Mainstream adoption for cryptocurrencies is still a problem that is in continues need of attention from the crypto sphere and Aave Pay is doing just that for its users. The application launched by the Estonia based tech company Aave allows cryptocurrency users to make payments in six different fiat currencies using the international bank account details of the receiving party.
The application can be used to make tax payments, bill payments, simple transfers and any other payment the user may require following the same procedure. The application is a gateway payment service that allows crypto to fiat transfers in the United States dollar (USD), Great British Pound (GBP), Euro (EUR), Swiss Franc (CHF) and Indian Rupee (INR).
The Chief Executive Officer (CEO) of the firm expressed in the official release that the company is aiming to increase mass adoptability of cryptocurrencies with its latest service. Stani Kulechov further stated that,
“This new application eliminates the obstacles of using crypto in our everyday lives. It addresses crypto’s spendability problem and builds a bridge for crypto to cross over into mainstream use.”
The service is available through websites, mobile phones and allows simply interface that would keep the process simple. Payments can be made to the International Bank Account Numbers (IBAN) using the service and users can then track their payments. The service is incurring exchange rates on each transaction and confirms the transaction for the said rate before making the transaction.
