Fuse, a major payments platform based on Web3 has recently formed a partnership with a payment solution company, ChromePay.
ChromePay is a major payment solution that is identity-based and now, it has formed a strong partnership with Fuse.
Africa Gets New Payment Products
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Fuse has confirmed that their partnership would be responsible for developing multiple products from the payments segment. The Web3 Company is determined to introduce new products in Africa in the payments segment.
Africa is proving to be a highly promising and promising continent for the adoption of cryptocurrencies and blockchains. Every major and minor entity in the crypto-blockchain industry has realized the potential of the African region.
Therefore, Fuse has decided to introduce new financial cryptocurrency products on the African continent.
Web3 Economy Uplift
According to the executives at Fuse, they have formed a partnership with ChromePay, for the purpose of acquiring the DID. The full form of DID is a decentralized identity service.
As per the executives from both companies, their goal is to spread the Web3 network all over the African continent. The company is aiming to launch a new Web3 economy and an ecosystem for the African region.
ChromePay officials have revealed that they will be using the blockchain network of Fuse in order to offer DID-powered Web3 payment services.
A Grant for ChromePay
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A major advantage Fuse has offered ChromePay following their partnership is a grant. A grant has been issued for ChromePay and the amount for the grant has not been disclosed.
ChromePay will be able to use the grant in order to build services on the Fuse blockchain. These services may involve DID services and decentralized finance (DeFi) services.
ChromePay will be building these services on the Fuse blockchain directly, which means that Fuse has granted the service provider much more than just a grant.
Major Advantage for Users
Another major aspect of the partnership is to offer users vast access to payment services. The ChromePay users will have the ability to use their mobile devices and process payments directly via traditional and blockchain-based systems.
ChromePay was founded back in 2019 and it first launched its application for payment solutions in 2021 in Nigeria. The platform had carried out the testing phase of the application before its implementation.
ChromePay officials have announced that their next expansion would be in Ethiopia, which will be powered by DID.
The service provider is aiming to expand its network throughout Africa. Ethiopia is going to prove to be a very fine choice for ChromePay to expand its business alongside Fuse.
So far, the major crypto-adopting countries in Africa include South Africa, Nigeria, and Kenya. However, the ultimate goal for ChromePay is to go after region-wide expansion.