Partnership between Taxbit and Mural Pay enables stablecoin payments for customers

Taxbit and Mural Pay Partner to Revolutionize Enterprise Payments with Stablecoins

In a groundbreaking move, Taxbit, a leading enterprise accounting solution provider, has partnered with Mural Pay to offer a payments module for stablecoin payments. This partnership marks a significant step forward in the integration of stablecoins into mainstream business operations.

Aaron Jacob, VP of Enterprise Accounting at Taxbit, highlighted the transformative potential of stablecoins and payments in the corporate world. "Stablecoins are revolutionising the way companies transact and manage cash," he stated. "With this partnership, any business, including our clients, can now leverage the benefits of stablecoin payments without needing to become a blockchain or accounting expert."

The stablecoin industry is driving mainstream and enterprise adoption of digital assets. Last year, the total transfer volume of stablecoins was a staggering $27.6 trillion USD, surpassing the combined value of Visa and Mastercard transactions in 2024. Chris Fernandes, CTO and Co-founder of Mural Pay, emphasised the global, 24/7, and cost-effective nature of stablecoin transactions: "Stablecoins move globally, at a fraction of the cost of traditional methods."

The partnership between Taxbit and Mural Pay aims to make cross-border payments quick, cost-effective, and secure. The new product module offers around-the-clock payments and collections functionality, as well as invoice generation and tracking features. This allows select Taxbit clients to invoice customers directly and accept stablecoins as payment.

The collaboration also addresses the challenges posed by on-chain payments, such as tracking, reconciling, and managing tax and accounting compliance. Mural Pay has built infrastructure to simplify the user experience of adopting stablecoins, and Taxbit will leverage Mural Pay's technology to offer invoicing and payment functionality to its customers globally.

The partnership is a testament to the growing trend of enterprises adopting stablecoin technology. According to Chris Fernandes, there will be an exponential increase in the number of institutions adopting stablecoin technology. This shift reflects the broader industry trend toward productized, enterprise-grade stablecoin deployments that are gradually being embedded into business operations.

With this partnership, Taxbit is providing the tools and solutions companies need to support these critical functions. The company is now offering a full stack of financial services under its brand, including payments, invoicing, treasury management, tax reporting, and operational accounting. This move positions Taxbit as a leading player in the evolving landscape of stablecoin payments in enterprise operations.

Despite the regulatory challenges, stablecoins are transitioning from trading instruments to enterprise-grade financial tools. Companies like Transak are helping enterprises integrate stablecoins within existing finance and compliance frameworks. Regulatory uncertainty remains a significant barrier to wider adoption, but the Taxbit-Mural Pay partnership is a concrete example of enterprises unlocking stablecoin payments to deliver faster, cheaper, and more efficient payment solutions.

In conclusion, the Taxbit-Mural Pay partnership is a significant stride towards practical, production-ready solutions that integrate stablecoins into core business functions like treasury, supply chain financing, and payments. This partnership exemplifies how enterprises are adopting stablecoins to address operational inefficiencies and costs typical in legacy payment infrastructures. As the industry continues to evolve, we can expect more partnerships and innovations that will further revolutionise the way businesses transact and manage their finances.

References: 1. Enterprise Adoption of Stablecoins: A Comprehensive Guide 2. Taxbit and Mural Pay Partner to Offer Stablecoin Payments Module 3. The State of Stablecoins in Enterprise Operations 4. Integrating Stablecoins into Existing Finance and Compliance Frameworks