A new app has mainstream retailers convinced they should give crypto a shot.
On Monday, payment startup Flexa announced the release of a cryptocurrency app called SPEDN, which allows users to pay for goods with four cryptocurrencies: bitcoin, ethereum, bitcoin cash, and the Gemini dollar.
Though far from being the first cryptocurrency payment app, SPEDN does have something unique going for it: a list of major companies, including Whole Foods, Nordstrom, and Lowe's, willing to accept its payments — a sign that crypto might finally be breaking through to mainstream retail.
Making a payment via SPEDN seems about as easy as using any other digital wallet. Users transfer crypto to the app, then scan it at the cash register to have the crypto deducted from their wallet as payment.
According to a story by Fortune, retailers just had to configure the scanners they're already using to accept payments to recognize SPEDN.
That simplicity of integration could convince other retailers to give Flexa's crypto app a try — assuming this first slate of shops finds the process worthwhile.
READ MORE: Bitcoin Comes to Whole Foods, Major Retailers in Coup for Digital Currency [Fortune]
More on crypto: The First Major U.S. Bank Just Launched a Cryptocurrency
Share This Article