- LegionPay works on the triple-A technology and aims to offer crypto solutions to everyone
- Market research from business wire conducted in 2019 states that the cryptocurrencies in retail will increase by 65% in the coming time
- $10 million worth’s transaction in the cryptocurrency is occurring every day.
Cyprus traditionally has always been a trade hub for its neighbouring countries. So it doesn’t come as a surprise to see that cryptocurrencies trade too is catching up in the area and LegionPay was launched in the country is a step to bring cryptocurrency’s use more in business.
As per their website, LegionPay works on the triple-A technology and aims to offer crypto solutions to everyone. They have a user base of more than 150 million active bitcoin users aims to connect the merchants and users through crypto payment options.
Retail Market Growing Fastly in Crypto-World
Quoting Andrew Anastasiou, Cypriot entrepreneur and Co-founder of LegionPay “The quantity of retail commercial enterprise carried out round the sector is formidable.” Market research from business wire conducted in 2019 states that the cryptocurrencies in retail will increase by 65% in the coming time. LegionPay is aiming to connect the smaller merchants and businesses with the cryptocurrency. This was expressed by Andrew in continuation of his statement.
Pandemic has also changed the way the crypto industry is functioning. With daily fluctuations in the market traders and crypto, users are always looking to buy or sell their assets. The same could be found in the report of chain analysis that $10 million worth’s transaction is occurring every day.
LegionPay is entering the market to cover the higher cost that is charged for transactions and provide services at a faster speed. A transaction that takes 3 days and charges €10 could be completed with €1 fees and in an hour. In fact, the problem of digital payment is faced by several companies as mentioned by SEB.
LegionPay claims that they are completing the same transactions in around 10 minutes. One of the executives Theo Antoniou from LegionPay says they are not only providing the faster services but also based on blockchain, it cuts the middle person and doesn’t slow down the things as no third party is involved.