PayFbit has launched a suite of payment products including a wallet, P2P exchange, cryptocurrency exchange, and smart cards, involving the use of cryptocurrency.
These products have been developed using blockchain technology.
PayFbit users can use the wallet to store, send, and receive crypto and fiat assets.
The PayFbit P2P Exchange can be used for peer-to-peer trading of digital assets.
Similarly, the PayFbit cryptocurrency exchange platform can be used to trade top cryptocurrencies.
Lastly, the smart card is clubbed with the wallet, allowing users to settle cryptocurrency payments.
These products will work side-by-side to give users a unified blockchain-based payment experience.
PayFbit has launched an ICO to support the ecosystem’s development. The five-month program started this month and will run until December 2020.
At the beginning of the program, the company will offer its PayFbit Token (PFBT) at as low as $0.10.
This token can be bought with Bitcoin, Ethereum, Tether, Litecoin, and Dash cryptocurrencies.
The token price will rise incrementally as the ICO event progresses.
Moreover, PayFbit introduced a bounty program and a referral program, alongside the ICO event.
These activities are said to help users engage with PayFbit’s platform and earn rewards.
In a press release, PayFbit said: “Cryptocurrency usage is picking up pace in recent times.
“Factors, such as decentralization, negligible transaction fees, and interoperability, are some of the many factors driving this trend.
“However, the technology behind these decentralized assets is complex and confusing.
“PayFbit understands this disconnect in the market and has developed products tailored to offer simplicity and convenience to the user.”