Triple-A Partners with AXS to Offer Crypto Payments
Triple-A has teamed up with AXS, a popular payment platform in Singapore, to enable users to make payments for various services using four cryptocurrencies. This partnership allows users to pay bills in digital currencies through AXS’ mobile app, AXS m-station. The selected cryptocurrencies for payments are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).
Expanded Payment Options for 550 Services
Thanks to the collaboration between Triple-A and AXS, users can now pay for 550 out of the 600 services offered by AXS using cryptocurrencies. The remaining 50 services related to credit cards and bank loans are excluded from this payment option. Triple-A acts as a gateway by converting the chosen token into Singapore dollars and transferring the funds to AXS’ bank account.
Future Expansion Plans
The partnership aims to extend crypto payment options to all 650 AXS machines (AXS Stations) in Singapore and the AXS website (AXS e-Station) by the second quarter of 2024. This expansion will provide even more convenience and choice for users.
Benefits for Users and AXS
AXS currently has 650,000 monthly active users who regularly use the app to pay their bills. By accepting digital currencies, AXS can cater to the evolving preferences of its diverse user base. Triple-A CEO Eric Barbier believes that this collaboration will offer users greater convenience and choice while benefiting AXS through reduced processing times and fees.
Previous Partnerships and Industry Collaborations
Triple-A has previously partnered with companies like iStudio, Farfetch, Singapore Red Cross, Reap, and AsiaPay to provide crypto payment options. They have also collaborated with STX Corporation and Paycorp to power digital currency payments for various platforms and services.
Hot Take: Expanding Crypto Adoption in Singapore
The partnership between Triple-A and AXS is a significant step towards increasing crypto adoption in Singapore. By allowing users to pay bills in cryptocurrencies, AXS is embracing the preferences of its diverse user base and providing them with added convenience. This collaboration not only benefits users but also reduces processing times and fees for AXS. As more companies and platforms offer crypto payment options, the overall acceptance and integration of cryptocurrencies into everyday transactions continue to grow.
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