The service lets customers pay via 43 different cryptocurrencies or through a direct transfer, the release stated. RocketFuel does away with the need for payment intermediaries and cuts down on the need for merchant costs that come with card network fees, bank fees and chargeback costs, also serving to improve cash flow for merchants.
In other news, the U.K.’s Financial Conduct Authority (FCA) published a new policy statement Wednesday (March 31) including crypto companies on the list of those required to submit a financial crime report, CoinDesk reported.
The idea is to increase the number of firms required by law to report what they’re doing about financial crimes. That will now include “all cryptoasset exchange providers and custodian wallet providers” along with multilateral trading facilities (MTFs), organized trading facilities (OTFs) and electronic money institutions, the report stated.
Businesses required to submit such a report are referred to as REP-CRIM, according to CoinDesk. That designation previously applied to only about 2,500 firms of the 22,000 supervised by the FCA, but now that number will be boosted to 7,000.
The company was founded in 2016 in order to address the lack of user-friendly entry points into crypto. According to the release, imToken believes that the digital wallet is the best and most secure, cost-effective way to bank and wants to make a wallet platform that is easier to use.
The new investment will help the company boost imToken 3.0, which will feature keyless accounts, account recovery and new secure and convenient access to decentralized finance (DEFi) services. The release noted that this is “a leap to the centralized digital wallet.”