Bitcoin Cash breakaway venture BSV has received a shot in the arm from a payment system which has now adopted the crypto onto its platform.
Zeux – a London-based fintech company offering instant crypto payments – will now allow BSV holders to spend anywhere that accepts Apple Pay or Samsung Pay.
By adding Bitcoin SV (BSV) to its portfolio, Zeux aims to integrate key financial services like payments, banking, and investments into one app.
The move was welcomed by Calvin Ayre – the leading figure behind Bitcoin Cash before breaking away with Bitcoin Cash Satoshi Vision (BSV) following a hard fork in November 2018.
“It is becoming increasingly clear from proof rather than talk that BSV is the only scalable coin out there. It is key to show the tangible utility of BSV,” he said.
“Being on-boarded by Zeux adds a very important layer for BSV as it can now be used to pay in people’s daily lives.
“It is a pivotal moment for mass adoption of cryptocurrencies – very exciting times.”
Zeux boasts an in-built investment platform and a foreign exchange function while charging no fees for account opening, money transfers, or top ups.
Zeux’s CEO and founder – Frank Zhou – said he was delighted to bring BSV on board.
“As one of the biggest cryptocurrencies, this represents a big step forward to Zeux becoming the world’s first crypto mobile payment and investment app,” he beamed.
“I believe that, together, we can provide our customers with more personal financial freedom by combing the fiat and crypto worlds.”
Meanwhile, Bitcoin Association president Jimmy Nguyen suggested the match was a good move for both parties.
“Bitcoin is supposed to be genuine digital money, and Zeux’s forward-thinking platform makes this an immediate reality,” he said.
“BSV has shown recently with a 100MB mined block that it can properly scale, and now it is showing utility as well.
“Scalability and use are the most important factors in demonstrating how Bitcoin, by which I mean BSV, can become a global, low-transaction fee digital currency.”
BSV, at only five months old, created a storm when it was born from the Bitcoin Cash hard fork in mid-November, which coincided with a sudden and huge drop in the value of Bitcoin.
BTC had levelled at $6,500 for much of 2018 before the fork, which then resulted in a hashing war between BSV and rival Bitcoin ABC (Adjustable Blocksize Cap) endorsed by Roger Ver and Bitmain’s Jihan Wu.
The fallout was, in many eyes, the trigger that caused the resulting crypto crash in the 48 hours after the hard fork – something denied by Calvin Ayre.
“The hard fork was a distraction, but the downturn is because the SegWit coin that’s erroneously still called Bitcoin (Core) now follows the old-fashioned financial trends,” he told Coin Rivet at the time.
“It’s also because people wrongly focus on market cap when it should be about scalability and actual usability.”