London-based fintech Unlimint, previously known as Cardpay, has dived into the cryptocurrency space with the launch of GateFi, which will enable developers to connect traditional payment networks with blockchains.
The new crypto-focused solution will allow users to exchange fiat money for crypto and crypto for fiat money. In addition, the company is aiming at the growing Web3 hype as the new platform would offer an onboarding solution for Web3 applications.
The next generation of fiat onramp has arrived! ⚡@Unlimint launches its new #GateFi solution that securely bridges between Web2 #payment rails & #Web3#blockchain networks, enabling users across the globe to seamlessly exchange fiat money to #crypto. 🙌https://t.co/O7WSoykjGn
“Payment infrastructure has always been a core component of the money lego set for dapp
Dapp
A dapp, or decentralized application, is a computer application that runs on a distributed network. Dapps are most commonly associated with the blockchain networks that support them, such as Ethereum.Because dapps are decentralized, they do not exist under the purview of a centralized custodian or authority. The original Ethereum white paper effectively splits dapps into three types. This includes apps that manage money, apps where money is involved (but also requires another piece), and apps designated as the “other” category, which includes voting and governance systems.The type of app represents one in which a user may need to exchange ether as a way to settle a contract with another user. This uses the network’s distributed computer nodes as a way to facilitate the distribution of this data.Meanwhile, the second type of app melds money with information located outside the blockchain. Finally, in order to execute, ‘smart contracts’ are utilized that rely on so-called “oracles” to relay up-to-date information about the outside world. Understanding Dapps in Real World ApplicationsFor example, a standard application such as Twitter is run by a centralized authority. While these kinds of apps have thousands of users located around the globe, the backend of the app is controlled by a single entity. If there is a problem with the Tweets on Twitter, the company that runs the app can delete them. However, if Twitter was a dapp, all of the tweets that have been posted could not be deleted by the dapp’s creators. Instead, the poster may have the option to edit their posts, but each of the various versions of a post would remain there forever.
A dapp, or decentralized application, is a computer application that runs on a distributed network. Dapps are most commonly associated with the blockchain networks that support them, such as Ethereum.Because dapps are decentralized, they do not exist under the purview of a centralized custodian or authority. The original Ethereum white paper effectively splits dapps into three types. This includes apps that manage money, apps where money is involved (but also requires another piece), and apps designated as the “other” category, which includes voting and governance systems.The type of app represents one in which a user may need to exchange ether as a way to settle a contract with another user. This uses the network’s distributed computer nodes as a way to facilitate the distribution of this data.Meanwhile, the second type of app melds money with information located outside the blockchain. Finally, in order to execute, ‘smart contracts’ are utilized that rely on so-called “oracles” to relay up-to-date information about the outside world. Understanding Dapps in Real World ApplicationsFor example, a standard application such as Twitter is run by a centralized authority. While these kinds of apps have thousands of users located around the globe, the backend of the app is controlled by a single entity. If there is a problem with the Tweets on Twitter, the company that runs the app can delete them. However, if Twitter was a dapp, all of the tweets that have been posted could not be deleted by the dapp’s creators. Instead, the poster may have the option to edit their posts, but each of the various versions of a post would remain there forever. Read this Term developers to onboard real-world users to the world of Web3. At Unlimint, we see this new solution as the future,” said Jack Jia, the Head of GateFi at Unlimint.
“We will build with the builders, and unlock key innovations to reign in a new era of crypto adoption for Defi, NFT, and Gamefi. GateFi is set to break down the walls currently in place, allowing users complete payment freedom.”
Unilimint onboarded Jia in October to head its newly established crypto platform. He has been associated with the crypto industry since 2013, working for various companies, including Consensys.
Bringing Traditional Payments Expertise into Crypto
With its headquarters in London and presence in major financial hubs like Frankfurt, Singapore, São Paulo, Hong Kong and Mexico, Unlimint offers an all-in-one payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term solution that includes corporate accounts, acquiring, crypto and now BaaS.
The company’s crypto solution came a couple of months after introducing a banking-as-a-service (BaaS) product. The BaaS product offers more than 150 APIs to allow businesses to customize their payment offerings. Furthermore, it includes crypto-to-fiat conversion.
“By combining our experience as a traditional payment company, with longstanding trusted networks, to forward-thinking ideas and current trends around crypto, we are positive GateFi will deliver a unique experience within the decentralized and blockchain world, preparing our clients for tomorrow,” Jia added.
