PayCo is the new solution to real-world payments with cryptocurrency

PayCo is a payment solution interface that allows clients to pay with crypto and the merchant to receive the payment in fiat
11 January 2018   668

There is a dream for every crypto enthusiast out there – being able to use crypto in daily shopping. But there are always problems with implementation of such payments in everyday life.

Two main hurdles to overcome are volatile exchange rates and vendors' single-minded focus on bitcoin. First of all, even when the shop takes payment in crypto, they risk not having the same exchange rate to convert to fiat to pay off the bills and salaries. The digital currency market is volatile like that, you can gain a lot, but there is a fair chance to miss out equally spectacularly.

And the second problem mainly revolves around Bitcoin being the most popular crypto. Lots of people prefer altcoins, be it for the chance at sudden surge, or for some other benefit, like transaction speed or increased security. So lots of enthusiasts end up locked out from real-world use of their hoarded coins.

But there is a salvation coming in the form of PayCo. They intend to implement an interface between customers and shops, so the latter will be able to receive payments in fiat directly to their bank account, without worrying about exchange rates and whatnot.

There are two options avaliable to merchants. First – the moblie harware interface as an all-in-one solution to the problem, or the second variant - an API to integrate into existing payment system already in place.

Also, the promised killer feature is the support for multiple cryptocurrencies. So now lots of altcoin adopters wouldn't feel left out. And it should eliminate the quite common scenario of $2 order consuming another $5 for transaction fees.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   167

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.