Vaulta, also called the EOS Network in the past, is joining hands with the popular VirgoCX to stabilize stablecoins once again. The venture will mainly look after stablecoin-based cross-border transactions.
It’s the first objective after their merger and the launch of a Web3 Banking OS.
Who’s Vaulta?
Vaulta is an ecosystem that has been rebranded. The formerly EOS Network has joined hands with the Canada based crypto platform called VirgoCX. They are jointly launching VirgoPay. It would be a remittance network for all sorts of crypto transactions.
In their latest release, Crypto.news confirms that the venture will mainly use Vault’s blockchain as a transaction and settlement platform.
A lot of users are eager to know when they can start using the platform. At press time, the latest news is that people can start using the platform and transact through it from May.
But why would they use it, when they have platforms like Binomo and others in the circuit already?
Firstly. You are about to join a network, which is cost saving. At the same time, the usually lengthy and time-consuming international payments are going to be much swifter now. The use of stablecoins will enable it. So, it’s time you forget the traditional bankroll-based crypto transactions and pace up with stablecoins!
The CEO of Vault had to say about this:
“Cross-border payments are Way Slower and time-consuming. Moreover, you ned to blindly depend on the network of the traditional banks. But many banks don’t have their infrastructure available in remote areas. That’s where you can leverage Vault’s Network.”
How To Use the Platform?
Here are the steps to make a transaction over the platform:
- Send funds through VirgoPay
- Use Your Local Wallet for The Same
- You can choose to transact using any Fiat Currency
- Recipients will get the payments in their preferred currency as the transfer is done!
