Evvio Inc., a Fintech firm focused on next-gen digital commerce, has announced its collaboration with Vite Labs, a “zero-fee” fast blockchain company.
Evvio and Vite’s collaboration is “grounded in a shared vision that next generation e-commerce will eliminate the need for credit cards, bank accounts and third party processors.”
Both companies envisage significantly expanded commerce opportunities, “faster and smoother transactions without fees, and far greater inclusiveness that only multi-blockchain solutions can bring.”
Adrian Jones, Co-Founder of Evvio, stated:
“Evvio is delighted to collaborate with Vite in our respective pursuits to accelerate the shift to ecommerce in a multi-blockchain, interconnected marketplace world where, for instance, one can earn in a metaverse and spend on daily real-life services, or vice versa. Fluid Commerce together with technology such as Vite’s fast zero-fee blockchain make the potential of Web3 commerce a reality.”
Jones added:
“Vite’s vision for the future of multi-chain transactions, along with its performance advantages, unique insights and the caliber of its leadership team made it a natural collaborator. We are excited to work together and see both companies continue to build market prominence.”
Vite was created with a mission “to ensure that Web3 apps are free and fast like their Web2 counterparts.”
Richard Yan, Co-Founder and COO of Vite, remarked:
“We were impressed Evvio was able to secure key patents that underpin Fluid Commerce, which allow for zero-fee, one-tap transactions spanning both the fiat and crypto worlds. We share the same vision for zero-fee fast and fluid Web3 transactions, with the opportunity for significant market expansion without the need for credit cards, bank accounts or other third-party intervention.”
Beyond eliminating the need for third-party involvement in transaction processing, Fluid Commerce creates “a safe environment for online transactions by negating the security concerns of entering credit card details.”
By virtue of removing the requirement for bank accounts to participate in ecommerce transactions, the technology “facilitates the potential for significant market expansion since the unbanked and underbanked (estimated by The Federal Reserve to be more than 60 million adults in the U.S. alone) can also be part of the ecosystem.”
Lastly, Fluid Commerce “increases ecommerce conversion rates because cumbersome checkout steps are eliminated, which are a direct cause of abandonment or non-completion of digital transactions.”
