Through the $APAY token, holders will be able to convert their virtual coins to spendable credit, while still enjoying the anonymity and freedom offered by decentralized finance.
San Diego, May 12, 2022 (GLOBE NEWSWIRE) — AnonPay is leading the integration of cryptocurrency in the real world through its revolutionary $APAY token, which will allow holders to earn and spend virtual coins with ease.
The project was developed to facilitate frictionless spending of cryptocurrency in the real world, allowing holders of virtual coins to spend their tokens on daily needs such as booking ride-hailing services, ordering products on Amazon, etc.
As the world grows more receptive to the concept of a decentralized financial system, finding real-world use cases for cryptocurrencies is a challenge that most projects have struggled to surmount. The grand concept of the AnonPay project, on the contrary, came before the creation of the $APAY token rather than after.
Although projects with similar features already exist, the unique difference of the AnonPay project is that it strings useful components such as the crypto to credit utility, swap, staking and mixer together with the goal of bringing greater collective value to the end user.
“We created this project to help bring the fruits of decentralized finance to individuals all over the world. Starting with our crypto to credit feature, holders will be able to conveniently and anonymously enjoy real-world spending of crypto in fiat currencies. As they familiarize themselves with AnonPay, our hope is for their deeper adoption of the overall ecosystem.”
The AnonPay dApp, which is responsible for interfacing with the user, will provide payment statistics and also facilitate the issuing/reloading of the Virtual Credit Card (VCC). AnonPay has also revealed that users will need just 200,000 APAY in their wallets to be eligible for the issuance of a Virtual Credit Card.
During issuance, holders will incur a one-time VCC fee of $10 per card, followed by a small 1% fee for every top-up. Once a reload request is made, the APAY Processor will convert $APAY into stable coins and then trigger AnonPay’s fiat account to top up the VCC balance with the bank.
While the current system works on an on-demand basis with the VCC issuing bank, the project creators have promised to enter into a firm partnership with a selected bank that will rely on the economy of scale to bring about reduced fees. Anyone interested in learning more about how this system works can browse the White Paper or reach out to AnonPay directly via the contact info below.
Contact person: Liam Anderson