Source: Pixabay / Michael WuenschDigital payment company AsiaPay has partnered with BLOX, a Malaysian web3 firm, to explore payment solutions around digital assets in the country.
In a Jan 10 press release, the firm explained the need to look into other payment options as more sectors emerge and businesses scale rapidly in the country and the wider sub-region.
AsiaPay will look into crypto-as-a-service solutions in the country and has signed a memorandum of understanding to that effect citing the several benefits for businesses to onboard more purchase options.
AsiaPay is the latest example of crypto adoption in the financial market
The popularity of Bitcoin (BTC) and other cryptocurrencies have surged in recent years becoming a payment option for many people and a major remittance instrument.
“With consumers increasingly opting for new payment methods that are simple yet secure, cryptocurrencies are rapidly becoming popular across the globe.”
Recent reports also place the massive uptick in web3 education in the Asian market leading to several countries creating hubs and rolling out regulatory frameworks to attract firms to cities.
According to the statement, cryptocurrency payment providers need to act as intermediaries between consumers and businesses to remove all complexities involved and facilitate adoption while targeting more use cases.
With this, merchants’ back end becomes more seamless as they scale to more jurisdictions. Cryptocurrencies have long been tipped to aid cross-border payments by many international corporations.
