An interesting development has been announced earlier today, as Coinify is working hard to expand their presence in the Asian region. Thanks to a partnership with iPayDNA, they can now offer multi-coin payments across Asian countries, Another notch in the belt for digital currency as a whole, and a promising partnership to shake up the way payments are handled in the region.
Coinify Joins Forces with iPayDNA
This partnership is quite interesting in its own right, as iPayDNA is a Hong Kong-based payment processor, and Coinify is a digital currency payment service provider hailing from Denmark. While it is not unusual to see international partnerships taking place in the digital currency ecosystem, it speaks volumes as to how the demand for alternative payment options truly is universal.
Expanding in the Asian market is not an easy feat, although Coinify has been working on trying to achieve this goal. With a strategic partner in Asia, blockchain-based merchant processing solutions will be coming to consumers in that region. iPayDNA is a very dominant player in this area, and it will be interesting to see how this partnership will affect digital currency payments as a whole.
Coinify Sales Manager Morten Bebe stated:
“The increasing popularity of alternative payments is reinforced by the strong shift from cash to electronic payments and the increasing number of customers searching for their preferred payment method in a secure environment. Besides these strong indicators of the potential that blockchain payments have in the area, we are pleased about opportunities contributing to the infrastructure and supporting the digital currency adoption process.”
Local merchants in Asia are very different from those in Europe or the US, and it is pertinent for Coinify to have a partner well versed in local demands for the Asian region. At the same time, iPayDNA wants to offer a complete suite of payment solutions to merchants, and digital currency payment options are an integral part of that plan. Although it remains to be seen how many merchants will board the cryptocurrency train over the coming months, there are benefits to doing so, including faster and cheaper payments.
All in all, a total of 17 different digital currencies will be available to merchants to choose from, including Bitcoin and Litecoin. Similar to how most payment processors work in the digital currency space, iPayDNA users will be able to convert incoming payments to local currency deposited into their bank account in a short amount of time.
Last but not least, it is worth noting how iPayDNA has ties to the banking sector, credit card issuers, and even China Union Pay. This makes the partnership with Coinify all the more important, as it could bring future innovation in the digital currency and blockchain space to the table.
Source: Coinify Blog