Startup Basqet will provide African companies with a payment gateway to accept payments and settlements in cryptocurrencies, as well as US dollars and local currencies, using the blockchain.
Fintech startup Basqet announced on the launch of a public beta version of the payment service and announced its readiness to support payments in BTC, USDT, ETH and LTC. The list of accepted cryptocurrencies will expand as the service develops. Before the launch of the beta version, test transactions were carried out in the amount of more than $1.3 million. The Basqet team announced that it is ready to work with 118 companies that have already registered.
Basqet stated that it has solved one of the biggest problems associated with payments in cryptocurrencies – leveling the impact of the high volatility of cryptocurrencies on the change in current prices. The payment service will allow merchants to accept cryptocurrencies as payment and pay in US dollars, cryptocurrencies and more than five African currencies. In this case, the seller will be guaranteed to receive the equivalent value in the selected currency, for example, US dollars, regardless of the volatility of prices for the cryptocurrency.
“We are creating the missing link between people who own cryptocurrencies and businesses that want to accept cryptocurrencies as a means of payment. And we do this without loss to sellers due to the volatility of cryptocurrency prices,” said Bunmi Eleshin, Senior Product Manager at Basqet.
Cryptocurrency payment gateway Basqet is an analogue of Stripe in the USA and Flutterwave in Africa. Its use will enable business owners to reduce regular transaction fees by more than 60%, as well as accept various cryptocurrencies as donations, payments or deposits.
Source: Bits
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