How Crypto Apps Are Changing the Way We Pay with QR Codes

SQRIL, a startup that helps banks and digital wallets process payments, has just added a new feature. Now, crypto apps can use their system to let users pay with QR codes in many countries. This means people can scan a QR code and pay using cryptocurrency, while the merchant gets paid in local money.

The Vision for the Future

The founder, Malcolm Weed, thinks this is just the beginning. He believes that in the future, banks, digital wallets, and crypto apps will all work together seamlessly. With more countries using QR codes for payments and many people holding stablecoins, there's a need for better ways to pay across borders.

Global Adoption of QR Code Payments

QR code payments have been popular in Asia for years. Now, countries in Latin America and Africa are also using them more often. Malcolm thinks that QR code payments will become universal, unlike other technologies that usually move from developed to emerging markets.

Current and Future Reach

Right now, SQRIL's system works in the Philippines, Vietnam, and Indonesia for QR code payments, and in Malaysia and Thailand for bank transfers. More countries will be added soon. The goal is to become the leading infrastructure for QR code payments, especially for stablecoins in emerging markets.