Flexa Ties with Coinsquare to Start Crypto Payments in Canada

Crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company Flexa on Tuesday announced that it partnered with Coinsquare, a Canadian crypto exchange, to the bring in-store crypto payments in Canada using its SPEDN wallet.

According to the official announcement, the cryptocurrency company launched its platform on both iOS and Android for Canadian customers.

Launched in mid-May, SPEDN functions like a pipeline for commercial transactions, processing regular payments in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term including Bitcoin, Ether, Bitcoin Cash, and its native Flexacoin. After a successful run in the US market for three months, the company expanded itself in Canada.

For Canadian users, the company has first launched its payments network and is expecting to on-board more than 7,500 merchants on the network by the first week of September.

The company also has plans for global expansion in the near future but did not reveal the locations it is considering to target.

“Over the coming weeks, we’ll not only expand our acceptance network across international borders and bring even more folks into the SPEDN beta, but also share more information on Flexacoin collateralization and the availability of the Flexa Wallet SDK,” the announcement stated.

Bringing crypto payment option to retail

Backed by Gemini, Flexa is also focusing on expanding its partnerships in the industry. It has already joined hands with Litecoin and Zcash to add support for them in the platform and also joined the Messari registry to make the project transparent and adhere to the industry disclosure standards.

“We are working with multiple projects and intend to launch many new coins on the network shortly. For now, we’ve been really impressed with the current communities and their repeated use of the SPEDN app, particularly Litecoin,” Tyler Spalding, co-founder of Flexa, told Coindesk.

Similar to Flexa, many major crypto players are also targeting to bring crypto payments in the retail industry. Earlier this year, Coinbase took a different approach to target the industry and launched a VISA debit card which is accepted by all VISA-enabled merchants.