Fantom develops a new crypto payment infrastructure not available in the United States by CoinEdition

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Fantom has launched a closed beta version of a new crypto payment framework. The infrastructure is designed to bring more flexibility to the crypto payments industry. The project will not be available to US citizens due to regulatory constraints.

In a conversation on Twitter, Fantom blockchain co-founder Andre Cronje revealed that he is currently working on a new crypto payment infrastructure project. Cronje also shared that a closed beta version of the product has launched.

Notably, the Fantom founder revealed the update after crypto enthusiast Michael Egorov complained on Twitter that his bank accounts with Revolut, a British bank, had been closed for involvement in cryptocurrencies.

“They closed my personal and business accounts once they got information from me showing the source of the funds is crypto,” Egorov tweeted, “they are not the future,” he said. concluded.

Additionally, Cronje said that the cryptographic infrastructure being developed would not be available to US citizens due to regulatory constraints in the country. Asked about the project license and the possibility of not having know-your-customer (KYC) procedures, Cronje replied that it would be a standard banking license. “We cannot avoid KYC,” he added.

This new development is expected to bring more flexibility to the crypto payments industry, making it easier to transact with digital assets without worrying about the tedious processes involved in traditional financial systems.

Although the Fantom founder didn’t provide many details on the project’s planned launch date, his tweet sparked interest from the crypto community as many crypto enthusiasts sought to be added to the closed beta. .

Fantom is a high-speed transaction-focused blockchain platform designed to enable decentralized applications (dApps) and digital assets to operate efficiently and securely. Its utility token, FTM, ranks among the top cryptos with over $1.2 billion in market share.

The post Fantom Develops New Crypto Payments Infrastructure Not Available in the US appeared first on Coin Edition.

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