According to reports, dtcpay has partnered strategically with Allinpay International, a Chinese provider of payment solutions, and PlatON, an open-source blockchain platform. The goal is to establish a private digital payment system. The partnership’s primary goal is to create intelligent point-of-sale (POS) terminals that support a variety of virtual currencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

dtcpay, formerly the Digital Treasures Center, has established a reputation for providing cutting-edge digital currency payment systems that let partners and merchants take payments in both traditional and digital currencies.

In addition to working with PlatON and Allinpay International, dtcpay has partnered with the verification platform Sumsub. Enhancing the security and dependability of digital currency transactions in key areas like as Europe, the UK, Singapore, Hong Kong, and Dubai is the aim of this collaboration.

In September, the company partnered with another Singapore-based business, PoS technology developer Jeripay, to integrate cryptocurrencies into Jeripay’s 8000 terminal network.

The collaborations take place in the backdrop of Singapore’s evolving cryptocurrency regulations, which aim to improve consumer safety.

The Monetary Authority of Singapore (MAS), which also grants payment institution licenses to prominent cryptocurrency firms like Ripple and Coinbase, is looking into central bank digital currencies (CBDCs).

A significant component of this evolving environment is initiative Orchid, a retail CBDC research initiative that has completed its pilot phase. Through a series of pilot experiments, the project brings together government agencies and big banks with the goal of creating digital currencies for specific purposes.

Although retail CBDCs have not yet gained widespread acceptability, the project analysis indicates that digital currencies that are not valued in Singapore dollars are becoming more and more popular locally. To keep up with these developments, MAS is looking into the concept of programmable or automated execution of digital currencies appropriate for predefined use cases.

Link to article – https://industrywired.com/dtcpay-to-introduce-seamless-crypto-payment-network/