Dtcpay to Launch New Payment System for Cryptocurrencies and Fiat Currencies
If you are into cryptocurrencies, get ready for Dtcpay’s new payment system that will cater to both digital and traditional currencies. The Singapore-based startup has teamed up with PlatON, an open-source blockchain platform, and Allinpay International, a Chinese payment solution provider, to create a privacy-protected digital payment infrastructure. This collaboration will focus on developing smart POS terminals that can handle various digital currencies such as Tether (USDT), Ethereum (ETH), and Bitcoin (BTC).
Formerly known as the Digital Treasures Center, Dtcpay specializes in providing cutting-edge digital currency payment services, allowing partners and merchants to accept payments in both fiat and digital currencies. The company has also partnered with Sumsub to enhance the security and reliability of digital currency payments in key markets like Singapore, Hong Kong, Dubai, the UK, and Europe.
The Evolving Crypto Landscape in Singapore
With the ever-changing crypto regulations in Singapore to protect consumers, major players like Coinbase and Ripple are now licensed payment institutions by the Monetary Authority of Singapore (MAS). MAS is also exploring the potential of central bank digital currencies (CBDCs), and Project Orchid, a retail CBDC research project, has completed its first phase. This project aims to create digital currencies for specific purposes and has gained traction in Singapore, particularly with digital currencies not denoted in Singaporean dollars.
MAS is also looking into the concept of programmable or automated execution of digital currencies for predefined use cases to keep up with these developments.
Hot Take: Dtcpay’s New Payment System to Revolutionize Crypto and Fiat Transactions
Dtcpay’s partnership with PlatON and Allinpay International marks a major step forward in the world of cryptocurrency transactions. This collaboration will not only bring more convenience to crypto users but will also ensure enhanced security and reliability across multiple markets. With the ever-growing interest in digital currencies and the evolving crypto landscape in Singapore, Dtcpay’s new payment system is poised to revolutionize the way we handle both digital and traditional currencies.
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