NEW
YORK, June 25, 2024 /PRNewswire/
-- London's most promising crypto
startup is probably the most promising startup in fintech, period.
Few have heard of SpacePay, but give it a year, and it will likely
be a household name.
In a nutshell, SpacePay is a crypto payments
provider that lets crypto holders pay for goods and
services using their digital wealth. On the merchant side, vendors
can accept crypto while its instantly and seamlessly
converted to fiat as if it was a traditional payment.
It could be argued similar rails already exist. One need only
look at the proliferation of crypto cards by giants
such as Visa or MasterCard. But where SpacePay ups the present
offerings is in its ease-of-use.
Currently, the easiest options for crypto payments
require some sort of transfer of funds, from
customers' wallets into a specific application wallet.
Other options are even clunkier. This lack of optimization first
inspired SpacePay founder and CEO Maxwell
Bunting to begin developing an alternative while he was
still only a teenager:
"Three years ago, I was in the situation where I
had a tonne of crypto, but in actual cash value, I was
completely broke. I was 19 years old, just finished school, but I
had no cash. So I was going around all these stores looking for
places to spend my crypto and looking for solutions.
None of them really fit: I either had to pay too much or had to
stake some sort of token I didn't really want to hold. It was all
way too complicated, And so I just thought there's got to be a
simpler way to do this and created SpacePay!"
SpacePay: Basically Revolutionizing Crypto
Payments
When it launches, SpacePay will be widely available on most
existing point-of-sale card machines, allowing millions of
crypto holders to finally be able to spend their
crypto.
On both sides of a transaction, it has never been easier to pay
with crypto. Customers simply go to purchase the goods
they want, merchants then input the price and generate a QR code,
which the customer scans. This takes the customer to a payments
page where they can select the crypto they want to pay
with and the wallet they want to pay from. After this, the payment
is sent. SpacePay is currently compatible with over 325 different
wallets.
SpacePay's revolutionary ease of use makes it look
effortless, but it was in fact the product of three years of hard
graft, including a stint at Barclays' fintech
incubator, Eagle Labs.
SpacePay Also Has Its Own Governance and Rewards Token,
$SPY
Not to be outdone by the card companies, SpacePay also has its
own American Express-style points-based rewards and governance
token, $SPY.
SPY is paid out to frequent SpacePay users. Those who spend big
through the platform get a percentage of their money back through
an airdrop of the tokens.
Although SPY cannot be used as a payments option within
SpacePay, it entitles holders to receive a small percentage of the
company's revenue per quarter, alongside granting them
voting rights on the future of the protocol, like any typical
governance token.
Bunting says of SPY: "We're committed
to maintaining a high level of transparency in all of our
operations. Our token design enables stakeholders to gain
comprehensive insights into our business processes. We facilitate
regular interactions between token holders and our teams,
organizing quarterly meetings that focus on different departments
such as sales or marketing, depending on our communities
preference.
Additionally, token holders are given voting rights, allowing
them to influence decisions regarding geographical expansions and
potential integrations with other tokens. This framework not only
empowers our stakeholders to have a voice in our strategic
directions but also rewards them for their loyalty and engagement
with our services.
SpacePay's presale launched in early June and early
supporters have quickly poured in over $200,000 to help the team raise funds to
develop and disseminate the tech further. It is likely to end at
the close of summer and will be followed by an Initial Exchange
Offering (IEO).
SpacePay may have been operating in stealth mode these last few
years, but it's about to surface, and when it gets
here, it has everything it takes to become the number one in-store
crypto payments provider.
Keep up to date with SpacePay news over on X and
Telegram.
Sign up to the mailing list on the SpacePay site.
Join SpacePay's $SPY presale here
Contact
Maxwell Bunting
maxbunting420@gmail.com
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SOURCE SpacePay