Coinspeaker
BVNK Unveils New Self-Custody Platform Layer1, Aims to Offer Enhanced Stablecoin Payments to Businesses
Global payment infrastructure leader BVNK has introduced its newest brainchild Layer1, a self-custody digital asset solution designed to streamline stablecoin payments for businesses. According to the announcement, which was made via a blog post, this new platform will help companies integrate stablecoins into their payment systems quickly and securely. That is, in a way that eliminates the complexities associated with creating in-house blockchain payment systems.
BVNK Seeks to Simplify Digital Assets Payments for Businesses with Layer1
To address the challenges that businesses face when building these blockchain-based payment solutions, BVNK’s Layer1 comes with a suite of automated features. These features include wallet creation, asset management, reconciliation, and seamless third-party integrations.
With these features, BVNK believes that businesses that use the solution can now afford to focus their time and resources on core functionalities. That is, as opposed to committing significant time and manpower to developing custom blockchain software.
Besides, a major aspect of the Layer1 solution is self-custody. This means that businesses can also exercise complete control over their digital assets and private keys.
Speaking about the latest development, BVNK’s co-founder and CTO Donald Jackson acknowledged that each blockchain has its own intricacies. However, he believes that the experience that the team has been able to gather through the years of building global payments infrastructure would come in handy for Layer1. That is, as it “empowers businesses to launch digital asset payments without requiring in-depth blockchain expertise,” he added.
Away from the simplicity that it brings, Layer1 also boasts a self-custody that is quite unlike other solutions in the market. By giving businesses complete control and ownership of their data and digital asset keys, it has addressed growing industry concerns about data security and centralized control within blockchain platforms.
Keen to Make Stablecoin Payments Globally Acceptable
For BVNK, work might still not yet be done. That is because it has a long-standing commitment to fostering the adoption of stablecoin payments.
Notably, BVNK has actively expanded its stablecoin offerings in recent months. In May, the company integrated the PayPal USD (PYUSD) stablecoin, broadening access to digital currencies within its ecosystem. Further, BVNK’s approval as a member of the PYUSD ecosystem also grants it the ability to directly mint and burn PYUSD tokens for its clients.
Layer1 might be its latest offering, but certainly, the company will continue to seek more ways to empower businesses to participate in the digital asset revolution with greater ease and security.
