China-based mobile payment terminals developer Dspread Technology has formed a strategic alliance with cryptocurreny solutions firm Cyclebit to introduce a mobile point-of-sale (mPOS) terminal for crypto payments.

The new mPOS terminals will accept both standard card payments as well as cryptocurrency transactions.

The alliance will enable connection of all existing Dspread mPOS terminals to the Cyclebit network for facilitating the acceptance of crypto payments.

Dspread CEO Dongyang Zhang said: “We are very excited about the upcoming alliance and we look forward to support digital currencies in this new era of technologies. We always seek to enhance our solutions to provide the best seamless experience.

“This is a great opportunity for us to do something truly big and global, especially these days when cryptocurrency payments are becoming more and more popular.”

The commercial launch of the new payment systems is set for near future. Initially, they will be available for Cyclebit users across 200,000 retail locations, with plans for further expansion in Korea, America, Southeast Asia and Europe.

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Cyclebit CEO Daniel Bessmert said: “In the immediate future, we will remove barriers of traditional payments in the retail chain and make crypto payments a high % of the ‘share of checkout’.

“This strategic partnership will enhance customers’ ability to pay with digital currencies and provide world access to new means of payments, offered by progressive technologies such as blockchain.”