Fintech company Oveit has partnered with Swiss start-up Utrust, which offers cryptocurrency payment solutions.
The aim of the partnership is to integrate a new payment method into the entertainment market to allow event organisers to accept and use cryptocurrency payments more easily.
Mihai Dragan, chief operating officer of Oveit, said: “We strive to help the events and entertainment industries evolve and change their operations using digital technology. The cryptocurrency market still has a lot of potential and opportunities ready to be unlocked by businesses that want to adapt their strategy and think outside the traditional standards.
“Especially for companies in this segment, the possibilities are unlimited. The partnership with Utrust enhances the business opportunities for all the industry players, allowing them to receive instant payments from up to one billion customers worldwide. Thus, even international customers can access the event without worrying about local currencies and high exchange rates.”
Oveit’s solution enables a company to create a merchant account on the platform, with every payment going straight into their account. The sellers are also able to list prices in a flat currency. With the addition of the Utrust integration, the amount is automatically converted to cryptocurrency.
Sanja Kon, chief executive of Utrust, said: “Utrust will always seek to empower blockchain technology’s creative and advantageous use cases. Companies like Oveit are making the kinds of products we need: the ones that change peoples – lives for the better. We are delighted to provide the fast, seamless, on-chain payments that will help them achieve their goals.”