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What happened?
SpacePay, a London-based startup, is gaining attention with its innovative payment platform that features a low 0.5% transaction fee and instant settlements for merchants. The company has already raised about $1 million during its token presale, with each $SPY token priced at $0.003181. SpacePay’s system allows merchants to receive payments in regular currency, protecting them from the volatility often associated with cryptocurrencies.
Who does this affect?
SpacePay’s offering primarily benefits small businesses that are often burdened by high processing fees charged by traditional payment processors. By using SpacePay, merchants can save significantly on transaction fees and avoid the complexities and risks of accepting cryptocurrency directly. This also appeals to tech-savvy consumers who prefer using digital currencies for their transactions.
Why does this matter?
SpacePay presents a potential disruptor in the payment processing market by offering an alternative that mitigates common issues faced by merchants when dealing with digital currencies. Lower fees and protection from price volatility can attract more merchants to adopt cryptocurrency payments, leading to wider acceptance and usage. As SpacePay’s token presale gains traction, the company’s success could encourage further investment and innovation in the fintech sector.
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