WAVES, the open blockchain platform looking to tokenise national currencies, has partnered with Bitcoin wallet provider Mycelium to allow users to send fiat money tokens through their smartphone app.
WAVES and Mycelium are both in the process of running crowdfunding campaigns. WAVES has raised over $3m to date. The Mycelium crowdsale will fund its new “Crypto-Swiss knife” wallet upgrades, including support for various API integrations, and universal wallet functionality to deposit, store and transact in a range of cryptocurrencies and digital assets.
Core to the WAVES platform is the ability to issue, transfer, and exchange custom blockchain tokens – including those tied to national currencies through market-making services provided by fiat gateways. Besides liquidity provision and exchange services, gateways will also manage AML/KYC policies, so that decentralised blockchain value transfers are fully compliant. Fiat-equivalent tokens will be used for anything from remission to decentralised crowdfunding, said a statement.
Mycelium’s Bitcoin wallet software already boasts more than 200,000 users. The upgrade will see the integration of WAVES fiat assets, enabling the transfer of national currencies with all the speed, efficiency and decentralisation that blockchain technology brings. It will also see third-party developers and blockchains adding wide-ranging new functionality to the wallet,