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Rezolve Ai teams up with Tether for crypto retail payments

Published 2024-12-04, 08:10 a/m
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LONDON - Rezolve Ai (NASDAQ: RZLV), a niche player in AI-powered commerce solutions with a market capitalization of $488 million, announced its collaboration with Tether to integrate cryptocurrency into everyday retail transactions. According to InvestingPro data, the company maintains impressive gross profit margins of 76%, though it faces challenges with short-term liquidity. This partnership aims to tackle the global merchant payment processing fees, which exceed $600 billion annually, by offering a new merchant fee-free payment system through Rezolve's Brain Checkout platform.

The integration of Tether's Wallet Development Kit (WDK) into Rezolve Ai's platform will enable consumers to use cryptocurrencies such as USD₮, Bitcoin, and others for daily purchases like groceries and transportation. The move is designed to make cryptocurrency a practical payment method, with the potential for real-time crypto-to-fiat conversions for merchants.

The initiative is seen as a step towards reducing the financial burden on retailers caused by payment processing fees and to simplify the consumer payment experience. Rezolve Ai's CEO, Daniel M. Wagner, stated that the company's goal is to "eliminate merchant fees and unlock the potential of AI and cryptocurrency to reshape the global payment landscape." While the company's vision is ambitious, InvestingPro analysis reveals the company is currently not profitable, with an EBITDA of -$26 million in the last twelve months. Subscribers can access 10+ additional ProTips and detailed financial metrics to better understand the company's potential.

Tether's CEO, Paolo Ardoino, expressed enthusiasm for the partnership, emphasizing the significance of embedding cryptocurrency into everyday shopping experiences to facilitate broader adoption. Tether's USD₮, the most widely adopted stablecoin, boasts 400 million users, with an expansion rate of 35 million new wallets each quarter.

Rezolve Ai's approach could transform the retail sector, valued at $30 trillion, by empowering businesses and consumers through a blockchain-based, AI-driven platform. The collaboration underscores both companies' commitment to innovation, accessibility, and sustainability in retail payments. Based on current metrics, InvestingPro's Fair Value analysis suggests the stock is currently overvalued, despite experiencing a significant 80% decline over the past six months.

This announcement is based on a press release statement, and it reflects the companies' expectations and projections, which are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements do not guarantee future performance and should not be relied upon as predictions of future events.

In other recent news, AI-driven commerce technology firm Rezolve Ai has entered into a significant partnership with Google (NASDAQ:GOOGL). The collaboration aims to transform the retail and consumer commerce landscape using AI and cloud infrastructure. As part of the partnership, Google Cloud will resell Rezolve Ai's Brain Suite, a set of AI-powered tools designed to enhance digital commerce experiences. This strategic partnership is projected to contribute significantly to Rezolve Ai's revenue, with over 50% of the company's forecasted revenues expected to be generated through this channel in the coming years.

In addition, Boral (OTC:BOALY) Capital has initiated coverage on Rezolve Ai with a Buy rating. The company has also upgraded its BRAiN Assistant platform, enhancing user experience and response effectiveness. Rezolve Ai has been active in forming strategic partnerships, including collaborations with Creative Dock, OXID, and ChatWerk. These partnerships aim to integrate Rezolve Ai's technology with venture building expertise, enhance online retail platforms, and streamline the way eCommerce merchants engage with customers on chat platforms, respectively.

These recent developments highlight Rezolve Ai's commitment to leveraging AI to enhance customer engagement and transactions in the digital commerce space. The company has also finalized a business combination with Armada Acquisition Corp. I, marking its debut on the Nasdaq Stock Market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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