Canadian digital currency platform Coinberry has introduced a new cryptocurrency-to-retail payment processing solution, in association with POS processor Cyclebit.
Through the alliance, users of virtual currencies can make real world POS transactions at accepting retailers.
Moreover, transactions will be instantly processed, with data to remain encrypted.
Cyclebit North America co-founder Sameer Pirani said: “When we decided to expand the Cyclebit solution to Canada, the first company we want to associate ourselves with was Coinberry.
“We wanted to work with like-minded people who are known for pushing boundaries and can get results with full transparency and trust of their users.
“We have a common vision of making Cryptocurrencies part of the economic cycle where individuals have a choice of what to currencies they chose to use to buy and spend on goods and services.”
The partnership is aimed at increasing the adoption of cryptocurrency adoption in Canada.
Coinberry co-founder and CEO Andrei Poliakov said: “We are always seeking innovative new ways to bring our customers trusted cryptocurrency and blockchain solutions that deliver exceptional value.
“From our recent government partnerships, to enterprise, and now via retail payment processors, we believe leveraging our trusted technology backbone will continue to accelerate growth in the industry.”
Last month, Coinberry said that it will support Bitcoin payments for the City of Richmond Hill.