Flexa Partners With Gemini Exchange To Launch The “SPEDN” Cryptocurrency Custodial Wallet
SPEDN custodial cryptocurrency wallet launches with four cryptocurrencies accepted on the platform.
Gemini exchange partners with Flexa to provide payment channels to retail merchants
Flexa announces the launch of SPEDN, a cryptocurrency custodial wallet that allows users to make payments across various stores. The company has adopted a unique approach to increase the adoption rates of cryptocurrency users across the world by building payment channels on top of the crypto infrastructure to ease the use.
Flexa launches the SPEDN application
Flexa’s CEO and co-founder Trevor Filter revealed top companies will be integrating the wallet including Express, Lowe’s, Jamba Juice, Regal Cinemas, GameStop, Nordstrom, and Office Depot among others. The announcement on Medium further revealed that a couple of coins will be available on the platform for use including Bitcoin, Ethereum, Bitcoin Cash and Gemini USD (GUSD) token.
Companies accepting the “SPEDN” cryptocurrency wallet
Speaking on the addition of the stable coin to the custodial wallet, the head of business development at the Gemini exchange, Sarah Olsen, was ecstatic for the partnership with Flexa. The custodial wallets of SPEDN users will be stored by the exchange and in exchange, Gemini will be able to introduce the GUSD token to a new market and use case.
“The Flexa network is going to be open source so if you’re a merchant anywhere you can integrate to use their network, even without necessarily interacting with the Flexa team directly. This is going to be the first step toward the future of how we transact value.” – Sarah Olsen
Stablecoins popularity is growing as more tokens are developed while investors use them to protect themselves from the wild volatile swings in the cryptocurrency market. However, not many merchants accept stable coins as a form of currency, a problem Flexa is aiming to solve with the addition of GUSD token on the SPEDN cryptocurrency wallet.
Gemini Exchange Partners With Flexa
Flexa’s payment solution provides users the ability to engage in the “spend” use case and benefit from the freedom, privacy, and security provided by cryptocurrency. Gemini’s goal has been to develop a bridge between the world of cryptocurrency and traditional finance since its inception. Flexa on its part has a similar motive as the team continues to build solutions for retailers and merchants to use and accept cryptocurrency payments.
Tyler Winklevoss, one of the co-founding twins of Gemini weighed in on the latest partnership with Flexa and the SPEDN cryptocurrency wallet application saying,
“Together Flexa and Gemini exchange, by providing Flexa with trusted custody and infrastructure, we hope to profoundly improve the payment experience; and merchants who are currently subject to overly complex, expensive legacy systems of credit and debit cards stand to benefit significantly.”
SPEDN application is currently available in the iOS application store. Developments on the Android and desktop versions is ongoing.