European Money Transfer Company Enters the Cryptocurrency Sector

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European Money Transfer Company Enters the Cryptocurrency Sector

Making cryptocurrency trading accessible to mainstream investors is a challenge similar to achieving widespread circulation, and one of the factors in this challenge involves the ability to easily exchange digital assets to fiat currency. Tempo Money Transfer, an established financial services company based in Paris, is working on a solution that will streamline cryptocurrency trading with a focus on fast and affordable exchange transactions.

Investment by Tempo Money Transfer

Tempo Money Transfer is creating a cryptocurrency exchange platform that will take advantage of its 300 brick-and-mortar locations in Europe; these physical assets will be complemented with a mobile app as well as a debit card linked to a bank account. Tempo will offer customers the ability to purchase a handful of digital currencies through the mobile app or in person at its network of money transfer locations. When it comes time to exchange digital tokens into fiat currency, Tempo customers will be able to use their debit cards or visit their nearest office.

To manage its cryptocurrency payments and exchange network, Tempo has selected the Stellar blockchain. It should be noted that Stellar is a blockchain project that competes against major digital currencies such as Bitcoin, Ethereum and Ripple. This is a significant development for Stellar, a digital payments network that has quickly gained prominence thanks to its ability to connect to multiple blockchains.

When Tempo starts its digital currency operations later this year, customers will be able to create a cryptocurrency wallet to acquire and hold the following tokens:

  • Bitcoin
  • Stellar
  • Mobius
  • Tempo EURT

The EURT digital currency is Tempo’s very own token pegged to the value of the euro. This proprietary and centralized token is intended to make money transfers and international remittances easy and affordable. The debit card can be used to make retail payments. Tempo customers who intend to invest in cryptocurrencies such as Bitcoin will be able to open trading accounts at the major exchanges without having to worry about paying high exchange fees at specialty ATMs. Furthermore, being able to receive cryptocurrency on the Tempo mobile app is an ideal feature for customers who expect remittances from relatives abroad.

Prospective investors should take note of the Stellar network integration selected by Tempo. The Stellar token, which trades under the symbol XLM, currently stands at $0.25 and has previously reached a high of $0.35 over the last three months. As a financial technology solution, Stellar has attracted the interest of major tech firms such as IBM.

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