Recent conquests of Bitcoin – reaching 12k and then falling down to 11.2k in a matter of minutes – are evidence of the volatility of the crypto-investment market. And yet, it seems more and more people want to get into the world of cryptocurrency.
Fincy, a Singapore-based fintech, has decided to add cryptocurrency support for retailers and merchants on its database. The company came upon this decision because of the rising ‘traffic’ around cryptocurrency trading.
Fincy provides its users with digital wallets, which will now support Bitcoin, Ethereum, and other renowned currencies. Customers can use these wallets to transfer money, initiate trade, or spend at supported merchants.
This service will be added to Fincy app, which is proactively used for contactless payments, and even has an in-app social network. The company started in 2019 to simplify currency exchange at wholesale rates.
“Cryptocurrencies are an important part of the future of contactless payments in Singapore. They complement existing systems really well and are gaining popularity as an efficient and trusted payment medium,” Fincy CEO Vanessa Koh said.