QTUM Surges 24% After Announcement Relating to Apple Pay and Samsung Pay

Siamak Masnavi

On Thursday (March 14th), Qtum (QTUM) surged over 26% after the Singapore-based Qtum Foundation and London-based FinTech startup Zuex delivered some good news: Zuex, which calls itself "The World's First Crypto Mobile Payment and Investment App", would be listing "QTUM tokens in its digital payment wallet, to allow users to spend QTUM for all point-of-sale payments."

On its website, Qtum is described as "a global project that aims to be the bridge between the Bitcoin and Ethereum communities, the real world and blockchain world" that is backed by "some of the most notable blockchain players, traditional Venture Capitalists, and executives from some of China’s largest technology companies."

This is what Abra wrote in July 2018 in its "Ultimate Guide to Altcoins" document about QTUM:

"A rarity in the blockchain world, Qtum is also backward compatible with Ethereum contracts as well as Bitcoin gateways and will remain backward compatible even after updates. This allows for easy platform adoption and a 'plug and play' methodology that leans upon what other technologies in the space have done well."

And this is how Poloniex described Qtum in a June 2018 blog post:

"The Qtum (pronounced Quantum) blockchain is a public smart contract platform that combines aspects of both Bitcoin and Ethereum. The Qtum team chose Bitcoin (and its UTXO model of record-keeping) as the base of the protocol because of Bitcoin’s proven track record of security and stability. On top of this base, Qtum integrates the Ethereum Virtual Machine (EVM) (and potentially other VMs in the future) in order to support a diverse decentralized application ecosystem. QTUM is the native token of the Qtum blockchain, and acts as both gas for Qtum smart contracts and as a reward for securing the network through staking."

As for Zeux, it says that it provides "a simpler way to pay, bank and invest by integrating all these services onto one place — the Zeux app," leveraging "a long list of third-party partners to provide integrated investment products to its customers."

Miguel Palencia, Chief Information Officer of QTUM Foundation, had this to say about the partnership with Zeux:

“We’re excited that Zeux has added QTUM to its app. This adds a tremendous amount of additional utility for our valued community who can now use QTUM for all point-of-sale payments with merchants that accept Apple Pay, and Samsung Pay. Zeux has created a seamless way for people to use crypto in their day-to-day lives without the friction of choosing from a select group of merchants who accept crypto directly.”

Here is the Qtum team announced the news on Twitter at 13:44 UTC today:

The Qtum Foundation's blog post says that "Zeux will launch publicly its multi-function app in April where it will become available in Europe."

The QTUM price surged over 41% from $2.16 at 13:30 UTC to an intraday high of $3.06 at 14:30 UTC, i.e. within 45 minutes of the announcement, but it has slightly come down since then; at press time (17:50 UTC), QTUM is trading at $2.68, up over 24.07% in the past 24-hour period, as you can see in the 24-hour chart below (provided by CryptoCompare):

CC 24 Hour Chart for QTUM - 14 March 2019.png

Featured Image Courtesy of Qtum Foundation 

Binance Acquires Crypto Debit Card Issuer for an Undisclosed Sum

Leading cryptocurrency exchange Binance has acquired cryptocurrency debit card issuer Swipe for an undisclosed sum, in a deal that gets the platform one step closer to issuing its Binance Card.

Finance Magnates reports the firms shared revealed the companies will “work together to further mainstream adoption of cryptocurrencies,” by further bringing fiat and digital assets together. The deal will allow for cryptos to be used as a payment method in the traditional financial system.

Binance unveiled its plan to launch a Visa crypto debit card earlier this year, but was having difficulties implementing it. The acquisition of crypto start Swipe should help fix these difficulties and support the exchange in its “mission of making crypto more accessible to the masses.”

Per Binance CEO Changpeng Zhao, off-ramps are a key component to be considered in its mission. He added:

By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone.

Binance and Swipe listed each other’s native tokens as part of the deal. Binance now has trading pairs for Swipe’s SXP token, while the Binance Coin (BNB) was added to the cryptocurrencies, stablecoins, and fiat currencies available as a payment method on Swipe.

Swipe, it’s worth noting, converts cryptoassets into fiat currencies at the point of purchase. Users pay in a cryptoassets of their choice, which is then converted into fiat currency the merchant receives, so the latter does not have to manage cryptoassets, or accept payments in them directly.

Swipe’s cards are issued by Contis Financial Services, a visa Principal Member regulated by the UK’s Financial Conduct Authority. They are available in 31 countries within the European Economic Area, and support transactions in euros, pounds, U.S. dollars, Korean won, and Philippine pesos.

The firm’s CEO Joselito Lizarondo revealed partnering will Binance will “place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide.” Binance Card users will be able to get up to 4% cashback in bitcoin on their purchases, which will be available in over 50 million locations in the world.

Featured image via Pixabay.