Partnership will allow for direct and efficient financial transactions in ZenCash
New York, New York — October 11, 2017 — ZenCash, the privacy coin for borderless, decentralized communications and transactions, has today announced that it has established a strategic partnership with Welto, an application that allows users to directly pay bills through their cryptocurrency wallets. The partnership will allow Welto to support ZenCash payments through an integration of CoinPayments, a gateway system that eliminates the need to use an exchange to convert cryptocurrency to fiat currency.
ZenCash Co-Founder Rob Viglione said: “We are incredibly excited that ZenCash will be integrated into the Welto platform. As the first instance of ZenCash being used as a direct means of payment, without the need for conversion into another cryptocurrency or fiat currency, we believe that this is a critical step forward in making Zen more widely and easily accessible to a broader user base. We feel that ZenCash’s addition into a consumer platform like will showcase how it can improve the security and privacy of everyday transactions without sacrificing speed. We are confident that this integration will incentivize more users to adopt ZenCash not only as a store of value, but also as a means of payment.”
The partnership between ZenCash and Welto will enable users to directly pay their bills in ZenCash, facilitating payments within 24 to 48 hours through the incorporation of their Zen wallets. Users can also track the status of their ZenCash payment until the confirmation of its final receipt. Through the Welto platform, ZenCash users have the ability to monitor their spending and track the exchange rate of ZenCash to U.S. dollars, which is automatically updated every 15 minutes. The platform also allows users to schedule bill payment in ZenCash in advance and offers a finance manager system that tracks outgoing expenses in ZenCash.
Welto CEO Alex Pashkevych said: “We are proud to incorporate ZenCash into the Welto platform. From its launch in May, we have been impressed by the Zen team’s unique focus and technical sophistication that they applied to develop a cryptocurrency with enhanced privacy and security features. We feel that ZenCash is the perfect fit to establish a use case of how cryptocurrencies can securely and efficiently be used in commonplace financial transactions such as paying bills.”
In addition to ZenCash, the Welto platform also supports payments in bitcoin through an integration with U.S. bitcoin exchange Coinbase. Through its incorporation of CoinPayments, Welto also facilitates altcoin payments in Ethereum, Ethereum Classic, and Crown. On the Welto platform, users can track the current balances of cryptocurrency accounts in one location. Welto is available for purchase through the iTunes and Google Play stores, and is also integrated into Amazon Echo devices.
For more information about ZenCash, the whitepaper is available at: https://zensystem.io/assets/Zen%20White%20Paper.pdf.
ZenCash is the first and most important initial product in the Zen portfolio. Zen, an evolution of the Zclassic codebase, launched its blockchain on May 30, 2017. Zen provides privacy and networking infrastructure for secure and anonymous collaboration.
For the first time ever in the U.S., Welto provides the ability to pay bills, such as utility or Internet, using cryptocurrency. Welto launched in August 2017 and has established partnerships with popular transaction services like Coinbase and CoinPayments. Its built-in money manager functionality allows users to easily manage their cryptocurrency in one place. Read more about Welto at: http://welto.io.