You can now pay your bills, taxes and salaries in crypto
As cryptocurrencies are hurtling towards the mass adoption, a Swiss-based software company Aave is trying to take “crypto-convenience” further to the next level.
With the new application announced by the company, Aave Pay, cryptocurrency holders are able to perform all of the day-to-day tasks and obligations directly using their cryptocurrencies, including:
- Paying bills,
- Employee salaries,
- Income taxes,
- Other commercial and business expenses.
According to the company’s statement, Aave Pay works everywhere in the world, where bank transfers are accepted. In order to conduct a transaction, users have to visit Aave Pay, indicate which cryptocurrency they would like to use, the amount of fiat currency they want to transfer or pay with, and the bank account of the payee. After this information is provided, Aave Pay calculates the fee, indicates the final cost to the user, and upon approval sends the payment directly to the payee’s bank account, converting cryptocurrency on the go. There’s a number of fiat currencies that are already supported by the platform, including U.S. dollar (USD), Euro (EUR), Swiss franc (CHF), pound sterling (GBP), Australian dollar (AUD), and Indian rupee (INR).
“We are taking the concept of holding cryptocurrencies further, in a way that has not been done before, breaking the paradigm that cryptocurrencies are only assets people invest in and cannot be used as traditional currencies,”
said Jordan Lazaro Gustave, COO of Aave.
According to Stani Kulechov, CEO and founder of Aave, this new application “eliminates the obstacles of using crypto in our everyday lives,” building “a bridge for crypto to cross over into mainstream use.”
Currently, the platform supports twelve coins, which a user can pick for spending: Bitcoin, Ethereum, Cardano, Ripple, Monero, Litecoin, Zcash, Dash, Lumen, Bitcoin Cash, DAI and LEND.