Aeon has entered into a strategic partnership with AB DAO to better connect digital assets with real-world utilities, a long-term goal of the blockchain space. Although decentralized finance thrives within its own ecosystem, using on-chain assets for everyday purchases such as buying coffee has proven to be technically and practically difficult. This new partnership aims to eliminate these barriers by facilitating practical cryptocurrency payments in everyday commerce, and could represent a major leap into the mainstream.
Integrate AB chain assets into global commerce
Recently, AEON announced through its official channels a partnership focused on integrating AB Chain assets into the AEON Pay infrastructure, including support for AB Chain and stablecoin AB. $USD1 It moves these tokens from speculative or governance-type assets to functional currencies used for “real-world payments.”
By leveraging Aeon’s established payments network, AB Chain members will be able to use AB Chain assets to transact at over 50 million merchants worldwide. This wide range of retailers offers something for everyone, from high-end retail and local service businesses to your first cup of coffee of the day. The main benefit for members is the “scan-to-pay” functionality, similar to traditional mobile payment systems such as Apple Pay and AliPay, with the added benefit of the security and autonomy of blockchain technology.
AEON Pay’s role in the Web3 ecosystem
Aeon wants to form a Web3 payment ecosystem. Aeon’s flagship product, Aeon Pay, simplifies blockchain transactions by reducing the need for users (consumers/sellers) to understand technical aspects. Users can pay more easily, and businesses don’t have to worry about converting crypto payments to fiat or securing funds until they become fiat.
The application adopts a social-first finance model with Telegram as its next partner by allowing all users to access products through Telegram with AEON Pay bot. This is in line with the growth trend of Telegram native finance, and a large enough user segment will drive a broader level of acceptance across Web3 products.
Utility migration with stablecoins and scalability
Introduction of AB-$USD1 is an important aspect of this relationship. While volatile assets like AB are great for ecosystem growth, stablecoins are the engine of trade. On the other side of the coin, by providing a medium of exchange pegged to the dollar on the AB chain, this partnership protects both sellers and consumers from the standard price fluctuations of digital assets.
The move follows a series of developments in the crypto payments space, with infrastructure providers targeting low-latency, high-throughput solutions to bring competition to traditional financial networks such as Visa and Mastercard. According to CoinMarketCap data, the need for stablecoin utility in emerging markets is at its peak, which makes the timing of the partnership between AEON and AB DAO very strategic.
conclusion
Aeon’s partnership with AB DAO marks the evolution of the world of payments in Web3. It is also a demonstration that both organizations have combined their asset and merchant bases as a basis for developing a blueprint for how decentralized finance will be accepted into mainstream commerce. As scan-to-pay solutions grow in popularity, the lines between digital wallets and POS will further dissolve, ushering in a whole new era of global financial inclusion.
