German cryptocurrency IOTA is being piloted in the commercial sector by prominent companies such as Bosch and VW to explore the potential of Tangle technology. Through a new partnership, the London-based fintech Zeux plans to bring IOTA payments to many stores across the US and Europe.
London-based fintech Zeux has partnered with IOTA to enable cryptocurrency payments at retail locations that accept Apple Pay and Samsung Pay. The rollout is scheduled to begin in the United States in April and expand into Europe thereafter.
We are excited to announce we are adding another #cryptocurrency #IOTA token for crypto #payments in @ZeuxApp https://t.co/MYnbon8btQ@iotatoken @frankjzhou @DavidSonstebo @DomSchiener @NickAyton @popochen888 @pomp
— Zeux (@ZeuxApp) March 21, 2019
Zeux offers customers a streamlined way to pay for goods, invest funds, and access additional financial services from a single platform. As a digital banking solution, Zeux supports both fiat and cryptocurrencies equally. Customers face no fees for account opening, transfers, or topping up their accounts.
David Sønstebø, one of IOTA’s founders, highlighted the partnership’s potential, saying (translated):
This partnership with Zeux provides a significant benefit to the IOTA ecosystem. We are very excited about it. IOTA can now be used as a payment method at merchants that accept Apple Pay and Samsung Pay. Combining existing payment infrastructure with an alternative currency is a major step toward mainstream crypto acceptance.
Frank Zhou, founder and CEO of Zeux, emphasized that partnerships like this can accelerate adoption quickly and that more such collaborations are needed worldwide to bring cryptocurrencies into the mainstream (translated):
As a distributed ledger with no transaction fees, the Tangle is a very promising technology for building our customer-facing DApp. This is another step on our journey. We look forward to working with IOTA and giving their user base more financial freedom.
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