Estonia-based startup MinexPay, the creator of Minexcoin, has announced public testing of their web wallet for Minexpay Crypto Cards. With no clear solution for crypto banking solutions available, this is MinexPay’s shot at providing MinexCoin holders with features that outshine the competition.
Crypto payment solutions often profess to allowing users to “be their own bank” – but without the ability to hold funds in cryptocurrency-enabled bank accounts, users are left to making their own solutions through software or hardware wallets which are publicly available.
Realizing that there is no old solution which could work here, MinexCoin has decided to make their own web wallet and crypto card combo service to be one of the most seamless, fast, smooth, and secure to win over a huge market segment of crypto users, while keeping operations scalable to providing the level of excellent service users of the service expect.
Critical functions of the rollout will include: sending and receiving fiat/crypto, converting fiat to crypto and vice versa, and securely storing funds. The web wallet will perform most of the heavy lifting for the above functions, but the plastic crypto card will operate in a POS setting, allowing for users to use their crypto in a staggering number of real-world transactional situations.
The team working on Minex Systems have designed the wallet with efficiency in mind to make payments as fast as possible, as well as allowing the entire ecosystem to work with any kind of bank payment. The Minex Web Wallet is card issuer agnostic, which lets users of Mastercard, VISA, AMEX and others work with the system.
As Boris Shulyaev, CEO of MinexSystems, has commented:
“We want to provide a seamless service for any customer, wherever he or she is. MinexPay is the only solution designed to work globally. We believe that cryptocurrency holders want to use their crypto funds as ordinary money. This is why we focused on the MinexPay Web Wallet service first, with the card as a financial management instrument.”
To ensure users will experience a bug-free and smooth onboarding process when the platform goes live, cards issued by Ukraine’s PrivatBank have been circulated for a public beta test. At this time, they are not cryptocurrency cards, as crypto is not being sent to user bank accounts, rather, liquidity providers for MinexSystems will help make the exchange from cryptocurrency to fiat, allowing for Minex to truly field test their system while maintaining full legal compliance.
Data will be gathered during this process, and any necessary fixes or improvements will be implemented before issuing Minex-branded cards for users in the full release of the platform.