- Greyp Bikes is a company which develops the world’s first fully connected e-bike.
- The bike manufacturer announced that it will accept cryptocurrencies as payments.
- It has developed payments platform for nine major cryptocurrencies namely Bitcoin, Ethereum, Bitcoin Cash, XLM, XRP, DAI, EOS, USDT and USDC.
What did Greyp Bikes Announce?
Greyp Bikes announced that it will accept payments for the purchase of its bikes in cryptocurrencies. For this purpose, it has developed payments platform for nine major cryptocurrencies namely Bitcoin, Ethereum, Bitcoin Cash, XLM, XRP, DAI, EOS, USDT and USDC. Although USDT and USDC are stablecoins, the company has chosen to accept them as payments.
The value of stable coins remains more or less the same. Thus, the value of the payments received by the company will remain the same. Thus, the company will not be able to profit off the payments received in stablecoins, in this case USDC and USDT.
An executive at Greyp Bikes marked that the company has always looked and adopted modern technology. Even the concept of an E-bike is relatively new and efficient. Thus, pursuing their passion for a dynamic technology, the firm decided to accept cryptocurrencies which are said to be the new revolution.
Greyp Bikes has established a partnership with Paycek, a payment processor network to develop the aforementioned cryptocurrency platform. Paycek is a leading payment processor developed by Electrocoin, a Croatian financial firm. Paycek has also helped various other small businesses to develop cryptocurrency payment platforms.
What is Greyp?
Greyp Bikes is a technological company which develops modern E-bikes. The company designs and engineers E-bikes and applies automatic intelligence and data augmentation to modernize their bikes. The company has set up its headquarters in Croatia, Europe. However, their products are being sold in various countries across the globe.
Thus, with the roll-out with the crypto payment facility, the company will receive payments from people around the world who buy their products. Since cryptocurrencies are not bound by international borders and taxes, customers can send any of the aforementioned nine cryptocurrencies to the company.
How will it be beneficial?
The roll-out of the newly established payment facility will be beneficial to each party involved, especially the company itself.
- The company will receive payments in appreciating assets such as Bitcoin and Ethereum.
- If the company chooses to hold the digital assets in their wallet, they can profit off of the capital appreciation.
- The customers have a wide variety of payment options. They can choose to pay in either fiat currency or one of the nine cryptocurrencies.
- Paycek, the payment processor, responsible for developing the payment system will generate another income stream as they will charge transaction fees for every purchase.