OmiseGo Joins Crypto Coalition Universal Protocol Alliance
Ana Alexandre's original article for cointelegraph.com reduced by 76%
OmiseGo, a finance-oriented scaling network for Ethereum, has become a member of Universal Protocol Alliance, a coalition of blockchain and cryptocurrency-focused firms. Targeting financial services and tax collectionIn a press release shared with Cointelegraph on Oct. 8, the startup revealed that it will incorporate the Universal Protocol Platform UPT utility token into its payment processing technology.
OmiseGo intends to let stakeholders to use UP stablecoins for financial services and tax collection, as well as collect transaction fees. Dan Schatt, co-founder of the Universal Protocol Alliance, said that OmiseGo's technology "Will help support the mass adoption of blockchain technology utilizing UPUSD and other UP stablecoins for consumers, merchants and local governments." Partnership with Hydro Labs to streamline paymentsAlso today, OmiseGo announced a partnership with Hydro Labs, an open-source blockchain project designed to address the unbanked issue. As for OmiseGo, the new partnership allows it to introduce the real world application of its plasma chain technology for everyday payments.
This spring, the Alliance issued its own euro-pegged stablecoin.
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Summarised crypto news.