Introducing innovative features like Lightning Network-supported instant transfers, traditional debit card transactions, and a Bitcoin acceptance map, Wexo is dedicated to seamlessly integrating cryptocurrency payments into daily life.
Bitcoin (BTC) has surpassed a total market value of $1 trillion, establishing itself as a significant digital asset. However, widespread adoption as a commonly accepted payment method remains a challenge.
Recent reports from the Federal Reserve reveal that only 1% of Americans utilized cryptocurrency for purchases in 2023. Additionally, less than 2% of BTC transactions in 2023 were used for commercial purposes.
To combat Bitcoin’s limited acceptance in everyday transactions, crypto projects are working towards bridging the gap between cryptocurrency and traditional finance (TradFi).
Facilitating Crypto Payments in Daily Life
Wexo is a crypto platform designed to connect businesses and individuals, offering a range of financial services for effective digital asset management. With a secure framework, user-friendly interface, and innovative functionalities, Wexo ensures simple navigation and utilization of digital assets, even for beginners.
Wexo has created an application specifically for businesses to conduct transactions via the Bitcoin Lightning Network – a technology that enables instant and low-cost BTC payments. The application features wPOS terminals, allowing businesses to accept cryptocurrency payments through a smartphone app, eliminating the need for additional on-site equipment.
Streamlining Recurring Payments
Wexo simplifies digital asset management with features like Crypto Standing Instructions, enabling users to schedule recurring payments and streamline regular transactions. This feature supports fixed-cost crypto payments, bulk payments to multiple recipients, and transaction alerts.
Wexo’s wallet service supports SEPA for seamless cross-border transactions within Europe, allowing users to deposit and withdraw fiat currencies effortlessly. The Euro Wallet facilitates straightforward exchanges between crypto and euros in both directions.
A notable feature of Wexo is its global map, assisting users in locating businesses that accept BTC. Businesses utilizing app-based virtual terminals can add themselves to this map, attracting new clientele.
The platform also supports transactions via traditional payment cards, Apple Pay, and Google Pay, allowing users to acquire digital assets with ease. Wexo offers a convenient exchange service and quick, hassle-free transactions, even through a phone number.
In response to the increasing demand for seamless connectivity, Wexo is introducing an e-SIM program that enables users to purchase local mobile data packages while traveling. Wexo aims to cater to travelers’ needs and promote Bitcoin as a global currency.
Bitcoin Cashback Loyalty Program
Following successful integration of digital assets with TradFi, Wexo is preparing the groundwork for various loyalty programs, including Bitcoin Cashback. This program will enable businesses to offer discounts in the form of cashback to their regular customers’ Bitcoin Lightning wallets.
Wexo will also launch a global gift card program, allowing users to utilize their cryptocurrency at major retailers like McDonald’s, Amazon, Apple, and IKEA. Users can use crypto for their everyday shopping using these payment gift cards.
Future Plans and Vision
Wexo plans to introduce a Wexo Kids app to educate the younger generation about cryptocurrency and financial habits. The company’s roadmap includes launching liquidity pools and reaching 10,000 acceptance points by 2025. Long-term objectives involve attaining 50 million active users by 2028.
In conclusion, the integration of cryptocurrency into everyday transactions is paving the way for digital assets to become as commonplace as traditional financial models. Initiatives like Wexo are leading the charge, overcoming adoption hurdles and advancing us towards a globally connected economy.
Learn more about Wexo.
Disclaimer: Cointelegraph does not endorse any content or product mentioned in this article. Readers are advised to conduct their own research before making any decisions related to the company and bear full responsibility for their actions. This article should not be considered as investment advice.