NEM has entered into a partnership with a provider of PoS software for businesses to accept payments in cryptocurrencies, Cyclebit. Cyclebit is a leading global provider of these services, and it has been working with NEM Ventures and the crypto XEM since 2018.
NEM Ventures, which is a subsidiary of NEM blockchain tech, is set to launch Catapult technology in 2020. The goal of these two companies is to grow the Catapult technology throughout North America. Since Cyclebit is already popular around the world and is well-established, it can assist NEM Ventures in accomplishing its goal with crypto.
Cyclebit has been working with retailers globally to install Points of Sale in various regions to allow consumers to make payment with digital assets. The company provides facilitation for millions of transactions on a monthly basis.
Cyclebit Wallet will be launched in 2020, which is a partnership with Tangem. It will be used for fiat and crypto payments around the world and provide security for loading digital assets to credit cards. Cyclebit hopes to expand its reach into new markets in Italy, Japan, Germany and other places.