The aBey Foundation Introduces new Crypto-Enabled Credit Card Technology

The aBey Foundation Introduces new Crypto-Enabled Credit Card Technology

The bridge between crypto and fiat is getting faster and stronger

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Speaking at BlockShow Asia 2019, aBey Foundation co-founder Dr. Ciprian Pungila announced aPay, a payment system that lets the cryptocurrency community use its assets for daily payments via credit card integrations.

aPay users can send their cryptocurrencies to the platform and gain access to three different credit cards that operate with UnionPay, Mastercard, and Visa. They can therefore use their cryptocurrencies for daily payments.

Based on new blockchain technology developed by the aBey Foundation, aPay promises to be a speedy blockchain that introduces new architecture and high-performance computing that would enable faster transactions. “aBey is designed and built to be among the fastest and most flexible open source chains in the world, providing a practical solution for common e-commerce use cases,” Punglia said.

The co-founder revealed that aPay supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, EOS, Ripple, ZCash, and a native cryptocurrency built by aBey. He clarified that aPay does not require the merchant to accept cryptocurrencies. They only need to accept conventional credit card payments, and aPay’s solution automatically converts the payment from crypto to fiat.

Dr. Pungila added that it is still not clear how blockchain technology will impact the financial sector, but it is certain that distributed ledger applications will change the technological and financial landscape:

“The financial technology industry has been impacted by the development of blockchain technology, but there is still not much clarity on how it will change our lives. It is certain that there is no turning back, and therefore we must build applications and solutions to accept and develop this change.”

Dr. Pungila also stated that aBey’s blockchain supports high-speed transactions in order to support e-commerce needs, enabling repayable transactions, home loans, commission payments, and more.


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The bridge between crypto and fiat is getting faster and stronger

Crypto-Enabled Payment Firm Square Recruits Former Google Product Director Steve Lee

Crypto-Enabled Payment Firm Square Recruits Former Google Product Director Steve Lee

Former Google product director Steve Lee has been hired by Square Crypto, a United States-based BTC-supporting payments service

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United States-based bitcoin (BTC)-supporting payments service Square Crypto announced that it recruited former Google product director Steve Lee in a tweet published on June 12.

Square Crypto was announced in March of this year when the organization joined Twitter, and planned to hire crypto engineers and designers to work on the bitcoin and crypto ecosystem, paying them in cryptocurrency.

Just hours before announcing Lee’s recruitment, the official Twitter Square Crypto account asked — in what appeared to be a joke — the community to welcome the company’s “summer intern and inaugural hire, Gary Fuches.” Then, the author of the next tweet claimed to be Fuches and noted his commitment to blockchain technology:

“Hello everybody! My name’s Gary and I’m here to say, I love blockchain in a very big way!!!”

A significant portion of the respondents reacted by correcting him and noting that he should have said bitcoin, instead of blockchain. One hour later, the management announced the hiring of Steve Lee in another tweet:

“Hey guys. Management again. Unfortunately, things didn’t work out with Gary. However, we think we’ve found somebody who can live up to his commitment to decentralization. Please welcome Steve Lee, aka @moneyball, to the Square Crypto team.”

As the next — and last — tweet sent by the account notes, Lee is a former product director at Google, an angel investor and a volunteer project manager for bitcoin development. His LinkedIn profile further notes that he has also been a software engineer at technology giant IBM and a product manager intern at Yahoo. Lee, as some members of the community did in response to Gary’s alleged tweet, noted:

“Bitcoin, not blockchain. Very excited about this opportunity!”

As Cointelegraph reported at the beginning of May, Square saw a new revenue high from bitcoin sales through its Cash app, while profits from bitcoin sales remained low.

In February, Twitter co-founder and CEO Jack Dorsey — also the founder and CEO of Squaresaid that rolling out the Lightning Network on Square’s Cash App is a question of “when, not if.”


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Former Google product director Steve Lee has been hired by Square Crypto, a United States-based BTC-supporting payments service