Foreign exchange (FX) brokerage solutions provider Leverate is rolling out a cryptocurrency solution aimed at promoting crypto adoption among brokers and businesses.
Reports in Finance Magnates on Tuesday (Oct. 30) said Leverate announced the launch of Terrexa Pay, providing a cryptocurrency payments gateway platform that enables users to streamline their transactions made with bitcoin and other cryptocurrencies. Designed for high-risk industries like FX and gaming, the solution offers a plug-in or widget app that can integrate into brokerage websites to support cryptocurrency as a payment option.
The launch of Terrexa Pay follows the introduction of the Terrexa brand by Leverate to allow users to exchange fiat currency for cryptocurrency. The addition of the payment gateway solution targets friction in brokers' clearance processes and automatically exchanges clients' fiat currencies to cryptocurrencies.
A broker sends an extended public key to Terrexa Pay, and the solution assigns a unique address for the broker's clients, the company explained. The platform streamlines the identification of the payment source and offers real-time insight for brokers into transactions in progress.
"Many brokers are struggling with insufficient payment infrastructure in their countries, or with other restrictions on old-type payment methods," said Leverate Director of Crypto Oren Mizrachi in a statement. "When we imagined Terrexa Pay, we thought of a comprehensive payment solution that will streamline and simplify the way our clients process transactions from multiple sources, from credit cards to bank transfers to cryptocurrency payments. We believe that safe and stable payment solutions are the next step in the cryptocurrency evolution."