SpacePay (SPY) is a new crypto solution that is building a fintech solution for everyday crypto transactions. Based out of London, the project is on a mission to tackle the challenges that stand in the way of crypto adoption.
It aims to give the best of traditional banking and blockchain innovation for both businesses and shoppers.
Although cryptocurrencies are popular among investors, we have yet to see them in mainstream retail. They don’t justify the term currency in cryptocurrency now. But soon might, if solutions like SpacePay unfold as envisioned. SpacePay’s MVP is already in beta.
The project’s goal is to create a seamless pathway for businesses to crypto. For this, it streamlines and simplifies the operations. After all, convenience is central to the mainstream adoption of any product.
With a goal to make crypto payments as mainstream as traditional methods, SpacePay integrates into existing Point-of-Sale (POS) systems. Retailers don’t have to overhaul their hardware to start availing SpacePay’s services. The Android-based app is all they need to get started and accept crypto payments.
Making crypto payments is easy and flexible for crypto investors, too. Using near-field communication technology, the project enables encrypted transactions where only authorized devices can interact. Since the transactions are short-range, users just need to tap a smartphone or smartwatch to make a payment.
Another key feature of the platform is instant settlement. Transactions are processed in real-time, ensuring immediate access to funds for businesses. The service is low-priced for merchants and comes at zero cost for customers and payment companies.
SpacePay is a scalable solution. The vision is to cater to businesses of all scales across the globe. For this, the project will strictly adhere to the compliance specific to each jurisdiction. The product will also be compatible with online stores.
Using SpacePay, customers can pay with crypto as easily as swiping a card. They can shop using their idle BTC, ETH, and SOL without going to an exchange first. The platform supports more than 325 different cryptocurrency wallets. They can make a crypto payment by just scanning a QR code at the check-out counter.
Shoppers can use a wide range of wallets and cryptocurrencies to buy products with SpacePay. But what about businesses? How are they going to tackle the volatility of crypto? It has the potential to pull down their profits in bear markets.
Merchants receive SpacePay payments in their chosen fiat currency. Not crypto. They can access these funds instantly with no waiting period. It empowers them to embrace the new demographic of crypto users without worrying about volatility and technical challenges.
The solution is also secure. SpacePay implements robust protection measures. The decentralized architecture of blockchain eliminates the risk of manipulations. NFC technology enables encrypted short-range transactions.
SpacePay is supported by investors worldwide. The private presale of $SPY, the native crypto of SpacePay, raised $750,000. The ongoing public presale is about to touch the $500,000 mark.
$SPY is not just a payment crypto of the ecosystem. It will be integrated with more utilities as the ecosystem evolves. For example, early holders of SPY will have access to new products and services. They will also get opportunities to earn passive income through a planned revenue-sharing model.
To promote early investments, the presale has a dynamic pricing structure. It rises over time.
Although the crypto market is flooded with projects, there are few that focus on creating real-world impact. That explains the appeal of SpacePay, which stands apart from the speculative crowd.
The vision to integrate crypto with traditional retail has large growth potential. It wouldn’t be surprising to see SPY explode in 2025 and make the top lists.
To join the presale, investors will need a crypto-compatible wallet. There are no whitelisting or registration processes. A broad range of cryptocurrencies, including ETH, BNB, and MATIC are supported, in addition to bank fiat cards.
For the latest updates about the presale and project developments, join the SpacePay community on X (Twitter) and Telegram.
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