalable transactions in multiple currencies, including cryptocurrency. However, since regulations surrounding the usage of cryptocurrency vary country-by-country, merchants find it difficult to understand how to keep their businesses compliant while serving a global audience.

After hearing how merchants were becoming increasingly receptive to cryptocurrency, COINQVEST set out to build an all-in-one platform where merchants can accept payments in both crypto and fiat. Their goal is to allow online merchants to accept digital currencies from their customers and directly settle these payments in the fiat currency of their choice, including the US Dollar, Euro, Brazilian Real, Argentinian Peso, and more.

When considering what blockchain would best support their robust solution and facilitate transactions at high speeds and low costs, COINQVEST ultimately decided to build on Stellar.

Interoperability

• Aware that merchants worldwide would want to use their product, COINQVEST prioritized developing on a blockchain that could support transacting in multiple fiat and digital currencies.
• On Stellar, financial institutions can issue assets that represent any form of value and establish ramps that allow value to move on and off the network. These institutions are called anchors.
• By integrating with multiple Stellar anchors, COINQVEST can now easily facilitate intra- and cross-border transactions in the merchant’s pre-selected currency.

Low Fees and Speed

• For merchants who want to scale their businesses, transaction fees on traditional payment systems can grow prohibitively expensive. As transactions scale and settle on Stellar, the fee remains extremely low – less than a fraction of a cent. 
• Since settlement time is so quick on Stellar, COINQVEST is able to guarantee that a conversion from a price-volatile currency – such as crypto – will pay out to the amount of fiat that merchants expect.

Ease of Use

• COINQVEST emphasizes user-friendliness, providing comprehensive software developer kits (SDKs), code examples in several programming languages, API documentation, and shopping cart plugins. Once the REST API or plugin is fully integrated with their checkout page, merchants can instantly take advantage of Stellar’s payment rails to accept crypto and fiat. 

Transparency

• The Stellar network reaches consensus and updates the ledger with the latest set of transactions every few seconds. This data is then routed to COINQVEST’s platform, ensuring an accurate and up-to-date transaction history that merchants can reliably consult to keep track of payments.