Like it or not, cryptocurrency is taking over the world. As if there weren’t enough people were converting and investing their cash into cryptocurrency, the number of investors has increased significantly since Bitcoin reached the milestone of $5,000.
The biggest downside of the cryptocurrency market is that its volatile, and prices fluctuate daily. This is not the only problem that cryptocurrency users are faced with since there aren’t that many shops and business which accept this method of pay. However, things are going to change with Beluga Pay.
A company that’s based in Guadalajara which is also known as “Mexico’s Silicon Valley” is working on a new mobile point of sale system (mPOS). The reason why this matters to cryptocurrency users is because Beluga Pay will accept the following currencies: Mastercard, VISA and Crypto.
Obviously, the mPOS is designed accept Mexico’s native cryptocurrency known as BBI, but it will also support the likes of Ethereum and Bitcoin. Moreover, the device is going by the name of “Espiral” in Mexico and it already has more than 200 live merchants using it.
Over $4 Million Transactions in 2017
The Guadalajara based team of developers is claiming that its mPOS has already processed more than $4 million in transactions during this year. Considering that there aren’t that many live merchants who are using it, the mPOS’s numbers are surely going to grow even bigger during 2018 when other merchants join in.
We should also mention that Beluga Pay acquired a global license for Espiral to market its new payment technology to the entire world.
Therefore, Beluga Pay is planning to focus on the 2 billion unbanked adults who converted all their savings in different cryptocurrencies such as Bitcoin, BBI, Ethereum and so on. The first regions that are expected to start using Beluga Pay are Europe, South-East Asia, Africa and the Caribbean.