Crypto payments 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 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.
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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.