More awareness for Elrond as the Proof-of-Stake (POS) platform integrates fiat-to-crypto platform MoonPay.
This integration will make it possible for Elrond users to carry out payment transactions using several payment alternatives. Alternatives like Apple Pay, Samsung Pay, Visa, Mastercard, bank transfers, etc.
Crypto-to-fiat fintech platform MoonPay boasts of an easy onboarding feature on its website. However, its most notable feature is definitely its ease of integrating with third-party applications and websites. With this in mind, Crypto merchants irrespective of their geographical location can now seamlessly include cryptocurrencies to the list of services they render. MoonPay makes it easy for first-timers, especially e-commerce platforms in the crypto space to easily make the transition. The fintech startup is currently available in 162 countries including the United States, European Union countries, Japan, India, and South Korea.
Details of the partnership
According to an official blog post, the integration will connect MoonPay’s over 100 startups to the Elrond ecosystem. Subsequently facilitating more awareness of the entire Elrond ecosystem to not just more users but e-commerce platforms, and business operations.
Elrond first integration of MoonPay is expected to take place on both its website and its native wallet. Interested persons from the 162 countries will be able to purchase $ERD at favorable rates. Notably, plans are also in place to allow them to participate in Elrond staking amongst other DeFi tools from their phones. This feature comes with zero loads in time and fees even when using “intermediary assets and platforms”.
Elrond on its official Twitter handle further confirmed this announcement.
First-time crypto users get fiat access to $ERD & mainnet native assets, Staking and #DeFi products, straight from their mobile phones.@MoonPayHQ enables access to Apple Pay, Samsung Pay, Credit Cards, Bank Transfers in 162 countries, +100 Fiat Rampshttps://t.co/xTHkdXbuEk
— elrond (@ElrondNetwork) July 15, 2020
Beniamin Mincu, CEO of Elrond, speaking on the integration disclosed that “Convenience is the key that will lead to unprecedented growth for the Elrond ecosystem”. The integration with MoonPay is sure to enhance users’ convenience as they can easily carry out transactions using their phones.
About Elrond and MoonPay
Elrond is a blockchain architecture that employs Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm. Known as a fast, secure and scalable platform, Elrond boasts of carrying out about 10,000 transactions per second (TPS). The blockchain architecture startup is making a name for itself as a borderless, permissionless, globally accessible internet economy.
MoonPay, on the other hand, is a fintech firm interested in developing tools for fiat-to-crypto payments. The crypto-to-fiat sees the entire crypto space as a huge innovation and is focused on bringing this innovation to everyone.