- Platform promises to release billions locked up in cryptocurrencies to global economy
- Consumers will use leading cryptocurrencies via third party wallets
- Merchants will be able to receive crypto payments settled in local currencies
CLIC Technology Inc. announced October 2nd it is about to complete developing a blockchain-based gateway system that will allow merchants to accept cryptocurrency payments that settle in fiat currencies. The platform promises the ability to release billions of dollars held worldwide in cryptocurrency wallets into the global economy and facilitate its mainstreaming and adoption by institutional players.
The Blockchain startup announced the initiative in an official press release this week, stating that the “Blockchain-Payment Gateway System” will easily and quickly let consumers use the leading cryptocurrencies via third-party wallets or real-time payments using the CLIC crypto wallet for e-commerce purchases from merchants using a CLIC widget to accept crypto payments on its websites. The platform will enable merchants worldwide to receive CLIC settlements in their local fiat currencies.
The CLIC blockchain ecosystem promises to facilitate the transfer of billions of dollars that are locked up in the world of cryptocurrencies in wallets into the world’s economy besides becoming a bridge that will help in mainstreaming digital currencies into daily life, routine shopping, and business purchases.
The platform is already in the testing phase and it is likely to soon enter the first merchant agreements with chosen e-commerce websites that will give feedback to help in refining the final product before its launch. The company’s CEO Roman Bond states in the release:
“Our goal is to become a unique, secured, low-cost cryptoprocessor that is seamlessly integrated into financial services worldwide.”
CLIC Technology, Inc. is the developer, integrator and marketer of innovative blockchain products and services. The company’s platform lets consumers use cryptocurrency to make purchases both online and from brick-and-mortar merchants, and that enables merchants using the gateway to capture more global sales through diverse payment solutions.
CLIC is not the only player in the Payment Gateway game, but the announcement comes as cryptocurrency trading is slowly gaining momentum with large institutions, hedge funds, and leading financial institutions while trading desks are being opened at Wall Street’s biggest banks.
Institutional Interest on the Rise
Studies show that one in five firms are considering trading cryptocurrencies with that latest research by Digital Assets Research showing that institutional buyers are the leading buyers of cryptocurrencies in private sales. Another research by Thomson Reuters in April 2018 showed that 70 percent of firms were planning to trade in cryptos within the following three to six months. Neill Penney, head of trading at Reuters stated in a press release:
“Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry […] this is a major change from a year ago.”