Aliant Payment Systems, a U.S.-based provider of merchant services and payment processing, is developing a new domestic crypto payment product that offers merchants next day payouts, according to a press release.

The product, which was designed in-house, processes crypto payments for new and existing merchants and converts cryptocurrency to U.S. dollars. It features a new web interface, an API for e-commerce integration, mobile applications for IOS and Android, a virtual terminal with an email invoicing feature, and a risk monitoring tool and reporting.

Aliant has acquired a banking relationship with a publicly traded domestic bank to facilitate all payments for the new payment solution, which is fully compliant with current federal regulations and adheres to all KYC and AML rules.

"Aliant is proud to be the one of the only processors that currently offers merchants credit card, debit card, and crypto payment solutions, but we needed a sustainable, domestic solution to better service our merchants," Aliant CEO Eric Brown said in the release. "Our new crypto solution is a scalable, long-term solution that offers faster payouts, is more cost-effective and accurate, and is compliant with federal banking regulations at all times."

Aliant became one of the first payment processing companies to offer merchants the ability to accept cryptocurrency payments in September. In May it announced a partnership with iPayment, which opened its crypto solution to over 137,000 merchants.