Fuse unveils Charge, the first Web3 merchant bank 
Cryptocurrency Oct 9, 2024 Share
Fuse, a blockchain payment platform, has unveiled Charge, the first Web3 merchant bank offering a wide range of crypto and fiat payment solutions, as reported to Finbold on Wednesday, October 8.
The new platform will support blockchain businesses and cover services from payments to invoicing.
Charge — Fuse’s Web3 bank
Targeting small- to medium-sized businesses and offering competitive transaction fees of just 0.5%, Charge enables transactions in various crypto and fiat currencies, eliminating obstacles in international trade.
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Unlike traditional banks, Charge allows clients to maintain full control over their assets at all times as a flexible solution in both Web3 and Web2 spaces, including crypto startups and e-commerce businesses.
Likewise, the Web3 bank offers full Application Programming Interface (API) integration, making it easy for developers to embed Charge into their existing systems.
Additionally, Fuse promises strong security measures, ensuring clients have complete visibility and control over their assets.
Mark Smargon, CEO of Fuse, commented:
“Advances in Web3 infrastructure and tooling have made it possible to experience digital banking onchain, complete with neobank-tier products and services. Charge combines these innovations into a single platform that enables merchants to enjoy the benefits of non-custodial payments and invoicing, coupled with a fiat off-ramp for seamlessly moving assets to the traditional financial system.”
More flexibility in the Web3 payment sector
As cryptocurrencies are becoming more mainstream in cross-border and e-commerce, Fuse seeks to tackle obstacles such as high fees, security concerns, and ease of use.
To mitigate these issues, Fuse has developed a non-custodial solution that leverages Web3 to complement fiat systems rather than replace them.
The already large Web3 payment sector is expected to reach $3 billion by 2025, with an annual growth rate of 40%, and over 60% of businesses appear willing to accept crypto payments—if they can be made secure and straightforward.
Charge aims to accelerate crypto payment adoption by addressing usability, privacy, and trust issues.