aBey Foundation Unveils Crypto-To-Fiat Blockchain Platform Supporting Everyday Payments via Credit Cards
Co-founder of aBey Foundation, Dr.Ciprian Pungila, unveiled aPay, a new kind of payment processing platform that facilitates the cryptocurrency investors to use their holdings for day-to-day payments through integration with credit card. aPay was unveiled at BlockShow Asia 2019.
aPay customers can remit their cryptos to the platform and receive access to three different credit cards that work with Visa, UnionPay and MasterCard. With such a setup, cryptocurrencies can be used for day-to-day payments.
On the basis of unique blockchain platform built by the aBey Foundation, aPay guarantees to be a quick blockchain that presents an altogether different architecture and super charged computing that would facilitate quicker dealings.
Punglia explained the benefits of the blockchain platform:
“aBey is designed and built to be among the fastest and most flexible open source chains in the world, providing a practical solution for common e-commerce use cases.”
The co-founder unveiled that aPay backs Bitcoin Cash, Bitcoin, Ethereum Classic, Ethereum, Dash, Litecoin, EOS, ZCash, and aBey’s native cryptocurrency. Punglia further pointed out that there is no need for vendors to accepted cryptocurrencies in order to use aPay. As long as a vendor accepts traditional credit cards, aPay’s platform will automatically swap from crypto to fiat currency.
Pungila also said that it is not sure how blockchain technology will have an effect on financial sector, but it is almost sure that apps based on distributed ledger will transform the tech and financial domain:
“The financial technology industry has been impacted by the development of blockchain technology, but there is still not much clarity on how it will change our lives. It is certain that there is no turning back, and therefore we must build applications and solutions to accept and develop this change.”
The co-founder also pointed out that eBey’s blockchain backs high-speed dealings with the intention of supporting e-commerce necessities, facilitating repayable dealings, commission settlements, and home loans among others.