BitRail Launches Legally Compliant Blockchain Based Cryptocurrency Payments Solution
BitRail has introduced a new solution that allows businesses to accept payments made through regulated and licensed digital currencies. This feature will be accessible through a mobile app that emphasizes simplicity.
Launching today, BitRail signals a new era in digital payments. Our new blockchain-backed infrastructure enables organizations to operate regulatory compliant cryptocurrencies for payments. Learn more here: https://t.co/rqtUsgYvXW #BitRail #blockchain #crypto #cryptocurrency pic.twitter.com/zRsXpp0Jkb
— BitRail (@BitRailofficial) January 15, 2019
The primary objective of the BitRail app is to save businesses from incurring high costs charged by bank cards and other popular electronic payment processors. Besides offering fast and secure transactions, the app also supports fiat-to-cryptocurrency exchanges and vice versa. The app was developed in partnership with ICOx Innovations.
Cameron Chell, co-founder, and VC of BitRail revealed that their new product guarantees security by allowing businesses to use KYC and AML verification features. Also, the company has the required legal documentation that permits them to oversee the transfer of funds. The inclusion multi-factor authentication and the impenetrable security offered by blockchain means that BitRail has the edge over bank cards and other digital payment platforms. Merchants won’t have to concern themselves over the volatility of virtual currencies because BitRail will lock-in transaction values.
The BitRail solution is intended for a variety of businesses. Its advanced customization features allow enterprises to create their own digital currencies which can be used as a payment option for their clients. Moreover, it is designed to scale efficiently as the business grows.
Additionally, clients can use the BitRail platform as a digital wallet to store the custom tokens created by the favorite merchants. These tokens are purchased using fiat money.
Steve Urvan, the CEO of BitRail, expects businesses to adopt their solution because of its cost-effectiveness and reliability. He added that most of the clients are likely to be those struggling with inefficient payment processors. So far, the BitRail solution has been integrated into GunBroker.com, the largest firearm online store in the world. Gun Broker will introduce their custom coin at the end of January
BitRail LLC is a blockchain-driven company that develops legally compliant cryptocurrency payment solutions for businesses. The firm focuses on security by adhering to KYC and AML procedures. It has its head offices in Atlanta, Georgia.
About ICOx Innovations
ICOx Innovation develops customized blockchain solutions for institutional clients. In this case, ICOx assists BitRail users to develop customized cryptocurrencies to be used with the payment solution.