Flexa Ties with Coinsquare to Start Crypto Payments in Canada
- The company is planning to on-board over 7,500 merchants on its network by September.

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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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.
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.
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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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.
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.