Businesses seek to increase cryptocurrency acceptance by providing simple crypto-to-fiat conversions and enhancing the user experience.
The banking business has altered tremendously as a result of the ATM’s self-service mentality. The ATM provided a means for consumers to spend their money. The most frequent instances involved impulsive purchases, bank transfers, increased spending on leisure activities, and cash withdrawals outside of banking hours. As a result, the consumer experience was enhanced, making a complicated set of transactions more approachable.
Today, people are beginning to migrate away from the cash economy and toward the broader banking system, utilising credit and debit cards and related products. As the world moves away from cash, new financial applications have developed, the majority of which use digital currencies. The only remaining gap is the usage of crypto for everyday transactions, which lack the instantaneity of an ATM.
In response to this existing market gap, Wanda Exchange, a Thai-based firm, has made it their mission to increase the adoption of crypto payments through their crypto-cash solution, which is currently undergoing patenting in Asia, Europe, and America. Any user can choose an ATM to transmit crypto online via the team’s web app; the cash equivalent will then be made available at the designated cash pick-up point, a method meant to increase the comfort level of digital currency users.
Wanda Exchange’s native WE coin will become a critical component of the platform under this paradigm, offering discounted rates in comparison to other cryptocurrencies. The benefit to users is the lowered fees, which are roughly 50% lower in WE than in other currencies for payments and cash withdrawals.
Recently, Wanda Exchange decided to increase its independence and is currently in the process of obtaining their own EU crypto licence in order to provide the service of exchanging virtual money for fiat currency. With a new crypto-cash exchange, funds are fully protected and use a brand-new infrastructure, optimised for cash-on- and cash-off-ramps to cryptocurrencies. This solution enables cryptocurrency users to obtain cash or purchase cryptocurrencies directly, without the requirement for a bank to act as a middleman.
Wanda Exchange began development in a unique manner, prioritising project development above token production. Their effort began in 2018 with the implementation of software by numerous partners throughout Thailand.
Previously, the platform’s WE token was pushed in conjunction with its listing on Gokumarket. Unfortunately, the crew has taken a different course after these first publications after falling victim to what appears to be a hoax.
In February 2022, Wanda exchange discovered that its liquidity and market-making tokens, private wallets, staking, and other incentives had been stolen from the exchange, with tokens being dumped on Pancakeswap (CAKE) and moved to a Binance hot wallet as CAKE. Since then, the team has been cooperating with the Securities and Exchange Commission of the United States, Hong Kong’s Financial Services, the Treasury Bureau, the Hong Kong police, and the Estonian Finance Ministry to examine these operations.
Wanda Exchange is shifting away from GokuMarket to purchase WE tokens in order to protect their community from potential withdrawal complications. Rather than that, consumers can continue to purchase WE tokens via PancakeSwap and, shortly, their own exchange. Since then, Wanda Exchange has taken steps to increase its independence by acquiring its own Exchange License for Europe, providing them access to the whole continent, including the United Kingdom and Switzerland. Due to these new happenings, the business is requesting that anyone who still has assets on Gokumarket contact Wanda to learn how to join the class action.
Despite the setback, Wanda Exchange remains committed to its aim of “linking traditional money to cryptocurrencies, and those who possess bitcoin to those who do not. Regardless of whether an individual is a merchant or an ATM retailer, they can take full benefit of digital currencies without understanding the underlying operations.”
The solution is now in its final phases and is prepared to link merchants to the Wanda Ecosystem as a partner of Wanda Exchange and to supply the public with more crypto-cash gateways.
Assisting with the online currency exchange
The company discusses their future goals, which include successfully integrating hundreds of cash pick-up locations to POS systems, which will be complemented by booking systems with a fully functional application.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.