Fintech Head Urges for Cryptocurrency Adoption
A leading executive of a financial technology startup has voiced his opinion, calling on all businesses within the United Kingdom to adopt cryptocurrencies into the systems as a means of handling and stabilizing the effects of Brexit.
Plutus, a fintech company located in London and launched by Danial Daychopan, operates and manages a simple tap-pay application that enables its users to spend any of their digital coins at any NFC-providing terminal around the world. The app saw its official release earlier this year during May and allows its users to deposit Bitcoin, ETH and even Pluton and be able to spend the cryptocurrencies anywhere of their choosing.
The founder states that digital currencies are being adopted even more, specifically into the mainstream, as a result of customers and distinguished financial firms. According to him, traditional currencies like the Euro are essentially standalone and continue struggling in terms of instability around the world, but on the other hand, cryptocurrencies offer a strong and stable approach to consumers and companies of all kind due to their decentralized nature.
As Daychopan states, national currencies are hardly stable as they do rely on the public’s faith and regards towards their respective governments and the international finance system. He adds that unstable economies are already transitioning to digital ones and are performing exceptionally well. According to Danial, given that cryptocurrencies are a safe and sturdy technology with the added benefit of decentralization, it makes them an invaluable tool for aiding an economy during a financial crisis.
The company’s application was released three years ago and has managed to gather around $1 million USD in a crowdfunding. Additionally, the company operates the PlutusDEX exchange, trading cryptocurrencies for GBP and EUR instantly following a payment and vendors also instantly receive their pay without any extra costs.