Singapore-based Ryde allows customers Bitcoin payments

Thursday 18 June 2020 14:27 CET | News

Carpooling app Ryde has announced that it will let customers pay for rides using Bitcoin

The app’s users will be able to store and convert Bitcoin to the company’s RydeCoin with no transaction costs. Customers can top up a maximum of USD 700 in Bitcoin at a time to pay for rides. Ryde incorporated cryptocurrency as a payment method natively into its own app by allowing the storage and use of Bitcoin through its built-in digital wallet RydePay. 

The company began working on integrating crypto features to its app in 2019, when 60% of Singaporeans still preferred cash transactions. The COVID-19 pandemic suddenly made cashless transactions more desirable, and the company ensued development, according to Ryde staff. 

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Keywords: Ryde, Bitcoin, Singapore, carpooling, ridesharing, app, RydeCoin digital wallet, RydePay, crypto, cash transactions, COVID-19, pandemic, cashless transactions
Categories: DeFi & Crypto & Web3
Countries: Singapore
This article is part of category

DeFi & Crypto & Web3