Dtcpay Launches Cryptocurrency Payment Network
Date: 2023-11-22 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Creating a Digital Payment Ecosystem
Dtcpay, formerly known as the Digital Treasures Center, is renowned for offering cutting-edge digital currency payment services. The company enables partners and vendors to accept payments in both traditional and digital currencies. In addition to the recent partnership with PlatON and Allinpay International, Dtcpay has formed alliances with the verification platform Sumsub. This collaboration aims to enhance the security and reliability of digital currency payments in key markets, such as Singapore, Hong Kong, Dubai, the UK, and Europe.
Expanding Collaborations for Secure Transactions
In September, Dtcpay entered a partnership with Jeripay, a Singapore-based PoS technology developer, to integrate cryptocurrency into the Jeripay 8000 terminal network. This collaboration unfolds amidst evolving cryptocurrency regulations in Singapore, focused on enhancing consumer protection.
Shaping the Future of Digital Currency
Major cryptocurrency players like Coinbase and Ripple have already obtained payment institution licenses from the Monetary Authority of Singapore (MAS). MAS is also exploring the potential of central bank digital currencies (CBDCs). Project Orchid, a key component of this evolving landscape, has completed its first phase. The research project on CBDC retail trading aims to create digital currencies for specific purposes, bringing together major banks and governmental institutions in a series of pilot trials.
MAS’s Progressive Approach
While retail CBDCs are not yet mainstream, the report highlights the growing popularity of non-Singapore dollar-denominated digital currencies at the local level. To align with these developments, MAS is exploring the concept of programmable or automatically executable digital currencies, considering predefined usage scenarios.
