Cryptophyl, a London-based exchange, is a trading platform focused on the Simple Ledger Protocol (SLP) and BCH (Bitcoin Cash). On October 29, the stock market announced the launch of the first access ramp in Fiat to obtain well-known SLP tokens.
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Purchase of SLP chips with Fiat
Cryptophyl.com revealed that the public can now buy passive SLP tokens via credit cards, debit cards and Apple Pay. The Cryptophyl team works with the payment processor Moonpay to facilitate the implementation of the fiat. The ecosystem of SLP chips has become quite mature this year and thousands of chips have been created using the BCH network. The data reveals that 5,400 SLP tokens have been minted since the beginning of the protocol and that a large number of tokens have been listed during exchanges. Cryptophyl was launched in August and initially offered spice trading (SPICE) with bitcoin cash, but the trading platform now has the honestcoin token (USDH) and the Cryptophyl Developed Drop token (DROP). Cryptophyl's drop in original trade-in chips takes advantage of the opportunity to use dividends on the channels by paying discarded tokens to their owners directly in their wallet.
Now the Cryptophyl team has partnered with Moonpay to provide credit and debit card support to Cryptophyl's trading platform. The initial launch of Cryptophyl's trust payments will allow users access to spices and stable USD. In the near future, credit and debit card payments can be used to obtain money in bitcoins and deposit objects. "We are proud to partner with Cryptophyl to support instant SLP token purchases," said Ivan Soto-Wright, co-founder and CEO of Moonpay. "Reducing barriers to entry is essential for traditional adoption." Moonpay users will have a connection to the SLP universe and will "expand the reach of SLP to all Moonpay integrated product users," the Cryptophyl announcement said.
Make Bitcoin cash token trading more accessible
According to the Cryptophyl team, honestcoin (USDH) and spice (SPICE) are the most popular chips on the trading platform. Moonpay and Cryptophyl's Fiat on-ramp will charge a fee of 3.99% per transaction. "It's great to see the addition of credit card support to Cryptophyl," said Cryptophyl founder Semyon Germanovich at the announcement. "We are constantly working to make token trading more accessible. We're excited to connect Moonpay's existing user base to some of the most popular SLP tokens. Germanovich added:
This is a great moment for the SLP tokens and we are delighted to see him evolve over time and be part of this journey. This is the beginning of many great things to come for Bitcoin Cash and the vast ecosystem of cryptocurrency.
Since the creation of Cryptophyl, the trading platform has focused on token technology attached to the BCH network. The purse aims to continue expanding the list of SLP pairs on the trading engine. "This mission is accomplished through the discovery, due diligence, and subsequent listing of quality tokens that demonstrate real utility," notes Cryptophyl. "In the future, both companies are committed to working together to add all the new chips listed at Cryptophyl to Moonpay."
What do you think of Cryptophyl, revealing its transition to the ecosystem of SLP chips? Tell us what you think about this topic in the comments section below.
Image credits: Shutterstock, USDH, SPICE, Pixabay, Moonpay and Cryptophyl.com.
Did you know that you can buy and sell BCH privately using our local non-depository Bitcoin Cash trading platform? The Local.Bitcoin.com market currently has thousands of participants from around the world negotiating with BCH.