Cryptocurrencies

Bitcoin, Ethereum, Bitcoin Cash and Litecoin Payments Coming to Retail Giants in Canada

By August 14, 2019 No Comments

This article was originally published here.


 

Instant blockchain payments firm Flexa is launching its services outside the US for the first time. Its person-to-person crypto payment platform is now available in Canada.

The company says residents can now download and install the SPEDN app, which is available on the App Store and Google Play. New users can also visit Flexa’s SPEDN Shop pop-up at the Blockchain Futurist Conference in Toronto (until August 14th).

The Flexa team says it’s bringing instant cryptocurrency payments to more than 7,500 Canadian merchants, and some of the country’s biggest retail and entertainment brands will be integrating its services during the first week of September 2019.

According to the company’s announcement, Flexa’s services will be accessible in the Great White North area, from Yukon to Nova Scotia and from Vancouver to St. John’s. 

Flexa’s press release states,

“To bring Flexa to Canada, we’ve partnered with Coinsquare, Canada’s largest and most secure cryptocurrency exchange. Based in Toronto, Coinsquare has spent the last several years building one of the most compliant and innovative exchange businesses in the industry.” 

Flexa’s management notes that the platform has been developed on top of different cryptocurrencies, and that Flexa’s Canadian customers will be able to spend their funds easily when visiting the US. 

Last month, Flexa added support for Litecoin (LTC) transactions on its payments network. The company’s network also supports payments in Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Gemini dollars (GUSD). The company currently provides direct point-of-sale payments at over 39,250 different stores based in the US. 

Flexa’s management says its business strategy is aimed at increasing cryptocurrency adoption by helping shoppers spend their funds. The firm enables digital currency spending on the consumer side while helping merchants settle payments in fiat currencies.

The company’s SPEDN app allows shoppers to select from various Flexa-accepting stores. Users can tap on a brand and scan its unique code in order to make instant point-of-sale payments. The users’ cryptocurrency is automatically converted into US dollars when the cashier scans the code that appears on a shopper’s screen. 

According to the firm’s press release, Flexa wallet deposits are “securely custodied and fully insured” through its partnership with crypto exchange Gemini. The Flexa team claims that this makes SPEDN one of “the easiest and safest” apps for conducting cryptocurrency transactions.

Flexa’s developers state,

“We think that seamless, fee-free, cross-border commerce is one of the most impactful use cases that cryptocurrency can provide…

“Launching Flexa to customers outside of the United States—and in turn, bringing affordable, secure, and fraud-free payments to even more people—brings us one step closer to fulfilling our ambition of making cryptocurrency spendable everywhere, and rebuilding payment acceptance for the modern era.” 

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