Fantom blockchain co-founder, Andre Cronje, has revealed on Twitter that he is currently working on a new crypto payment infrastructure project. Cronje also shared that a closed beta version of the product has been launched. The update came after crypto enthusiast Michael Egorov complained on Twitter that his bank accounts with Revolut, a British bank, were closed for involvement in cryptocurrencies. Egorov tweeted, “They closed my personal and business accounts once they got information from me showing that the source of funds is crypto,” and concluded that “they are not the future.”
Cronje has stated that the crypto infrastructure under development would be unavailable to US citizens due to regulatory constraints in the country. When asked about the project’s licensing and the possibility of having no know-your-customer (KYC) procedures, Cronje replied that it would be a standard banking license. “We can’t avoid KYC,” he added.
This new development is expected to bring more flexibility to the crypto payments industry, making it easier for people to transact with digital assets without worrying about the cumbersome processes involved in traditional financial systems. While the Fantom founder did not provide many details about the project’s expected launch date, his tweet has sparked interest in the crypto community as many crypto enthusiasts sought to be added to the closed Beta.
Fantom is a blockchain platform focused on high-speed transactions, designed to enable decentralized applications (dApps) and digital assets to function efficiently and securely. Its utility token, FTM, ranks among the most significant crypto with over $1.2 billion in market share.
Cronje’s new crypto payment infrastructure project is expected to be a game-changer in the crypto payments industry. The project will offer a more flexible and efficient way for people to transact with digital assets without worrying about traditional financial systems’ cumbersome processes. The closed beta version of the product has already been launched, and many crypto enthusiasts are seeking to be added to the program.
However, the infrastructure will not be available to US citizens due to regulatory constraints in the country. Cronje has stated that the project will have a standard banking license and that KYC procedures cannot be avoided.
Fantom is a blockchain platform that enables decentralized applications and digital assets to function securely and efficiently. The platform’s utility token, FTM, is among the most significant crypto, with a market share of over $1.2 billion. The new crypto payment infrastructure project is expected to further enhance the platform’s capabilities and boost its market share.
