Financial technology software solutions company aXpire announced the upcoming launch of PayBX, its new cryptocurrency payment application for iOS and Android.

The application is a custodial wallet that allows its users to use their existing bank-issued debit cards to consume cryptocurrency, while also providing cryptocurrency cashing, exchange between supported cryptocurrencies, and earning from selected crypto assets Interest and the function of sending gratuitous payments to friends, family and businesses who also use the PayBX application.

What makes PayBX different?

PayBX aims to use different methods for mainstream encrypted payments, avoiding the need for another card in the user’s wallet. No PayBX debit card. Instead, users can connect their existing bank-issued debit and credit cards to the app. Then, every time the card is used for a transaction, PayBX will recognize it-if enabled-will sell the same amount of cryptocurrency and deposit it in the user’s bank to cover the transaction cost.

As a custodial wallet, PayBX users do not hold the keys to their wallets, but this means that crypto novices do not need to know the details of web3 and pay expensive fees unless they are running on layer 2 or a less adopted layer Blockchain-either option still requires extensive knowledge of the crypto industry.

“We will not pretend to disrupt this industry. Our goal is to provide a reliable and easy-to-use application to simplify crypto payments, improve users’ ability to enter crypto, and earn interest on their crypto assets by putting it into use , And pave the way for the wider adoption of this emerging technology of cryptocurrency.”
– AXpire team

PayBX core functions

The main functions of PayBX are as follows, including the first version of the application and the core functions of the public release.

  • Use cryptocurrency anywhere – PayBX users can use regular debit and credit cards issued by banks to use their cryptocurrency online and in person anywhere. Merchants do not need to join PayBX or other encrypted merchant infrastructure to accept payments, and they don’t even need to understand encryption at all. The merchant receives FIAT as usual, and you can pay with cryptocurrency.
  • Utilize multiple cryptocurrencies- PayBX supports a variety of cryptocurrencies, including BTC, ETH, and stable currencies such as DAI, USDC, BUSD and USDT. PayBX also supports a variety of DeFi tokens, such as UNI, LINK, COMP, YFI and AVAX.
  • Use FIAT to buy and sell cryptocurrencies – PayBX users can use legal currencies such as EUR, GBP, CHF, DKK, PLN, and more options to purchase cryptocurrencies directly in the app using debit/credit cards and ACH payments. Users can also sell cryptocurrency and withdraw FIAT to their bank account. All of these are provided at a competitive cost, providing a simple and reliable entry and exit for encryption.
  • Exchange between cryptocurrencies – PayBX users can also use the cryptocurrency-to-cryptocurrency exchange function to achieve seamless and instant exchange of one type of encrypted asset with another at the lowest cost. Users can exchange from BTC to LINK, from ETH to AVAX, and so on. Any assets supported by the application can be exchanged between them.
  • Earn interest on crypto assets – PayBX integrates with major CeFi participants to provide its users with interest on their encrypted assets, and asset security is supported by secured bonds from aXpire partners. Users who hold BTC, ETH and major stablecoins can earn competitive APY from their assets, pay directly in their wallets, and increase their balances.
  • Stake AXPR to get in-app rights – AXPR is aXpire’s native token, which can be pledged in the PayBX application to provide such as increased interest rates (APY), discounts on cryptocurrency purchases and swap fees, and increase the chances of winning for all users in the weekly lottery within the PayBX application And other benefits. application.

Functional roadmap

After the first release of PayBX, aXpire plans to improve the features provided in the app. Check out some future planned upgrades below:

  • DeFi as a service – The plan is to finally allow PayBX users to use the leading decentralized finance (DeFi) protocol to earn interest on their holdings. This will be provided as a “custodial service” in which users do not need to deal with the complexity of DeFi, but instead allow PayBX to deposit asset stablecoins linked to the U.S. dollar at an interest rate of up to 15-18% on their behalf. Users only need a few taps in the app to put their assets into use in DeFi. If the assets are locked within a set time, the fee is zero.
  • Merchant infrastructure- Merchants will later be able to use PayBX as their encrypted payment acceptance infrastructure to easily accept online and point-of-sale payments in cryptocurrencies, which are either a) stored in cryptocurrency or b) converted to legal currency and deposited in merchants Bank account.
  • Web application- PayBX will eventually also be provided through a web application, which can be accessed on any computer using mainstream browsers (such as Chrome, Brave, Safari, Edge, Opera and more built-in similar frameworks).
  • Over-the-counter trading interface – As a company, aXpire interacts with major financial institutions and wealthy individuals. With the release of Web application functions, the plan is to build an OTC gateway and interface. This will allow institutions, companies and wealthy individuals to purchase cryptocurrencies and earn interest on their holdings through competitive fees and minimal slippage relative to the transaction value provided by OTC partners.


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