It is Nimiq’s mission to deliver the world’s easiest-to-use, most accessible and censorship-resistant payment solution. To realize this grand vision, Nimiq has set its sights on widening the adoption of crypto among online merchants and to empower everyone to pay their favourite merchant using cryptocurrency.
So, how does Nimiq aim to achieve this seemingly impossible vision? With Nimiq Checkout!
This payment solution enables:
- Integrated merchants to get fast traditional currency settlements (like the Euro) directly to their SEPA bank account for sales in NIM, BTC and ETH.
- The customer to pay for goods and services with crypto.
- No intermediary to ever control the crypto and fiat that is changing hands. This means with Nimiq Checkout is completely non-custodial.
Nimiq Checkout leverages Team Nimiq’s expertise in ease-of-use and design to create the best checkout process in crypto. This strength is compounded by NIM being native to the web.
Nimiq has embraced a multi-crypto approach by deciding to support BTC and ETH alongside NIM. This both satisfies merchants' demand to accept the most popular cryptocurrencies while expanding the footprint and exposure for Nimiq.
The solution will also be powered by Nimiq OASIS, which acts as a crypto-to-fiat bridge and settles merchants in fiat (like the Euro) directly to their bank account. Access to the SEPA instant network has already been secured via Nimiq’s partnership with WEG Bank. Nimiq is also in discussions with multiple liquidity providers.
Speed and scalability are key for any payment system to succeed. Nimiq is set to launch Nimiq 2.0 in 2020, powered by the Nimiq researched Albatross consensus algorithm which is expected to be the fastest single-chain blockchain in the world. Team Nimiq anticipates Nimiq 2.0 to be capable of processing five times more transactions per second than PayPal.
Team Nimiq is currently working with WEG bank to connect the first online merchant and non-custodial liquidity provider. First test transactions have already been processed, the goal is to release Nimiq OASIS towards the end of 2020 - enabling the first KYC-free and non-custodial exchange between fiat and crypto.