TransCrypt Uses Telegram to Launch the World’s First Multicurrency Instant-messaging Payments System
Originally published on: CoinSpeaker
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March 12, 2018
TransCrypt is using Telegram as a base to launch a new universal payment system that acts within the interface of popular messaging platforms, allowing users to send or receive payments via message in all major cryptocurrencies.
With TransCrypt, users can carry out cryptocurrency transactions, convert currencies, purchase tokens and pay for services on all major devices. Transcrypt’s new platform will make cryptocurrency payments easier and faster than current fiat payment methods, in a compliant and secure ecosystem, as simple as sending a message.
The built-in conversion system means that exchanges are calculated automatically, and payments can be made in the required currency with precision and ease.
TransCrypt’s multi-currency wallet gives users access to transactions within a single and secure domain at a 0% commission rate within the TransCrypt network.
The global cryptocurrency transaction market is one of the fastest growing sectors. The volume of daily transactions in 2017 increased 15 times from that of the previous year, exceeding the billion-dollar mark.
However, the cryptocurrency payment technologies available today are often expensive and inefficient, meaning that a transaction requires multiple wallets and intermediaries, which overcomplicates the process and adds security concerns.
The TransCrypt platform, which hosts the user’s multicurrency wallet, operates on an open banking principle, providing a verified payment services with speed, security and ease-of-use.
TransCrypt’s CEO, Nikita Machulis, said
“TransCrypt’s mission is to open up the cryptocurrency market to everyone. We believe that the future belongs to a universal system that combines the benefits of cryptocurrency and conventional banking operations. This is why we are making cryptocurrency operations as simple and fast as the transfer of national currencies in a compliant and secure ecosystem, which will foster wider adoption of cryptocurrencies with consumers and create new opportunities for businesses. Payment will be made as simple as sending a message.”
The ability to make payments through popular messaging apps such as Telegram combines the benefits of TransCrypt’s payment system with the convenience and familiarity of phone applications.
In a world where more people own smartphones than bank accounts, TransCrypt comes at a time where a mobile app and payment system of this sort are much needed.