Singapore-based Blockchain Exchange Alliance (BXA) has plans to move into the retail payments market through partnerships and acquisitions.
To do so, the alliance will operate from a single order book and liquidity pool that will reduce prices and the tighten bid-ask spreads. It reckons this will also reduce price disparity, enabling it to supply multiple geographies with digital currency services.
The platform allows exchange users to make online purchases using crypto-to-fiat conversion via the BXA token.
Kangho Kim, director of BXA, says: “We believe our vision can be achieved through our efforts in North America.”
BXA has created technology so cryptocurrencies can be used to pay for goods and services online.
This enables users to make e-commerce purchases with cryptocurrencies in the same timeframe it takes to purchase with fiat, through QR codes and “one-click”.
It plans to secure at least 10,000 affiliate stores and platforms, which the firm says will allow it to compete (or integrate) with payment incumbents such as Google, Apple, PayPal, Venmo, WePay and Alipay, as well as credit card providers.
BXA has a presence in Asia, and says it is currently expanding into the American, Middle Eastern, and European markets. No details or timeframes on any of that.