London-based fintech Unlimint, previously known as Cardpay, has dived into the cryptocurrency space with the launch of GateFi, which will enable developers to connect traditional payment networks with blockchains.
The new crypto-focused solution will allow users to exchange fiat money for crypto and crypto for fiat money. In addition, the company is aiming at the growing Web3 hype as the new platform would offer an onboarding solution for Web3 applications.
The next generation of fiat onramp has arrived! ⚡@Unlimint launches its new #GateFi solution that securely bridges between Web2 #payment rails & #Web3#blockchain networks, enabling users across the globe to seamlessly exchange fiat money to #crypto. 🙌https://t.co/O7WSoykjGn
“Payment infrastructure has always been a core component of the money lego set for dapp
Dapp
A dapp, or decentralized application, is a computer application that runs on a distributed network. Dapps are most commonly associated with the blockchain networks that support them, such as Ethereum.Because dapps are decentralized, they do not exist under the purview of a centralized custodian or authority. The original Ethereum white paper effectively splits dapps into three types. This includes apps that manage money, apps where money is involved (but also requires another piece), and apps designated as the “other” category, which includes voting and governance systems.The type of app represents one in which a user may need to exchange ether as a way to settle a contract with another user. This uses the network’s distributed computer nodes as a way to facilitate the distribution of this data.Meanwhile, the second type of app melds money with information located outside the blockchain. Finally, in order to execute, ‘smart contracts’ are utilized that rely on so-called “oracles” to relay up-to-date information about the outside world. Understanding Dapps in Real World ApplicationsFor example, a standard application such as Twitter is run by a centralized authority. While these kinds of apps have thousands of users located around the globe, the backend of the app is controlled by a single entity. If there is a problem with the Tweets on Twitter, the company that runs the app can delete them. However, if Twitter was a dapp, all of the tweets that have been posted could not be deleted by the dapp’s creators. Instead, the poster may have the option to edit their posts, but each of the various versions of a post would remain there forever.
A dapp, or decentralized application, is a computer application that runs on a distributed network. Dapps are most commonly associated with the blockchain networks that support them, such as Ethereum.Because dapps are decentralized, they do not exist under the purview of a centralized custodian or authority. The original Ethereum white paper effectively splits dapps into three types. This includes apps that manage money, apps where money is involved (but also requires another piece), and apps designated as the “other” category, which includes voting and governance systems.The type of app represents one in which a user may need to exchange ether as a way to settle a contract with another user. This uses the network’s distributed computer nodes as a way to facilitate the distribution of this data.Meanwhile, the second type of app melds money with information located outside the blockchain. Finally, in order to execute, ‘smart contracts’ are utilized that rely on so-called “oracles” to relay up-to-date information about the outside world. Understanding Dapps in Real World ApplicationsFor example, a standard application such as Twitter is run by a centralized authority. While these kinds of apps have thousands of users located around the globe, the backend of the app is controlled by a single entity. If there is a problem with the Tweets on Twitter, the company that runs the app can delete them. However, if Twitter was a dapp, all of the tweets that have been posted could not be deleted by the dapp’s creators. Instead, the poster may have the option to edit their posts, but each of the various versions of a post would remain there forever. Read this Term developers to onboard real-world users to the world of Web3. At Unlimint, we see this new solution as the future,” said Jack Jia, the Head of GateFi at Unlimint.
“We will build with the builders, and unlock key innovations to reign in a new era of crypto adoption for Defi, NFT, and Gamefi. GateFi is set to break down the walls currently in place, allowing users complete payment freedom.”
Unilimint onboarded Jia in October to head its newly established crypto platform. He has been associated with the crypto industry since 2013, working for various companies, including Consensys.
Bringing Traditional Payments Expertise into Crypto
With its headquarters in London and presence in major financial hubs like Frankfurt, Singapore, São Paulo, Hong Kong and Mexico, Unlimint offers an all-in-one payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term solution that includes corporate accounts, acquiring, crypto and now BaaS.
The company’s crypto solution came a couple of months after introducing a banking-as-a-service (BaaS) product. The BaaS product offers more than 150 APIs to allow businesses to customize their payment offerings. Furthermore, it includes crypto-to-fiat conversion.
“By combining our experience as a traditional payment company, with longstanding trusted networks, to forward-thinking ideas and current trends around crypto, we are positive GateFi will deliver a unique experience within the decentralized and blockchain world, preparing our clients for tomorrow,” Jia added.
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