In a bid to bring crypto to the masses, Zulu Republic has launched services to receive and send crypto over WhatsApp.
According to the company, the bot called Lite.IM has enabled transactions in Bitcoin and Litecoin along with Ether and ZTX, the native digital currency of the company.
we are happy to announce that from today you can send and receive #bitcoin & #litecoin on #WhatsApp via @liteim_official ! try it yourself here: https://t.co/JaldSafGBK @FranklynCrypto @SatoshiLite @CharlieShrem @CCNMarkets @GLRalf
— Zulu Republic (@ztxrepublic) May 19, 2019
Currently, the bot supports two languages – English and Spanish – and also rewards the users under a referral program.
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Tapping a massive user base
WhatsApp is the most popular chat app in most developing countries, whereas in developed countries it is the second in line behind its sister platform Messenger. According to Statista, the chat platform has 500 million daily active users, which went up from 175 million in 2017.
Zulu’s is tapping this massive user base and has kept the bot installation process very simple. To use its services, users only need to follow the onscreen instructions to integrate the solution to the chat app.
WhatsApp is not the first platform the Zug-based crypto company is targeting, as earlier this year, it has launched crypto purchasing services on Messanger, Telegram, and even through SMS. It then partnered with payment processing company Simplex to enable transactions using both credit and debit cards.
Earlier in March, Finance Magnates reported that England-based Wuabit is planning to launch similar crypto transaction services over the existing messaging platforms including WhatsApp, Telegram, Messanger, and Viber.
Facebooks own crypto ambitions
Along with the third-party companies which are slowly trying to tap the massive user base of social media platforms, Facebook is also developing its own stablecoin and is planning to introduce it across its all platforms – Messanger, WhatsApp, and Instagram.
The social media giant recently launched a fintech subsidiary in Switzerland called Libra Networks to support its crypto payments plan.