Cara Harbor, Director of Communications at IOTA Foundation, shared the news on 21 March that Zeux Payments would allow users to use MIOTA tokens as payment.
Cara commenced by highlighting that the payments and banking services app Zeux has struck a bond with IOTA foundation on this venture. Merchants that accept Apple Pay and Samsung Pay would now support MIOTA tokens.
Cara conveyed the stand of Zeux in the market. Zeux is a financial service company authorized by the Financial Conduct Authority (FCA). Cara shared information that Zeux would launch in Europe next month and in the US the coming year. Zeux would be supported on a host of retail businesses ranging from coffee shops to grocery stores.
Cara further expressed that Zeux provides a simpler way to pay, bank and invest by combining all these services into one package. She emphasized that Zeux is a digital banking solution suited for both fiat and cryptocurrencies. Zeux charges no fees for account opening, money transfers, top-up or crypto payments.
David Sønstebø, founder and co-chairman of IOTA Foundation, cited –
“This partnership with Zeux will provide a significant convenience benefit for IOTA ecosystem. We are very excited for this. Now IOTA digital currency can be used as payment with merchants that accept Apple Pay and Samsung Pay. By combining existing technology with another form of currency, this is a big step forward towards the adoption of crypto for the masses.’’
Last week, Qtum, an open-sourced blockchain application platform, had reported about adding its cryptocurrency Qtum to Zeux app. Qtum had noted the difficulty of using cryptocurrencies and getting universal acceptance from merchants. Zeux would help in removing friction associated while using Qtum practically.
Frank Zhou, Founder, and CEO of Zeux expressed that the partnership would foster the widespread adoption of cryptocurrency. Frank expressed much enthusiasm about Zeux’s partnership with IOTA. Frank noted that as a distributed ledger with zero transaction fees, IOTA’s blockchain is promising for building customer data Dapp. Zeux was looking forward to working with IOTA and empower IOTA customers with more features.
Cara concluded by sharing some insights on Zeux and IOTA Foundation. Zeux had also introduced the ZeuxCoin Token (ZUC), a loyalty holding and payment fee token. IOTA is a not-for-profit foundation based in Germany. The IOTA Foundation’s mission is to support the development of new distributed ledger technologies (DLT), including the IOTA Tangle. The IOTA Tangle is a different type of DLT specifically designed for the Internet of Things (IoT) ecosystem.