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A successful and prominent ride-sharing app in Singapore is getting along to achieve its abilities for crypto payments by Request Finance
You might have already heard about it, and if not, then let us tell you that ride-sharing app Ryde is gearing up for its crypto payments boost with the capabilities of Request finance. The feature will allow it to expand its users’ options if they top up their Ryde ‘in app’ wallets. Other than this, the ride-sharing platform of Singapore has plans to launch an NFT project.
As far as Ryde is concerned, it was launched in 2014, and it’s a ride-hailing company based in Singapore that boasts having more than 200,000 active users monthly. The app services cater to the full suite of services, including on-demand mobility services, and plan to launch its initial public offering or IPO at approximately $200 million worth valuation this year.
Ryde became the first company to provide a ride-hailing facility in Singapore that accepts crypto payments, including bitcoin, during the pandemic due to Coronavirus in 2020. Although instead of plans either closed or staying limited, it’s now expanding its abilities of crypto payments further.
Users of the Ryde application from starting of thor quarter of 2022 will have the flexibility to choose from a huge and increasing list of currencies that are being supported to top up their wallets available in-app.
While cryptocurrencies are getting recognition and adoption in the mainstream globally, it makes sense if Ryde would want to avail the offer for its users to choose from more crypto options. For its plan to move along for crypto payments, Ryde has selected Request Finance, a firm that is considered better than Coinbase Commerce.
Over the past couple of years, the adoption of cryptocurrencies and virtual assets has seen a drastic increment, along with companies like Tesla joining in. Although international brands are known for ride-hailing, such companies like Uber are yet to step into the payment mechanics that would include digital assets. For a reason for not adopting crypto for payment purposes, critics cite the volatility which they possess and the high cost of a transaction that makes it not sustainable being a payment option.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
