Zeux App Enables Use of IOTA For Cryptocurrency Payments at Retail Stores
The crypto payments startup Zeux has recently affirmed that it would team up with IOTA (MIOTA) in order to list the token for crypto payments at retail stores. According to the reports, the service will be available with stores that accept Samsung Pay and Apple Pay.
Zeux has revealed the partnership via social media, affirming that IOTA payments will be added for the new token and that people will be able to use it with several different merchants. At the moment, Zeux has a FCA regulatory license and this is probably part of the changes due to its upcoming launch in the European Union next month.
The company is also planning to launch its services in the United States soon. According to the announcements, a big number of shops from grocery stores to coffee shops will be able to receive payments using Zeux.
Also, customers that use Zeux will be able to enable their customers to do several things using the app. They will not only be allowed to make payments but also to store cryptos on the wallet and to use them for investment.
Just last week, Qtum, another mid-tier crypto asset, was also listed on Zeux. This makes the move clear: the company is trying to list many more assets before the expansion in order to have a more robust offering for its clients when it reaches a new destination.
Even Bitcoin SV, the very controversial token that was created out of the lastest Bitcoin Cash last year, was recently added to the platform.
About the Partnership
Sources indicate that this new partnership is all about adoption. The founder of IOTA, David Sønstebø, has affirmed that this collaboration will make IOTA be more widely adopted and could be very important for the future of the asset.
Frank Zhou, the CEO of Zeux, was also very hyped about the idea of helping IOTA to raise its adoption and to collaborate so that the company can help to bridge the way between cryptocurrencies and the old-fashioned traditional economy world. Zhou also talked about Tangle, the blockchain protocol used by IOTA, which he deemed as a very interesting piece of technology.
It is also expected that partnerships like this one will help the crypto industry as a whole. At the moment, the industry is lacking adoption as not many people use cryptos. With services like this one, things can slowly start to change as people will start to notice how useful cryptos can be for transactions.
A service like this one is especially important because the merchants never have to actually deal with the cryptos. They will receive fiat instead if that is what they wish. This is a smart move that will help to fight volatility, one of the main reasons why cryptos are not accepted by many stores right now.
The Price of IOTA Tokens Went Up
Another point about the partnership is that, as it was expected, the announcement made the price of the token go up.
IOTA is currently the 14th largest token in the market now and its price went up 7% after the announcement. Before the increase, the token was trading at $0.285 USD, but now it is around $0.308 USD, a very quick boost in price.
Prices peaked at $0.323 USD, but they went down later, as some investors were probably getting their returns after a very good day. At the time of this report, the IOTA network is worth $887 million USD.