Malta-based leading crypto wallet VegaWallet announced on Thursday the launch of public registrations for VegaPay; a new cryptocurrency enabled payments system. As per the official post shared on Medium, the wallet is targeted towards business, encouraging them to accept crypto payments to reduce costs and improve customer engagement.
Crypto payments is an increasingly growing industry, especially in emerging markets of Asia and Africa. Similarly, the demand for distributed payment systems also has a healthy demand in the European and South American countries. This makes the scope of growth quite high for VegaPay, as the company also provides a number of business solutions, including a complete Point-of-Sale system.
In the blog post, Chief Creative Officer at VegaWallet, Jacob Ballou stated that VegaPay uses a secure HD Wallet architecture that protects funds from internal theft and auditing errors. He further added,
Ballou also gave a glimpse of the future plans of VegaPay, which include a physical point-of-sale device, cash pickup services, crypto exchange for providing a traditional banking alternative, and crypto cards.