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Homepage / News November 24, 2017 208 views

Bitcoin Exchange Bitstamp Gets Masterpayment, Cuts Fees to five%

Bitcoin Exchange Bitstamp Gets Masterpayment, Cuts Charges to 5%

Exchange Bitstamp Gets Masterpayment, Cuts Fees to 5%


Second only to Kraken by volume, generating it a single of the biggest cryptocurrency exchanges in the planet, Bitstamp&nbsphas partnered with Masterpayment, the exchange’s new payment service provider. “Not only does this imply more rapidly and much more practical transactions for our consumers,” the exchange explained in a swift press release, “we have also been capable to&nbspslash our costs to 5%.”

Also read:&nbspBitstamp’s CEO Explains His Choice to List Bitcoin Money

Top Bitcoin Exchange, Bitstamp, Gets Masterpayment, Cuts Fees to 5%
Bitstamp information gif

Bitstamp Exchange Teams with Masterpayment

In a 22 November 2017 statement from Bitstamp, the organization explained its move to a new payment provider: “Masterpayment’s solutions, which are offered in all 4 of our cryptocurrencies and practically 90 countries around the globe, will be utilised to approach all of the credit and debit card crypto purchases created on the Bitstamp platform.”

Bitstamp accommodates bitcoin, litecoin, ether and ripple.

Charges Reduce by Almost Half

Transaction costs will drop, according to Masterpayment, from Bitstamp’s usual eight % down to 5. As a payment service provider, Masterpayment details how it brings “the regulatory framework of a renowned bank, which provides added value, including payout alternatives in 14 settlement currencies, as well as corporate accounts through the in-home acquiring bank.”

In summer season of final year, Masterpayment was gobbled up by Net1 UEPS Technologies, Inc. with hopes to “accelerate the wider implementation of Masterpayment’s organization model across very carefully selected markets,” Net1 CEO Serge Belamant mentioned at the time.
Top Bitcoin Exchange, Bitstamp, Gets Masterpayment, Cuts Fees to 5%

Net1 gives alternate payment systems through its proprietary Universal Electronic Payment Method (UEPS).&nbspUEPS is largely geared at unbanked populations using biometrics, and is also used in fundamental identification, healthcare management, voting, remittances, etc. Net1 is a huge player in Africa and Asia, and with its acquisition of Masterpayment, Net1 plans on expanding far more in Europe. Net1 is listed on the NASDAQ and this is the company’s 1st engagement with the cryptocurrency industry.

What do you believe of giants like Net1 getting into the ecosystem? Tell us in the comments under!

Photos courtesy of: Wiki Commons, Bitstamp.&nbsp

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Published at Fri, 24 Nov 2017 18:20:31 +0000