In an effort to bring instant, dollar-stable crypto payments to a mainstream audience, Mosendo has implemented Connext’s payment channel technology in their forthcoming wallet.
Connext, whose plug-and-play Layer 2 scaling solution reduces the transaction fees and confirmation times associated with onchain transactions, will serve as the backbone for Mosendo’s social payments application.
“When infrastructure meets user experience focused products like this we see the opportunity for a leapfrog event with money,” said Rossco Paddison, Chief Executive Officer at Depfi. “At Depfi, we created Mosendo with the world’s 4.2B underbanked in mind and our research indicates smartphone penetration combined with censorship resistant stable like DAI from Maker could well be the recipe for mass .”
What does this integration enable?
With scalable and stable crypto payments, it becomes possible to mimic the user experience of existing payment systems, but without the drawbacks of high-cost minimums, difficult onboarding, or inability to do peer to peer payments.
“Connext was founded to bring down the barriers that prevent mainstream audiences from using crypto,” said Hunter Hillman, Head of Growth at Connext. “Mosendo is showing that crypto payments can be a simple, fast, and fun experience — and we’re thrilled to help make their vision a reality.”
Mosendo , and they’re excited to share their work with a wider audience in the near future. Connext, meanwhile, recently announced that Version 2 of their network will be based on the Counterfactual framework, reducing redundancy and improving Layer 2 interoperability for wallets.
Published at Wed, 22 May 2019 14:13:39 +0000
