Flexa payment platform has unveiled an app that enables consumers to shop and pay for products with Cryptocurrencies. The service covers 15 major US retailers who are the current signatories of the new pay deal.
The Flexa launch was made in New York City during the Consensus conference of Monday (May 13).
Making Cryptos Usable In The Real-Life Marketplace
One of the factors holding back the mass adoption of Cryptocurrencies in the world has been termed as the lack of liquidity. It is crucial for any Crypto holder or prospective investor to note that liquidity is not only proffered by Crypto exchange platforms that allow users to buy Crypto or Fiat pairs of their Tokens but also online and offline points of sale that accept Cryptos such as online stores and physical shops.
In this case, the app from Flexa is set to greatly enhance the adoption of Cryptos as currencies. It is also likely to boost the velocity of Cryptos which can help in stabilizing the Cryptocurrency market that has been volatile at various points in history.
Retailers Accepting Cryptos Are Popular And Well-Stocked
When making the announcement to attendees of the Consensus conference, the company’s co-founder, Tyler Spalding, revealed that Spedn, as the app is called, is already live and within reach of mobile phone users.
Spalding goes ahead to confirm that stores such as Crate & Barrel, Whole Foods Market, Office Depot, Nordstrom, Lowe’s, GameStop, Bed Bath & Beyond, Baskin Robbins, Caribou Coffee, Barnes & Noble, and others have connected their sales platforms to the Flexa network in order to start accepting Crypto payments. More merchants are expected to come onboard soon after the launch.
Crypto Payment Options On Flexa
There are 4 Cryptos that the Flexa network will support on its Spedn app. The first one is Bitcoin (BTC), Ethereum (ETH), Winklevoss-founded Gemini Dollar Stablecoin (GUSD), and Bitcoin Cash (BCH).
It is not yet clear whether Flexa will add more Cryptos to be supported by Spedn down the roadmap.
How Shoppers Can Get Started
At this point, it is only the attendees who can be able to get the Spedn app as it has been codenamed by Flexa. Later on, the app itself will invite users according to the official introduction of the application.
Transactions will be carried out in three simple steps. The first step involves users debiting their Spedn wallets with the four Cryptos that are supported. The second step is to tap an item at the connected stores to scan a code and complete the purchase process.
Spedn Has Been Developed For 16 Months
Flexa reveals to all prospective users that Spedn app has been in the making for the last 16 months where engineers focused on ensuring that the platform has low fees and zero likelihoods of fraud.
Spedn is due to make “Cryptocurrencies spendable everywhere” according to Spalding. The Flexa chief further alludes to the growing model of incorporating Cryptos on payment cards where he points out that he Spedn model offers a different approach that directly connects merchants to their clients’ wallets for easy and seamless payment transactions.