IOTA Foundation has announced its partnership with a London-based fintech firm named Zeux. This partnership will enable the use of MIOTA as a means of in-store payment.
There are businesses or merchants who are yet not ready to accept cryptocurrencies as a mode of payment. But the recent news of Zeux accepting cryptocurrencies would help in changing the scenario; plus, it could assist in increasing the adoption of IOTA coins too. This London-based company will be launching an app in April in Europe and the USA. Merchants who are using Apple Pay or Samsung Pay would be accepting IOTA crypto soon.
This new Zeux application will allow users to make seamless and affordable transactions with a single click. Frank Zhou, who is the founder of Zeux said:
As a distributed ledger with zero transaction fees, the Tangle is an up-and-coming chain for us to build our customer data DApp […] this marks another step forward in our journey. We look forward to working with IOTA and giving their customer base even more financial freedom.
Zeus’s main motto is to provide a merged solution of traditional point-of-sale (POS) and cryptocurrencies. Every crypto user who is willing to get benefited from this partnership and want to use MIOTA making payments will have to go with this option and install Apple Pay and Samsung Pay against the POS of merchants.
We are excited to announce we are adding another #cryptocurrency #IOTA token for crypto #payments in @ZeuxApp https://t.co/MYnbon8btQ@iotatoken @frankjzhou @DavidSonstebo @DomSchiener @NickAyton @popochen888 @pomp
— Zeux (@ZeuxApp) March 21, 2019
Here, when the user makes the payment, the concerned amount will be deducted from the buyer’s wallet (automatically) in the form of MIOTA coins and will be credited to the merchant’s wallet in the form of fiat money. Zeux has acquired an FCA license, which allows him to operate as both crypto and fiat banking provider.
Zeux will allow customers to perform multiple activities like making payments, storing funds and making investments. The app does not charge for fund transfers and a few other actions. This collaboration of IOTA and Zeux has been not lesser than a blessing for IOTA. The founder of IOTA Foundation is happy with this association as he is hoping this partnership to work wonders for MIOTA (IOTA) by raising the adoption rate.
David Sønstebø of IOTA states that this partnership will take the company a step ahead. Frank Zhou of Zeux states that his company is happy to associate with IOTA as it would also get to use IOTA’s Tangle technology.
Apart from IOTA, Zeux application would support other cryptocurrencies like BSV, Ethereum, QutugBitcoin, and Qtum.