Winklevoss-backed Flexa flexes its muscle in Canada
- Flexa partnered with Coinsquare to expand the cryptocurrency wallet SPEDN to Canada.
- SPEDN is open to Canadians in both IOS and Android, expects around 7500 users by September.
Payment solution Flexa has announced its Canadian expansion in an official blog post. The firm will be going international with the new market launch and is backed by the Winklevoss-owned cryptocurrency exchange Gemini. SPEDN, which functions as a pipeline for commercial transactions, typically processes regular purchases in cryptos like Bitcoin, Etherum or native token - Flexacoin. Currently, SPEDN is available to Canadians on Android and iOS. According to the post, 7500 Canadian retailers will be on-boarded by September.
According to Flexa, Canadian and US users can use SPEDN in either of the countries without having to pay conversion fees as all the funds are insured and custodied by Gemini. Tyler Spalding, the co-founder of Flexa, told CoinDesk that the firm is planning to launch in a few more countries by the end of the year. Additional coins are expected to be on-boarded as well. Flexa partnered with Canadian crypto exchange Coinsquare for the launch. He said:
"Regarding the market, we anticipate considerable growth of ‘spendable cryptocurrencies’ like stable coins and loyalty coins over the next year that will drive consumer demand for spending. We are working with multiple projects and intend to launch many new coins on the network shortly. For now, we’ve been really impressed with the current communities and their repeated use of the SPEDN app, particularly litecoin.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
