Metroblox unveils USDC-backed stablecoin for transport payments

Metroblox has introduced Ride USD, a stablecoin backed by USDC, designed for proscription payments.

The institution presumption the caller offering arsenic a “low-cost, real-time” colony strategy for transport-related payments.

The caller integer token, issued connected the Solana blockchain, is backed 1:1 by USDC reserves.

It is positioned arsenic a dollar-pegged instrumentality optimised for regular mobility spending.

According to Metroblox, transport operators tin usage Ride USD to little processing expenses, portion continuing to usage their existing hardware, entree power systems and point-of-sale devices.

Ride USD volition service arsenic the transactional furniture for the Ride Ecosystem, which Metroblox presents arsenic a fiscal operating strategy for the transport sector.

The level is designed to alteration instant colony of revenues betwixt antithetic operators and to enactment mobility programmes, subsidy schemes and multi-modal transport offerings astatine scale.

Metroblox pointed to the broader enlargement of stablecoins, describing them arsenic a halfway gathering artifact successful integer finance.

The institution cited planetary stablecoin transaction flows surpassing $30tn successful 2025.

However, it noted that astir mundane user expenditures, including transport, person not yet seen benefits.

The steadfast said Ride USD is intended to code this gap, portion fitting “seamlessly” into existing idiosyncratic journeys and infrastructure.

Metroblox besides referenced caller legislative developments successful the US, including the GENIUS Act, which it said specify standards for reserve backing, custody and supervision of stablecoins.

This, the institution said, offers a compliant operation for the usage of integer dollars specified arsenic Ride USD successful consumer, endeavor and public-sector transport systems.

The institution added that this regulatory model is intended to springiness operators, nationalist agencies and commercialized partners greater assurance successful adopting stablecoin-based colony for day-to-day transport payments.

Metroblox laminitis and CEO Josh Squire said: "Transportation payments are typically small, high-frequency transactions, which makes accepted merchant fees disproportionately expensive.

"By utilizing Solana's high-speed, low-cost settlement, Ride USD makes it imaginable to process mundane mobility payments astatine a fraction of the outgo - portion settling instantly and transparently."

"Metroblox unveils USDC-backed stablecoin for transport payments" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.