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Pareteum Adds Blockchain Settlement for Cryptocurrency to Its Global Cloud Platform

By   /  December 29, 2017  /  No Comments

by Angela Guess

According to a recent press release, “Pareteum Corporation, the rapidly growing mobile Cloud Communications Platform company, today announced that it has completed development enabling it to add support of Blockchain technology to its billing and settlement services. This newest service capability enables Pareteum customers to participate in the transformational ‘Digital Economy Monetization to the Cloud’ and now accept and process Bitcoin, Ethereum, Litecoin, Airtokens and other forms of cryptocurrencies.”

The release goes on, “According to Coinschedule, $287 million of cryptocurrency transactions or 7.8% of ICOs involved payments in 2017. This evolution began in 2016, noted Coinschedule, within the mobile payment industry with more than 50% of mobile users making a mobile payment, and it has continued in 2017 with the market expanding to $60 billion in mobile payments. Perhaps the biggest disrupter may be the technology behind digital currency. Blockchain has been noted as the potential foundation for building a new generation of transactional applications that establish trust and transparency while streaming business processes, which is critical to advancing adoption of mobile payments among consumers and businesses.”

Read more at PR Newswire.

Photo credit: Pareteum

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