ZEBEDEE, a payments processor, has announced an overhaul of how users can move money across the world.
The upgraded feature for borderless transactions showcases “the power and potential of global, friction-free and currency-agnostic payments and represents a significant improvement and simplification of how anyone can use Bitcoin to move money online.”
ZEBEDEE builds its tech “on the open Bitcoin Lightning Network, which means users can send and receive funds from any other Lightning wallet or service.”
With today’s announcement, ZEBEDEE accounts can now “connect directly to platforms of select launch partners around the world, headed by Pouch.ph (Philippines) and Bipa (Brazil). It works similarly to open-banking standards where users connect a bank account once and can seamlessly move money to and from the account, but is even simpler to use and much more flexible.”
Combined with the existing features of the ZEBEDEE app, “which lets users play games, browse the web or listen to podcasts to earn Bitcoin for free, this has become a powerful proposition for anyone who wants to engage in the cutting edge of digital finance innovation.”
For example, a user in Brazil “can earn Bitcoin playing a game like Solitaire, then instantly transfer that money to Bipa and exchange it for Brazilian reais.”
Using similar functionality for other regions, “a user in the US can lend a friend in the Philippines money for a cup of coffee.” They can easily transfer funds “to their friend on the other side of the world, who can then immediately spend these funds to pay in Philippine pesos, through Pouch.ph.”
While the currency that powers this instant movement of money around the world is Bitcoin, the solution introduced by ZEBEDEE and its partners aims “to be completely currency-agnostic, which is why the strategic partnerships in key markets around the world are just as important as the underlying payments technology.”
Over time, ZEBEDEE plans “to significantly expand its partner network to eventually cover all countries and currencies across the world.”
Due to how simple it is to connect to these partners from the ZEBEDEE app, the solution also requires absolutely “no prior knowledge of cryptocurrency or blockchain.”
It is described as being “the simplest, fastest and cheapest way to send even very tiny amounts of money anywhere in the world.”
Whether it’s hundreds of dollars or a fraction of a cent, “the transaction will be instant and cost no more than a fraction of a cent, while maintaining the highest level of safety thanks to ZEBEDEE’s unshakable compliance and security standards.”
While this type of money flow was already technically possible on the Bitcoin Lightning Network, it could be hard “for non-technical users to use and represented a barrier to entry for broad adoption.”
With the new upgrade, ZEBEDEE has “removed that barrier, making the most powerful and flexible payments network in the world easily accessible to anyone, and set a new standard for companies seeking to implement an open and interoperable way to move money across platforms and countries.”