Having earlier announced its biggest partnership with oBike that saw the company acquiring over 5 million users in South East Asia, SpherePay has upped its game by venturing into the cryptocurrency arena. Within a week of its previous funding round, SpherePay has secured yet another strategic investment from OCN, a sharing economy blockchain project initiated by the founding members of Obike. OCN is also the only provider in the shared economy of blockchain project in South East Asia for cryptocurrency transactions. The investment amount was not disclosed. According to SpherePay's development plan, the company will officially open the encrypted currency wallet and QR code payment function in March 2018. This new development will see SpherePay as the only mobile payment platform in the world that enables the virtual currencies to be transacted in real life. This means that users will be able to spend their cryptocurrencies to purchase everyday items via the SpherePay app. The app e-wallet will support various cryptocurrencies such as Bitcoin, ETH, SAY, OCN and others. Users will now have more mode of payment options from credit card, debit card, SpherePay's Advanced Credit to cryptocurrencies, all stored in one e-wallet. "We look forward to bringing premium cryptocurrencies to the real world with SpherePay's fast-paced ecosystem of blockchain and cryptocurrency which will cover over 400 million people in South East Asia. This innovation will enable our users to pay for their purchases using cryptocurrency whenever they need it," said Joseph Chen, CEO of SpherePay. Accompanying this initiative, SpherePay will launch its own cryptocurrency and official token called SAY, with its ticker symbol as SAY. Its whitepaper has been released on its official website. SAY is an ERC20 token and ETH ERC20 wallet compatible. The company will release a total of 10 billion SAY tokens, within this, 40% will be offered on ICO. The company will announce SAY's Initial Coin Offering (ICO) within the next two days, releasing over 6 billion tokens to the market. Public can subscribe to receive the token during its ICO via the official website at say.spherepay.com SpherePay is developed by OPG Asia, a company founded in Singapore in 2017. OPG is the world's leading provider of financial innovation and payment services. The company is committed to the development of electronic business and operations to improve the operational efficiency of the society as a whole.
SpherePay set to launch own cryptocurrency called SAY