New way to con­vert dig­i­tal as­sets in UAE

Khaleej Times - - NATION - Staff Re­port

dubai — Dig­i­tal fi­nan­cial plat­form Pay­cent is launch­ing the Pay­cent debit card, which will help users in­stantly con­vert dig­i­tal as­sets into lo­cal cur­ren­cies for use or with­drawal from au­to­mated teller machines, elim­i­nat­ing the need to go to des­ig­nated ex­changes to do so.

This is the first such pay­ment so­lu­tion that cuts across all bar­ri­ers and in­stantly con­verts all dig­i­tal cur­ren­cies to fiat cur­ren­cies, such as the US dol­lar and UAE dirham.

The Pay­cent ap­pli­ca­tion works like a dig­i­tal bank ac­count to their in­vestors. The com­pany is build­ing a re­mit­tance net­work and plug it into its mo­bile wallet so, in ad­di­tion to hav­ing an ATM with­drawal op­tion, the user will be able to trans­fer funds in real-time any­where in the world.

In re­al­ity, it is a mo­bile wallet for fiat and dig­i­tal as­sets with a debit card and will in­clude money

The full ecosys­tem al­lows pay­ments for daily house­hold spend such as util­i­ties, restau­rant, Atm, etc Nitin Gupta, COO of Pay­cent

trans­fer fea­ture. “We are bring­ing the fi­nan­cial tech­nolo­gies of the Fourth In­dus­trial Revo­lu­tion to to­day’s cus­tomers — es­pe­cially mil­len­ni­als, who deal in both the fiat and dig­i­tal cur­ren­cies — and need a plat­form to con­vert them in­stantly,” Nitin Gupta, chief op­er­at­ing of­fi­cer of Pay­cent.

“Pay­cent is a global mo­bile dual e-wallet that can be funded by dig­i­tal cur­ren­cies [Pay­cen­tos, Bit­coin, Ether, Lite­coin or Bit­coin cash] with high-liq­uid­ity and fiat cur­ren­cies within the same mo­bile ap­pli­ca­tion... the full ecosys­tem of Pay­cent al­lows pay­ments for daily house­hold spend such as util­i­ties, restau­rant, ATM, etc.”

— busi­ness@khalee­j­

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