Main navigation

IOTA Might Receive Direct Fiat Gateway in Q2, 2021, Here's How

News
Mon, 04/19/2021 - 11:02
article image
Vladislav Sopov
Project Omoku targets coming months as the time frame for enabling direct IOTA purchases with bank transfers
IOTA Might Receive Direct Fiat Gateway in Q2, 2021, Here's How
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

The team at Omoku shared its ambitious plans on bringing fiat on-ramps to IOTA. Its closest roadmap includes API integrations and activation of bank transfers for IOTA purchases.

More opportunities for fiat IOTA purchases

According to a recent official announcement by software development team Omoku, it is going to significantly ease the process of interaction between post-Chrysalis IOTA and fiat payment systems. Namely, IOTA's reusable addresses can now be stored in one's Omoku account for seamless purchasing of IOTA.

IOTA fiat purchasings will be advanced by Omoku app
Image via Twitter

The in-app purchases will be low fee (0.9 percent), and a recurring order option is also available. With Chrysalis update activation on April 28, 2021, the new API interface will be integrated into IOTA processes by Omoku.

Alongside that, the Omoku team is working on UX improvements and tutorials for crypto newbies. But the most challenging milestone is Omoku's seamless integration with the Single Euro Payments Area (SEPA), a popular classic fiat payments protocol for businesses and individuals.

Omoku customers will be able to buy IOTA instantly through their bank accounts as soon as Q2, 2021.

IOTA development progress on fire, data shows

As covered by U.Today previously, migration to IOTA's Chrysalis starts in two days while the upgrade is set to be activated on April 28, 2021.

Related
IOTA to Start Migration to Chrysalis on April 21. Here's What You Should Know

Meanwhile, the automated tools designed for tracking the activity of the open source development process on GitHub, registered the spike in IOTA's commits and issues.

According to the ProofofGitHub automatic dashboard designed for tracking GitHub repositories, IOTA is #1 by daily development activity in April followed by Bitcoin, Cardano, Polkadot, Kusama and more.

article image
About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)