Spedn by Flexa lets users purchase in stores by means of BTC and ETH
Big retail stores like Whole Foods, Gamestop and Nordstrom are looking at starting to accept cryptocurrency as a mode of payment. Spedn by Flexa is the new payments app that users can make use to make purchases in the aforementioned stores. BTC-USD and ETH-USD are the pairs which can be used on the platform.
According to Tyler Spalding,”You deposit cryptocurrency into it. You display a code that you scan at the register. That’s it.”
Flexa has also teamed up with other similar ventures like Gemini, the digital exchange by the Winklevoss twins. Gemini takes custody of all the crypto funds deposited in the app. The platform allows you executes trade and alsi quotes prices in real time. The platform by Gemini later locks and settles the quotes. What Flexa does? It only sells tokens on the exchange and issue ACH payments.
According to Spalding, with reference to Flexa:
“The network doesn’t have any risk to volatility whatsoever.”
The crypto market has an unstable nature which makes it less comfortable to accept it as a form of payment.
Spalding also added:
“A merchant accepting cryptocurrency natively is very challenging. The volume and relevance to merchants is something we are working at.”