In an interesting turn of events, Bitcoin wallet provider Mycelium and the Waves platform have formed a strategic partnership. As a result of this agreement, national currency transfers will be made available to Mycelium users in the future.
Most people are well aware of the current Mycelium crowdsale which is taking place right now. As a result of this crowdsale, new features will be added to the popular Android Bitcoin wallet solution as well. One of those features comes in the form of adding support for national currency transfers, which is where the Waves team comes into the picture.
Waves is a blockchain-based colored coins platform, which will allow for future decentralized value transfers all over the world. Moreover, these transfers will be backed by centralized gateways, which facilitate exchanges of these custom blockchain tokens. These custom tokens can be tied to any form of value, including national currencies.
Some people might question how the Waves vision fits into the compliance and regulatory landscape, but everything would be up to par thanks to the involvement of these gateways. After all, these gateways make the AML and KYC policies, which indirectly makes decentralized blockchain transfers compliant as well.
The shift by Mycelium from a Bitcoin-only to a multi-currency mobile wallet solution is quite significant. Multiple major cryptocurrencies will be supported, along with blockchain services and fiat token integration. This change will bring a lot of positive attention to Mycelium and anyone who partners with them in the future, as an entirely new money transfer service is created.
The way things stand right now, this new service should launch in the Summer of 2016 although no specific date has been announced yet. Adding the service to the Mycelium wallet will take place later this year. In fact, the fiat token transfer solution is one of the first blockchain-powered solutions of its kind to be found in mobile applications.
Source: News Tip Via Email
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
The team behind Starknet has introduced a new token standard aimed at solving one of…
In a move that highlights the growing race to build infrastructure for autonomous artificial intelligence,…
Prediction market platform Polymarket has entered a new partnership with Palantir Technologies and artificial intelligence…
The Ethereum Foundation has begun staking part of its treasury, marking a significant step in…
Fresh reports circulating in the crypto space suggest that Wei Jiequan, better known as Wilson…
The infrastructure powering autonomous AI agents on Ethereum is slowly coming together. Payments, trust layers,…
