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Lynx announces its metaverse payments strategy

Wednesday 12 January 2022 14:50 CET | News

Canada-based Lynx has extended its financial infrastructure to include support for metaverse based services.

This will extend the company's current offering to provide financial service to its targeted client base in the markets of Southeast Asia. From previous acquisition of BRB (Philippines) and its other regional operations, Lynx has a bank and relevant crypto license, as well as electronic money issuer license.

The focus is now to fully integrate the existing financial payment and infrastructure with a metaverse virtual community. The company will be evaluating the opportunities in the metaverse but has identified two use cases that will be the focus of its initial product offering:

Play to Earn (P2E)

P2E is defined by a work population that are playing crypto based games to create and earn valuable digital items that can be sold to generate income. 

Lynx is building that technology and payment layer that turns NFT gaming earning into real funds for day-to-day living. With Lynx's digital payment and cash in/cash out wallet Play-to-Earn workers can cash out their NFT Token earnings into fiat cash or onto a Lynx prepaid card that allows them to buy groceries, pay their bills, and experience financial inclusion. This will be done through Lynx's Metaverse Financial Platform.

Remittance Experience is Enhanced through the Metaverse

Lynx intends to re-imagine the global remittance product through a Metaverse enabled money transfer experience: by creating digital meeting spaces that will allow a remitter to visit with and communicate with their loved ones while facilitating the transfer of money in a streamlined, entertaining, economical, and secure way.

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Keywords: product launch, blockchain, crypto, remittances
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies