FDCTech, a US-based financial technology company that deals with FX technology and business solutions, has recently adopted Bitcoin as a payment method as noted in a press release announced today.
FDCTech, formerly known as Forex Development Corporation, offers trading technology solutions to users of the forex market.
The company considers it very beneficial to allow its internal(customers within the US) and external(non-US customers) clients the option of paying with Bitcoin.
According to the company, the latest development will allow its customers to enjoy “faster payment, decreased chargebacks and reduced transaction fees.”
The company also cited that customers outside the US will henceforth make cross-border payments with much ease.
This way, there is an alternative option to making payments with the local currency, requiring additional fees.
Interestingly, the benefits to be enjoyed due to the latest development are also extended to the company’s management as the company cited that it would save them the costs associated with managing accounts connected with multiple currencies.
The announcement quotes;
“As more and more clients adopt and accept cryptocurrency, the Company expects cash flow to benefit from faster settlement and significantly reduced credit risks since bitcoin payments require funds to be present in digital wallets at the time of the payment.”
Employing the recent initiative, the company hopes to extend its services to other developing countries where the COVID-19 pandemic has impacted the currency’s performance.
According to FDCTech, bitcoin is a digital currency that powers a global settlement. Therefore, it offers an attractive alternative to residents of such countries as they have the option not to hold currency balances that may be subject to adverse movements in local currencies.
The company promises a discount offer to every customer who chooses to pay with bitcoin for invoices worth over $10,000.
In recent times, the impressive performance of Bitcoin has seen people’s enthusiasm for cryptocurrencies on a massive surge.
People do not only affirm BTC as a good payment method; several prominent personalities have also declared the coin as a good store of value. The CEO of Etsy recently declared it an interesting store of value.
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Author: Caroline John