North Shields, UK, October 16, 2024 (Globe Newswire) — Three Protocol is proud to announce the introduction of 3Pay, an advanced financial solution offering KYC-free virtual debit cards and crypto vouchers I think so. This marks an important milestone for the global financial space, introducing private, secure and decentralized alternatives to traditional payment systems while improving global financial inclusion.
Three Protocol introduces an innovative approach to digital payments with 3Pay. This eliminates the need for cumbersome and privacy-impacting Know Your Customer (KYC) steps. This ensures that users can enjoy the benefits of cryptocurrency-based transactions without compromising their privacy or facing certain restrictions imposed by traditional financial institutions. Seamless crypto-to-fiat conversion for individuals is now possible with 3Pay's non-KYC cards and vouchers, opening new horizons for global cryptocurrency adoption.
3Pay: A game changer in crypto finance
In a nutshell, 3Pay is a decentralized payment system that offers on/off ramps, payment options, and KYC-free debit cards. Such cards allow you to use cryptocurrencies just like any other fiat currency. This has far-reaching implications and helps bridge the gap between the online and offline financial worlds. But what really sets 3Pay apart from many payment systems is its focus on privacy, decentralization, and worldwide access.
Traditional financial systems often restrict users by imposing strict identity verification processes, leaving many people unbanked or underbanked. In contrast, 3Pay is a comprehensive service, especially for the 1.7 billion individuals around the world who remain unbanked due to lack of access to financial services or documents. KYC-free debit cards and vouchers give almost anyone access to the global economy without the hassles associated with traditional banking.
“With 3Pay, we are ushering in a new era of financial inclusion.” Grant Robertson, Founder and CEO of Three Protocol, said:. “By eliminating the need for KYC and providing a seamless way to use cryptocurrencies, we empower users who have traditionally been excluded by centralized financial systems.”
Main features of 3Pay
- KYC-free virtual debit card: Virtual debit cards are available and users can use them on the go without any hassles of KYC steps. These virtual cards allow users to spend their cryptocurrencies anywhere traditional debit cards are accepted, with complete privacy.
- Cryptocurrency vouchers without KYC: In addition to KYC-free debit cards, Three Protocol also issues KYC-free crypto vouchers, allowing users to safely and smoothly purchase goods and services using their cryptocurrencies.
- on/off ramp: 3Pay enables seamless migration between fiat and cryptocurrencies. We offer a seamless conversion process and meet the rapidly growing demand for cryptocurrency payments in daily transactions.
- Global usability: Whether it's paying bills, making online purchases or sending money across borders, 3Pay guarantees end users speed, security and privacy without intermediaries.
Financial inclusion and privacy
In today's interconnected world, privacy concerns regarding financial data are on the rise as centralized institutions store large amounts of personal information. The non-KYC approach taken by Three Protocol puts users in control of their personal data and eliminates the need to provide sensitive information to participate in the digital economy. This approach is designed to protect user privacy and provide gatekeeper-free participation in the global financial ecosystem.
For many, the main barrier to participating in the financial system was the KYC process, which required government-issued identification or residency in a country with a strong financial infrastructure. 3Pay breaks down these barriers and allows anyone, anywhere to access the benefits of cryptocurrencies in a secure manner.
said Brendan Young, CSO at Three Protocol. “We are building the infrastructure of the future. 3Pay breaks down the barrier between digital and physical payments and makes financial inclusion a reality.”
Role of $THREE
$3 is the native token of the Three Protocol ecosystem and is the core of 3Pay's functionality. Token stakers will be incentivized with compensation, participation in governance decisions, and will also receive reduced fees when trading on the Three Protocol Marketplace. A portion of the proceeds from 3Pay transaction fees will be used for buybacks and token burn, introducing a deflationary mechanism that adds value to long-term holders of $THREE.
$THREE will be integrated into the 3Pay ecosystem, ensuring a sustainable and rewarding environment for all participants. In this case, as the adoption of 3Pay increases, the utility of $THREE also increases, creating synergies between users, merchants, and investors.
vision for the future
As the world increasingly moves towards digital payments, Three Protocol is at the forefront of change. Additionally, 3Pay allows users to enjoy the benefits of cryptocurrencies without the typical limitations imposed by centralized financial systems. KYC-free debit cards and vouchers are already available, but this is just the beginning of the innovations Three Protocol is bringing to market.
In the future, Three Protocol remains committed to its vision of greater financial inclusion, privacy, and ease of access to the global digital economy. With further developments in 3Pay, including the integration of physical non-KYC debit cards and new payment features, this project is poised to redefine how people interact with their finances.
About Three Protocol
A fraud-resistant cryptocurrency-based e-commerce tool designed to make cryptocurrencies a global payment method.
ZKi3s enables on-chain reputation without KYC, Tri-Proof smart contracts fight fraud, and 3Pay provides a decentralized private payment system. Three Protocol's vision is centered around creating scalable, private, and secure online commerce. Decentralized marketplaces, including Jobs3, are transforming the future of e-commerce.
Website: http://threeprotocol.ai/
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Disclaimer: The information provided in this press release is not intended as a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. Before investing in or trading in virtual currencies or securities, we strongly recommend that you exercise due diligence, including consulting with a professional financial advisor.
