• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Investing

Smile Shop Joins Conflux PayFi Ecosystem with BitUnion Prepaid Card

by December 3, 2024
written by December 3, 2024

New York, United States, December 3rd, 2024, Chainwire

Smile Shop, the premier Asian e-commerce platform, has partnered with Conflux Network, China’s only regulatory-compliant public blockchain, to launch the BitUnion prepaid card. This partnership signifies a major expansion into global digital asset payment with cards welcome in 183 countries and regions. 

The BitUnion prepaid card operates on the recently launched UnionPay International USD prepaid card framework. UnionPay International, the world’s second-largest card payment processor, ensures seamless financial transactions. Users can load funds onto the card to make online purchases, use it at point-of-sale machines, or withdraw cash from UnionPay ATMs across 183 countries. The card can also be linked with popular third-party payment platforms like Alipay and WeChat Pay. Whether offline or online, transactions are settled at real-time exchange rates between local currencies and USD. The account approval process is quick, and management fees are waived during the initial launch period.

As a key product in Conflux’s PayFi ecosystem, the prepaid card incorporates experienced security authentication systems from traditional finance. User data is managed by professional institutions, ensuring security and compliance. Fiat assets are held within the UnionPay account system, guaranteeing absolute security and reliability. The BitUnion prepaid card has obtained the highest-level financial security certifications, including 3DS and PCI-DSS, comprehensively protecting cardholders’ payment security. 

The prepaid card will support digital asset transactions and transfers within the Conflux Network, leveraging the blockchain-based PayFi system to overcome limitations in traditional payment infrastructure. Introducing traditional financial models (from credit cards to invoice financing and reverse factoring) into blockchain creates a more integrated value network. Conflux’s PayFi (Pay Finance) addresses inefficiencies in traditional payment systems while keeping financial operations aligned with real-time data, creating a large-scale model for blockchain consumer application ecosystems. 

As a high-performance Layer1 blockchain, Conflux has been at the forefront of technological advancements, particularly in the development of Stablecoins. They are now expanding their focus to encompass a comprehensive Payments infrastructure and cultivate the PayFi ecosystem. Aiming to become the blockchain of choice for consumer-grade Payments in the future, Conflux Foundation has committed 500 million CFX from the ecosystem fund to fuel the growth of PayFi stack components.

About Smile Shop 

Smile Shop is a super e-commerce platform under Smile Shop Holdings Pte (Singapore), targeting Southeast Asian markets with the vision of becoming Southeast Asia’s most trusted fintech super e-commerce platform. 

About Conflux Network 

Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies worldwide. It utilizes a hybrid PoW/PoS consensus mechanism, ensuring a fast, secure, and scalable blockchain environment. Conflux operates without congestion, maintains low fees, and prioritizes network security. 

Being the leading regulatory-compliant public blockchain in China, Conflux offers advantages for projects entering the Asian market. In its partnerships, Conflux collaborates with global brands and government entities including, Shanghai, China Telecom, Little Red Book (China’s Instagram), McDonald’s China, and Oreo. These noteworthy collaborations serve as a testament to Conflux’s unwavering dedication to driving blockchain and metaverse initiatives. 

Contact

Melissa Tirey
melissa@shift6studios.com

The post Smile Shop Joins Conflux PayFi Ecosystem with BitUnion Prepaid Card appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Crypto phishing losses drop over 50% in November, reports ScamSniffer
next post
Shiba Inu outlook: Over 7,500 new wallets boost SHIB ecosystem as prices hit 8-month high

You may also like

BC.GAME to host ‘Untamed Arena’ during TOKEN2049 Dubai,...

April 23, 2025

Keycard launches pre-sale for Shell: the most open,...

April 23, 2025

BA stock rises as Boeing reports smaller Q1...

April 23, 2025

US stocks surge at open: Dow climbs 2.4%,...

April 23, 2025

iExec launches 1M $RLC fund to support AI...

April 23, 2025

MEXC strengthens reserve backing with $390M asset increase

April 23, 2025

Oil prices rebound: what’s driving the rally and...

April 23, 2025

Silver rises with gold, but industrial demand outlook...

April 23, 2025

Lead Edge Capital founder Mitchell Green says recession...

April 23, 2025

Why is Toncoin price rising today?

April 23, 2025

BC.GAME to host ‘Untamed Arena’ during TOKEN2049 Dubai,...

April 23, 2025

Keycard launches pre-sale for Shell: the most open,...

April 23, 2025

BA stock rises as Boeing reports smaller Q1...

April 23, 2025

US stocks surge at open: Dow climbs 2.4%,...

April 23, 2025

iExec launches 1M $RLC fund to support AI...

April 23, 2025

MEXC strengthens reserve backing with $390M asset increase

April 23, 2025

Oil prices rebound: what’s driving the rally and...

April 23, 2025

Silver rises with gold, but industrial demand outlook...

April 23, 2025

Lead Edge Capital founder Mitchell Green says recession...

April 23, 2025

Why is Toncoin price rising today?

April 23, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump says national security concerns in Nippon-U.S. Steel deal can be resolved

      June 15, 2025
    • Protected: The Best Link Building Marketplaces / Platforms in 2025

      June 13, 2025
    • Howard Schultz says he ‘did a cartwheel’ when Starbucks CEO Niccol coined ‘back to Starbucks’ strategy

      June 12, 2025
    • Heltec Automation Partners with Morse Micro to Advance IoT Connectivity with Wi‑Fi HaLow

      June 12, 2025

    Categories

    • Economy (744)
    • Editor's Pick (394)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick