There is no shortage of wallet solutions for storing cryptocurrencies, yet none of them gives users the ability to own their own cryptocurrency bank account for spending just like any other fiat account. While numerous third-party solutions exist to help users convert crypto to fiat for daily spending, none of these solutions offers the seamless usage fiat is renowned for.
This hurdle remains one of the biggest obstacle facing the mass adoption of cryptocurrencies despite its myriad of benefits. For cryptocurrency to gain that foothold it sorely needs for mass adoption, there is a need for a fast, seamless, secure, and easy to use service solution. Estonian-based blockchain startup, MinexSystems, has announced the public testing of this first of its kind solution.
Your Wallet, Your Pay
Initially developed for MinexPay’s ecosystem use case, MinexSystems’ team have created a frictionless and intuitive web wallet designed to cater to the daily use requirement of cryptocurrency users. This innovative solution seamlessly enables users to convert their cryptocurrency into fiat for spending just like any normal fiat bank card. Boris Shulyaev, CEO of MinexSystems, said:
“We want to provide a seamless service for any customer, wherever he or she is. MinexPay is the only solution designed to work globally. We believe that cryptocurrency holders want to use their crypto funds as ordinary money. This is why we focused on the MinexPay Web Wallet service first, with the card as a financial management instrument.”
Minex Web Wallet is the critical component of its payment ecosystem, enabling users to control their funds and make faster payments from their favourite device. The system is compatible with virtually all types of bank payment without the bothersome card-issuer problem that had hindered previous attempts at facilitating such services. Boris Shulyaev also stated:
“We may consider connecting users’ existing cards to the MinexPay system in the future”.
All Systems Set
Ahead of its global launch, MinexSystems is launching a public beta test in collaboration with Ukraine’s PrivatBank. The collaboration is set to enable users exchange cryptocurrency to fiat through cards issued by the bank. Unlike the current crop of cryptocurrency cards, cryptocurrencies are not sent to the bank accounts of the users, rather the bank directly facilitate liquidity, ensuring that the ecosystem is legally compliant.
Following the conclusion of the public test and integration of feedback and improvements gleaned during the event, MinexSystems will issue branded MinexPay cards to users.
How to Participate in the Public Test?
While participation is opened to the global community, participants will have to physically visit
MinexSystems’ office to be handed their test cards. Further details about the product can be accessed on MinexPay’s Telegram chat or by contacting its online support [email protected]. Development update, progress, and outlooks about the Minex Web Wallet, MinexPay and other company’s products can be accessed on the company’s blog.
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