Trading technology provider Leverate has launched a new service called Terrexa Pay which aims to help brokers and other businesses adopt cryptocurrencies. The new offering is particularly targeted towards e-commerce and those operating in industries classified as “risky,” such as Forex and gaming.
In terms of functions, it offers a cryptocurrency gateway platform designed to simplify payments with bitcoin and other cryptocurrencies.
Terrexa Pay emphasizes simplicity as the company offers a plugin or a widget application to integrate the service into the brokerage website alongside other payment options. This was advertised as a way for brokers to save time, funds, and other resources since they do not need to understand how every transaction or cryptocurrency works.
Terrexa Pay represents Leverate’s latest initiative into the crypto space which mainly aim to improve client retention and acquisition amongst brokerages. With such a diverse product suite at its disposal, Leverate is hoping to leverage its focus on the nascent technology to cater to brokers looking to gain an advantage in an increasingly cutthroat industry. Crypto-related issues have loomed large not just for existing brokers but also for those looking to expand into the new markets.
Earlier this year, the company has powered a blockchain company under the same brand, Terrexa, which aims to enable users to exchange fiat currencies for cryptocurrencies.
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The payment solution, which aims to help resolve brokers’ clearance issues, processes crypto payments for existing clients with complete payer identification and automatically converts their clients’ fiat to cryptocurrency.
New crypto services
Leverate further explains that the broker sends his extended public key to Terrexa Pay, which in turn assigns unique addresses to all of the broker’s customers. This process helps identify the source of each payment whilst informs the broker about new transactions in real time through a dedicated dashboard.
The new service is also the group’s latest foray following the latest new appointments. Leverate previously outlined to Finance Magnates the group’s forward-looking agenda and efforts to help brokers.
According to Oren Mizrachi, Director of Crypto at Leverate, “Many brokers are struggling with insufficient payment infrastructure in their countries, or with other restrictions on old-type payment methods.”
He added: “When we imagined Terrexa Pay, we thought of a comprehensive payment solution that will streamline and simplify the way our clients process transactions from multiple sources, from credit cards to bank transfers to cryptocurrency payments. We believe that safe and stable payment solutions are the next step in the cryptocurrency evolution”.