Important Developments to Increase the Use of Crypto Money

Recently, many developments that will spread the use of crypto money are occurring one after another.  Following an agreement with Coca-Cola Amatil and digital asset platform Centrapay, cryptocurrency payments from Coca-Cola vending machines have become acceptable. Accordingly, the QR code is scanned and
Bitcoin
is instantly converted into fiat money. However, in order for this process to take place, consumers must install the smart wallet application called Sylo Smart Wallet. Centrapay’s agreement with Coca-Cola Amatil, one of the world’s largest bottlers serving 270 million consumers, is seen as an important development in terms of providing consumers with easy access
to cryptocurrency
.

You may be interested: Citizens of the Swiss Canton of Zug Will Now Pay Taxes with Bitcoin   

Coffee chain giant Starbucks and Bakkt have established a strategic partnership and established the integration of payment with crypto money through its mobile application. Accordingly, users are offered the option to pay for their drinks with “Bakkt Cash” through the application. Bakkt Cash is open to mobile app users, but customers must sign up for the platform’s Early Access Program to take advantage of the new payment integration.

US Retail giant Walmart is issuing a cryptocurrency of its own by filing a patent application. Walmart’s digital currency is intended to be spent in as many places as possible. According to Walmart, the new digital currency can be tied to government fiat currencies such as the dollar, as well as other cryptocurrencies. It is also thought that digital money can compete with existing banks by eliminating the need for credit and debit cards. Looking at the details of the patent, Walmart states that thanks to the digital currency project, users will be able to store their savings with zero fees or very low transaction fees. Thanks to the system, cooperating retailers and partners will also be able to easily take advantage of the storage service and convert it from crypto money to traditional money and vice versa.

On the other hand, PayPal, which is known to have over 300 million users, is developing a platform where it can sell Bitcoin and crypto money. Visa is also known to be working on this issue. While the developments continued, Mastercard, which has a giant payment network, came to a news that concerns the crypto money markets and can affect these markets in a good way.

Wirex, a crypto money platform licensed and regulated by the UK Financial Authority,  is also recognized as one of the first companies to implement a crypto money debit card application. A cryptocurrency investor who has this card and application can quickly convert their crypto money into cash. MasterCard grants Wirex “principal membership status,” allowing Wirex to use MasterCard’s payments system. In addition, a cryptocurrency investor who owns a WirexCard will be able to use WirexCard wherever MasterCard is available.

The demand, which has occurred with the entry of international institutional companies, financial institutions into the crypto money sector and the start of digital transformation on the user side, is the elements that expand the use and scope of crypto money. Looking at all these developments, it seems that there will be a significant movement in the Bitcoin and crypto money markets and it is among the developments expected by many analysts that the bull season may be experienced.