Bitcoin's Path to Mainstream Adoption: How Wexo is Bridging the Gap

Discover how Wexo is bridging the gap between crypto and traditional finance, paving the way for a unified global payment system.

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Bitcoin’s Path to Mainstream Adoption: How Wexo is Bridging the Gap

As Bitcoin’s market value hovers above $1 trillion, its potential as a digital asset is undeniable. However, mainstream adoption as a widely accepted payment method remains a significant challenge. According to Federal Reserve reports, only 1% of Americans used crypto for purchases in 2023, and less than 2% of BTC transactions in 2023 were used for commerce.

To address this limited acceptance, crypto projects are working to bridge the gap between crypto and traditional finance (TradFi). One such project is Wexo, a crypto platform dedicated to connecting businesses and individuals, offering a suite of financial services for efficient digital asset management.

Empowering Businesses and Individuals

Wexo has developed an application tailored for businesses to handle transactions via the Bitcoin Lightning Network, a technology that facilitates instant and low-cost BTC payments. The app features wPOS terminals, allowing businesses to accept crypto payments via a smartphone app and eliminating the need for additional on-site devices.

Wexo’s innovative payment solutions

In addition to its business-focused features, Wexo simplifies digital asset management with features like Crypto Standing Instructions, allowing users to schedule recurring payments and streamline regular transactions. This feature supports fixed-cost crypto payments, bulk payments to multiple recipients, and transaction notifications.

A Global Payment System

Wexo’s wallet service supports SEPA for cross-border transactions within Europe, enabling users to deposit and withdraw fiat seamlessly. The Euro Wallet facilitates easy crypto/euro exchanges in both directions.

Wexo’s Euro Wallet simplifies cross-border transactions

A standout feature of Wexo is its global map, helping users locate businesses that accept BTC. Businesses using app-based virtual terminals can add themselves to this map, attracting new customers.

Bitcoin Cashback and Beyond

After reaching milestones in integrating digital assets with TradFi, Wexo is preparing the infrastructure for various loyalty programs, such as Bitcoin Cashback. The program will allow entrepreneurs to provide discounts in the form of cashback to their regular paying customers’ Bitcoin Lightning wallets.

Wexo will also launch a global gift card program that will allow users to spend their crypto at major retailers such as McDonald’s, Amazon, Apple, and IKEA. Users will be able to use crypto for their daily shopping with these payment gift cards.

Educating the Next Generation

The platform plans to offer a Wexo Kids app that aims to educate the younger generation about crypto and financial habits. The company’s roadmap also includes launching liquidity pools and reaching 10,000 acceptance points by 2025. Long-term goals involve reaching 50 million active users by 2028.

A Unified Global Payment System

In summary, integrating crypto into everyday transactions is paving the way for digital assets to become as common as traditional finance models. Projects like Wexo are driving this vision forward, overcoming adoption barriers and bringing us closer to a globally connected economy.