Nimiq, the blockchain ecosystem aiming to simplify cryptocurrency for global adoption, has marked a significant milestone in its journey towards becoming the world’s leading digital asset for payments with the introduction of Nimiq Pay. The launch will take place during Token2049 Week in Dubai, introducing an intuitive self-custodial crypto payments app designed for both crypto enthusiasts and mainstream users.
Nimiq Pay promises to redefine crypto payments by supporting transactions across multiple networks, bridging the gap between the crypto and traditional finance worlds. One of its standout features is its integration of cross-chain atomic swaps to the BTC Lightning Network. This groundbreaking addition enables Nimiq Pay users to make payments at over 15,000 global locations already accepting BTC LN payments, a feature slated for release in the upcoming version of the app currently in testing.
Setting New Standards for Crypto Payments
To further expand its reach, Nimiq has formed strategic partnerships with Bluecode, a European payment scheme boasting over 20,000 global payment locations. Additionally, the company has entered into undisclosed partnerships with traditional payment providers, aiming to significantly broaden Nimiq Pay’s solution footprint.
Established in 2017, Nimiq’s vision is to make its native payment coin, NIM, the world’s most prevalent cryptocurrency for everyday transactions, both online and in physical stores. While initially focusing on platform-independent browser apps, Nimiq has now shifted its attention to smartphone-native applications, leveraging the functionalities of mobile devices like NFC and push notifications.
Ensuring maximum security, Nimiq Pay will be available on both Apple’s App Store and Google Play Store, adhering to strict security protocols. The app employs a 12-word seed phrase coupled with smartphone technologies like fingerprint scanning and facial recognition to safeguard users’ assets against unauthorized access. The initial version of Nimiq Pay will facilitate transactions at over 2,400 NAKA point-of-sale terminals worldwide. A built-in crypto payments acceptance map will assist users in locating nearby stores accepting Nimiq payments.
Max Burger, Ecosystem Developer of Nimiq, commented, “Through enabling BTC Lightning network payments with NIM in a self-custodial way and constantly integrating new payment partners into our expanding network of acceptance locations, Nimiq is poised to become the world’s premier crypto payment ecosystem.”
Empowering Businesses to Embrace Crypto Payments
In addition to consumer support, Nimiq Pay offers businesses an innovative platform to explore the potential of crypto payments. Its industry-first reward points scheme allows sponsors to launch crypto rewards programs, enabling businesses to target specific regions or merchant brands with adoption campaigns. These campaigns incentivize consumers to earn loyalty points by making purchases with NIM, engaging in challenges, and familiarizing themselves with Nimiq’s ecosystem.
Nimiq’s ambitious goal for Nimiq Pay is to surpass Bitcoin in terms of physical acceptance locations by the end of next year. Beyond that, the company aims to establish a global network of payment acceptance locations, exceeding Bitcoin’s acceptance points twofold within the next three years. Distinguishing itself in the competitive cryptocurrency landscape, Nimiq prioritizes accessibility and real-world utility, underpinned by its advanced technology.
As the first installation-free blockchain payment platform, Nimiq is democratizing access to cryptocurrency without compromising on its foundational cypherpunk ideals. With a growing ecosystem of acceptance locations and evolving strategic partnerships, Nimiq is at the forefront of driving cryptocurrency adoption and utilization, solidifying its position as a key player in the global push toward mainstream crypto acceptance.