The Ryde Singapore-based carpooling (ride sharing) application has announced the launch of its cryptocurrency wallet, which will allow bitcoin payments for its services.
Carpooling (Riding) is the sharing of private cars through online travel search services.
On June 17, Ryde announced that it was the first such application to allow payments in bitcoins. Customers will be able to use bitcoins to pay for trips from June 22.
The RydePay wallet will allow users to convert bitcoins into Ryde coins to replenish their balance and pay for their trips. The exchange will occur at the market rate and without commission, and Ryde cryptocurrencies will be tied to the Singapore dollar (SGD).
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In this case, there will be a limit on deposits in the wallet - no more than 999 SGD ($ 715). Besides, the company plans to expand the range of cryptocurrencies used in the future.
Ryde founder Terence Zaw said: “COVID-19 has accelerated the transition to digital payments. Consumers are used to paying for such services in bitcoins, and we assume that this will become a catalyst for the mass introduction of cryptocurrencies in Singapore.”
We previously said that a well-known real estate company in Turkey successfully sells its objects for bitcoins.