We’re excited to announce that the crypto liquidity solutions provider ZoidPay has integrated EGLD as one of the main currencies in their platform. Their virtual cards can now be topped up with EGLD and used to make purchases from any online merchant that accepts VISA cards.
Furthermore, $ZPAY will be migrated on the Elrond Network, boosting the utility of the ZoidPay ecosystem and cashback token with internet-scale performance and low costs of settlement enabled by our blockchain.
“The proliferation of Web3 payments is a positive-sum game where everyone involved, from consumers to merchants and ecosystem partners, stand to benefit from adoption. We welcome ZoidPay into the Elrond Network ecosystem and look forward to working together for the advancement of payments using blockchain technology.” said Beniamin Mincu, Elrond Network CEO.
ZoidPay enables the creation of virtual cards which can be topped up with EGLD and other cryptocurrencies, and then used to pay everywhere Visa cards are accepted. Users can make purchases via the ZoidPay app and web extension, with additional features such as physical cards and in-store merchant solutions to follow shortly.
“Elrond has been making deliberate efforts to establish the payment rails for a new digital economy, through scalable blockchain infrastructure and great products for merchants and consumers. Their tech and vision are exactly the right kind of boost that ZoidPay needs to accelerate in our mission of enabling cryptocurrency users to buy anything from anywhere.” said Eduard Oneci, ZoidPay Co-Founder and CEO.
Elrond is a new blockchain architecture, designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
ZoidPay is a crypto liquidity platform enabling instant card issuance for purchases at any merchant at the lowest fees. ZoidPay was established in Cyprus in May 2018 as a blockchain company focused on making crypto payments easy for everyone, driving adoption to web 3.0 financial services.