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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