• Kyrrex’ new payment gateway makes crypto asset transactions as seamless as regular payments
• It supports all the major crypto currencies – from Bitcoin to USDT
• The solution pays special attention to secure clients from the volatility of cryptocurrencies

This August, Kyrrex – the famous Malta-based cryptocurrency company with Ukrainian founders – announced another decisive step in bridging the gap between traditional commerce and the cryptocurrency market. Kyrrex Pay is the new payment gateway designed to enhance the accessibility and usability of digital assets by simplifying digital asset transactions for businesses.

Helping Businesses Adopt Crypto Without Worries

Simply put, Kyrrex Pay is a service that helps businesses accept cryptocurrency as payment for their products and services. It allows companies to tap into new markets, increase their earnings, and easily manage crypto transactions by using auto-conversion without worrying about price fluctuations.

‘Auto-conversion allows businesses to automatically convert received cryptocurrency into stable currencies, like USDT, immediately after a transaction. This minimizes the risk of losing money if the value of the cryptocurrency drops shortly after the payment is made,’ Kyrrex Group’s CEO Kevin Plumpton explains.

Overall, the solution is engineered to be user-friendly, with minimal technical expertise required, for businesses of all sizes to be able to benefit from it. Kyrrex Pay supports major cryptocurrencies including Bitcoin, Ethereum, and Tether.

Accessibility and Security

The solution includes plugins and APIs, accompanied by comprehensive guidelines, allowing for seamless and streamlined implementation. The transactions, especially with USDT, are processed almost instantly, and Bitcoin and Ethereum transfers are completed within minutes, depending on network conditions. And Kyrrex Pay’s transaction fee is 1%, making it a cost-effective alternative to many popular payment processors.

‘Kyrrex Pay offers a secure and reliable platform for processing crypto transactions, giving users confidence in their payments. It uses cutting-edge technology and robust security measures to minimize risks and ensure smooth transactions. This means that all businesses can focus on growth and profitability while Kyrrex Pay handles the complexities of crypto payments,’ Mr Plumpton tells ITKeyMedia.

According to him, Kyrrex Pay is available to businesses globally, but its usage may be restricted in regions with strict regulations or bans on cryptocurrency transactions (including Russia and Belarus). Kyrrex works to ensure compliance with local laws wherever it operates, the CEO assures.

Challenges and Expectations

‘Some challenges in launching Kyrrex Pay involved regulatory hurdles, the biggest being navigating evolving cryptocurrency regulations, which vary greatly between regions. Kyrrex had to invest in ensuring compliance while staying flexible to adapt to changing laws. Balancing these legal demands with creating a secure, user-friendly platform required careful planning and collaboration with experts,’ Mr Plumpton recalls.

Now, the company expects Kyrrex Pay’s rapid adoption, particularly in tech-savvy industries like e-commerce, digital services, and fintech. Indeed, the service is likely to gain traction quickly among businesses looking for innovative payment solutions, as it addresses the growing demand for secure and efficient cryptocurrency transactions. Legislations with a strong interest in crypto will most probably adopt the service faster due to a higher acceptance of digital currencies.