Sydney, Australia, 24th Nov 2023 – Startup Grineo announced the beta launch of its digital currency payment card service on November 20, with support for two key digital assets USDT, USDC. The payment processor eliminates third parties and allows merchants to accept digital currencies in a custodial fashion and users to spend their digital assets as fiat.
While the private beta version of Grineo is currently available to a select group of testers, the team invites interested individuals to register and experience the digital payment app for themselves. Now you can join the waitlist at grineopay.com and become one of the firsts testers. As the founders stated during the beta launch, Grineo’s centralised payment processor ensures that funds go straight to the owner’s wallet, giving them complete control and immediate ownership of their money. Funds are converted automatically with no action need on the merchant or consumer end.
Grineo supports Australian, British, and American fiat currencies and offers full support for USDC issued by Circle, USDT issued on the TRON and Ethereum networks. The app’s versatile features include the ability to generate payment URLs and buttons, as well as traditional Point-of-Sale services. For the convenience of website developers, Grineo also offers an API and plugins for an easy integration.
One of the most impressive aspects of Grineo is its unique approach to KYC (Know Your Customer) compliance. The app’s digital wallet generates a new payment address for each invoice and offers a solution for individuals and organizations looking to comply with KYC requirements. Additionally, Grineo’s integration with the CCXT protocol allows for seamless digital currency-to-fiat transfers to any exchange.
“The API will allow to set an interval where funds will be automatically sent to the exchange, create an order from digital asset to fiat and lastly request a withdrawal back to the bank,” Grineo’s Chief Expansion Officer, Olesia Kostieieva explained.
But Grineo is not without its competitors. What sets this Australia-based company apart is its lightning-fast transactions and minimal fees, as well as a strong focus on customer service. Unlike other payment processors, Grineo operates as an open-source platform, providing digital currency orders that can be paid from its digital wallet, with funds sourced from a linked debit card.
Grineo has big plans to expand the beta to other chains in the future, with a physical launch of their encrypted card slated for early 2024. “This global application will allow Grineo users to enjoy ATM withdrawals in fiat currencies worldwide and use the card for in-person transactions, making everyday purchases with digital currencies a reality,” says Nikolay Kalistratov, CEO of Grineo, during a product presentation at the Blockies Awards in Melbourne on November 9th 2023.
Earlier in 2024, before the introduction of the physical card, Grineo will represent its virtual card and app, which supports payment services such as Apple Pay, Google Pay, PayPal, Alipay, and WeChat Pay. Users will be using digital currencies for a vast majority of everyday transactions — from public transportation to dining, shopping, Uber rides, Netflix subscriptions, and many more.
In the real-world the physical Grineo card primarily addresses the need for ATM withdrawals. Users with the physical card can withdraw local currency from any ATM globally. Additionally, the card increases the platform’s compatibility in regions where electronic payments are still uncommon, allowing users to make in-person card swipes or tap payments.
To apply for a Grineo card, interested individuals can simply join the waitlist on the company’s website. After the launch, users can download the app from the Apple Store or Google Play, verify their identity, and apply for a physical or virtual card. It’s important to note that card application fees must be pre-loaded in the form of digital currency into the Grineo wallet.
It’s important to note that Grineo serves residents of Australia, and users are advised to check the official website for relevant information before verifying their identity and making deposits.
Rest assured, Grineo operates within Australia’s regulatory framework, ensuring the utmost safety and legality of user assets. The platform has also established partnerships with authoritative third-party platforms to further strengthen security and compliance. KYC and transaction monitoring tools are in place to prevent illegal activities, and each user is assigned a unique blockchain address, ensuring the safety of their assets in any scenario.
Currently, Grineo checks its application list against over a hundred sanction lists, including but not limited to those under the United Nations Sanctions Ordinance and the United Nations (Anti-Terrorism Measures) Ordinance. For transaction monitoring (KYT), Grineo employes tools like EagleEye and Trace to monitor financial activities across the platforms, ensuring the security of users’ digital assets.
Furthermore, a unique blockchain address is assigned for each user, as well as separating the card from the user’s assets. This ensures issues, such as the freezing of Grineo cards, don’t affect the users’ wallets and assets. Users can freely deposit or withdraw assets from their Grineo wallet without any restrictions.
The assets of Grineo users are safely held by a licensed company in Australia. Thus, Grineo users are registered as the owners of their digital assets, ensuring ownership rights in scenarios like company bankruptcy.
Since the principle behind Grineo’s debit card involves users gaining fiat credit limits by depositing digital assets, there are no additional deposit fees or holding periods like other traditional digital currency cards. For users who are sensitive to security and centralization concerns, the safest approach is a “pay-as-you-go” method, ensuring financial security under any circumstance.
Users are reminded that the availability of Grineo’s products and services is subject to jurisdictional limitations. By using the card, users agree to the terms of service, privacy policy, and associated fee schedules.
About Grineo
Discover the innovative world of GrineoPay – the ultimate gateway to the digital currency economy in Australia. Our carefully crafted suite of products, led by the Grineo Wallet+Card, is designed to cater to all levels of users with its intuitive interface and advanced trading features. Headquartered in the bustling cities of Sydney and Melbourne, our fully regulated company, Grineo Pty Ltd, is backed by a team of banking and FinTech experts. Be a part of the digital currency revolution and join us at our headquarters on Level 14, 5 Martin Place, Sydney, NSW 2000, Australia.
Unleash the potential of digital currency with GrineoPay – visit our website https://grineopay.com now!
Media Contact
Organization: Grineo Pty Ltd
Contact Person: Anna
Website: https://grineopay.com
Email: Send Email
Address: Level 14, 5 Martin Place
City: Sydney
Country: Australia
Release Id: 2411237942
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