Blockchain, provider of digital currency and distributed ledger software, has announced a partnership with Coinify, a blockchain payment & trading service provider, that will allow individuals to fund their wallets simply and quickly. The partnership aims to provide almost instantaneous wallet funding without compromising user security or control and is hoped to spur increased user adoption of bitcoin.
Peter Smith, Blockchain’s Chief Executive Officer, said: “Digital currencies and peer-to-peer transaction networks have the potential to modernize a financial system that is currently failing over a third of the global population. “This announcement represents a giant step forward in making bitcoin, still a nascent currency, a more compelling and efficient financial solution for new users.”
The Blockchain-Coinify integration seeks to eliminate the risks associated with purchasing bitcoin, including high fees, long settlement delays, untrustworthy service providers, and opaque identity verification procedures. Users funding their wallets will be able to instantly authenticate payment methods and purchase bitcoin by confirming the values of two separate, nuanced transactions charged to their cards. Users will also be able to purchase bitcoin directly from their bank accounts, although wallet funding through this channel will only happen at the speed that the bank transfers are able to settle.
Smith added: “At Blockchain, we are on a mission to build an open, accessible and fair financial future, one piece of software at a time. This partnership is a huge step toward realizing that accessibility mission. For the first time, users will not be subject to the delays, complexities, and security risks that have plagued digital currency adoption in the past. This partnership will make our wallet infinitely more user friendly and, ultimately, more accessible for the mass market.”
Blockchain aims to dramatically accelerate the re-engineering and modernization of the global financial system by on boarding millions of individuals worldwide into open P2P transaction networks over the coming years. In order to realize its vision, Blockchain is focused on building a series of localized onramps into its wallet that will make the acquisition of digital cash fast, easy and inexpensive for both banked and unbanked consumers across the globe. This partnership with Coinify, which will first launch in Europe, is the beginning of that product evolution. Blockchain will beta test the integration with select invite-only participants, working user feedback and learnings into an enhanced product for full global launch.
Coinify Co-Founder and CEO, Mark Højgaard commented: “Coinify shares in Blockchain’s mission to accelerate the adoption of digital currencies by making them more easily accessible. And we are honoured to be a part of this strategic partnership to serve millions of existing and new bitcoin users. With Blockchain’s dominant position in the cryptocurrency wallet market, I believe this will be a real game changer.”