LALA World App Announces Launch Of New ‘Pay By Crypto’ Service
On 7th September 2018, LALA World announced that it will allow its users to top-up and recharge using cryptocurrency through the LALA World App platform.
LALA World CEO, Sankalp Shangari commented on the launch saying that they are thrilled to provide a utility to cryptocurrency which can now be used as a payment method for bill payments and other services. He further emphasized that they were more excited to be among the first to offer this service on a large scale.
Before the launch, payments were fully done using fiat currencies but now Pay by Crypto allows users to pay for services such as recharges and top ups using LALA Token and other cryptocurrencies via LALA World App. The LALA Tokens are available on exchanges including Coss, Cobinhood, Kucoin and Qryptos. After purchasing them from the exchanges you can transfer the tokens to LALA World App.
Ether can also be transferred by users to the app from third party crypto wallets but the Ether will be converted into LALA Tokens according to the last traded value in the exchange and will appear in the form of LALA tokens.
LALA World intends to abide by all local and international regulations for all its products hence they will be made available according to the different countries. With this in mind Pay by Crypto will only be available in crypto-friendly countries.
The use of LALA Tokens in the app will create an automatic demand and supply for them. They will be used in real practical scenarios and this will push the token value upwards.
About LALA World
LALA World is an ecosystem enabled by the LALA Wallet which is a global platform. It was founded in October 2017 by Sankalp Shangari and has its headquarters in Singapore. LALA World is targeting to build a Global Digital Decentralized Financial Ecosystem to support migrants and their unbanked families.
The ecosystem is a single sign on platform that revolves around their issues and problems such as employment issues, Digital Identity problems, healthcare issues, community build up and government and NGO partnerships. The ecosystem aims to capitalize the Blockchain revolution to narrow the gap between cash, digital and the crypto world. It is completely peer-to-peer with no middlemen involved. Its Vision is to reach a global audience of 100 Million by 2020 and have an active presence in at least 50 countries.
The LALA lead team consists of: Sankalp Shangari (Founder & CEO), Ranjit Kumar (Chief Operating Officer), Karan Bhatia (Global Head of Lending) and Shailendra Gupta (Chief Technology Officer). LALA World consists of four major products: LALA Transfer, LALA Bill Pay, LALA Lend and LALA Card.