How do you plan to implement the ecosystem, which will allow you to use Fiat money and cryptocurrency in one platform?
By having integrated fiat and crypto mobile wallets, plus the option of having a debit card linked to Paycent, this opens 200 countries and 36 million points that Paycent is accepted. The full ecosystem of Paycent and Paycent mPOS allows payments for daily household spend such as utilities, cable and Telco airtime. All conversions from cryptocurrencies to fiat will be done in realtime.
We have secured regulatory licenses and are also currently in partnership talks with several governments, banks, and companies to create an even larger ecosystem for Paycent and Paycentos.
The development on several aspects are as follows:
Regulatory Licenses -
We have obtained regulatory licenses in UAE and the Philippines, and in-principle approval in Singapore and Hong Kong. With these licenses, we are able to start operations in the countries and build our user base.
Banks -
We are currently in tier 2 talks to acquire and merge two banks in the Philippines, to create a larger ecosystem for Paycent. Paycent will be functioning as the online channel for the merged bank, and provide microfinancing and basic banking services for the unbanked. This strategy will allow us to set up more branches across Asia and penetrate the mass market more quickly.
Exchange -
We are in negotiation talks to develop and host our exchange – Paycent Realtime Exchange, in Dubai, with the oversight of the Central Bank of UAE. This will provide realtime pricing and liquidity for Paycent and other cryptocurrencies. This will be a world first where a crypto-exchange is built on a regulated exchange.
Payment Structure -
We are in advanced talks with 2 major middle eastern economies to develop a Unified Digital Payments Network for their banking and government services, and with Paycent as the online hosts of their national payment infrastructure.
Established Fiat Ecosystem -
Over a thousand merchants and counting are now accepting Paycent as an online payment mode.
Confirmed Crypto Ecosystem -
We have signed an agreement with For Est Real Estate (forest.ae) in UAE to be the first cryptowallet to utilize Paycentos as a payment token, and are also in talks with over 30 real estate developers to accept Paycent as a payment mode.
For more info, read our whitepaper:
https://paycent.com/wp-content/uploads/2017/09/PYN-Whitepaper.pdf?v=4.8