Paystand launches Bitcoin-based stablecoin USDb for enterprise payments

The US dollar-backed token will roll out across Paystand’s network, which the company says has processed more than $20 billion in business payments.

Paystand is launching USDb, a US dollar-backed stablecoin built on Bitcoin-linked infrastructure for use in business payments, including accounts receivable, accounts payable, payroll and treasury operations.

According to Tuesday’s announcement, the token is issued on Bitcoin-linked rails, including Rootstock, and interoperates with infrastructure from Blockstream. It will roll out first across Paystand’s payments network, which the company says has processed more than $20 billion in volume for over one million businesses.

Santa Cruz, California-based Paystand is a blockchain payments company that provides accounts receivable and accounts payable infrastructure to businesses across North America and Latin America.