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WEST PALM BEACH, Fla., July 11, 2019/PRNewswire/ — Spend.com is excited to announce a new partnership with Paxos, the first regulated Trust company for digital assets. Both Spend.com and Paxos are focused on making it possible to move assets anywhere instantly, as Paxos is on a mission to create a global, frictionless economy.
Spend.com has integrated the itBit by Paxos cryptocurrency exchange into the Spend ecosystem. This integration allows users to easily spend their digital assets without having to move their cryptocurrency off exchange platforms. The itBit exchange is a safe, secure and fair-trading venue with oversight from the New York Department of Financial Services (DFS). Paxos has also implemented best-in-class blockchain monitoring software to protect its users and their assets.
Paxos is a regulated financial institution on a mission to create a global, frictionless economy. By building infrastructure to enable the movement between physical and digital assets, Paxos is creating a future where all assets—from money to commodities to securities—are digitized and can move instantaneously, 24/7. In 2015, the DFS granted Paxos a Trust charter, establishing it as the first company approved and regulated to offer crypto products and services. By seeking the highest forms of compliance and regulation, Paxos has distinguished itself within the blockchain industry and earned the trust of discerning institutional and individual investors.
Since then, they continue to operate within established regulatory frameworks while creating innovative new products. With offices in New York, London and Singapore, Paxos takes a global view of modernizing the financial system. Learn more at www.paxos.com.
With a quick and easy download from the App Store or on Google Play, the Spend App is a revolutionary banking platform that allows you to store, withdraw, send, sell, buy and spend your digital funds your way; fast and easily.
Spend users have the ability to send funds around the globe to other users (over 180 countries), exchange various different currencies instantly, view analytics of currencies, buy/sell currencies with their linked bank accounts, as well as Spend their currencies; all from the palm of their hand.
Currently; the Spend App supports:
- 16+ Cryptocurrencies
- 27 Fiat Currencies
Furthermore, Spend App users will have the ability to tie their digital wallet to the Spend Visa® Card. Once verified on the app, users are immediately issued a virtual card that is able to be used with online merchants instantly. While enjoying this feature, they can also order a physical card that can be used at any of the more than 40 million merchants around the globe that accept Visa.
With all Spend Visa ® Cards, users will enjoy advanced security features, both a virtual and physical card, 24/7 support, as well as both cash and wallet rewards.
At no point can cardholders load cryptocurrency such as Bitcoin onto their Spend Visa® Card. All cryptocurrency will be converted to the appropriate local fiat currency first on the Spend Wallet and then that local fiat currency will be loaded on the Spend Visa® Card for use in purchase and ATM withdrawals.