Collaboration to expand earning and spending opportunities across real and virtual marketplaces, while eliminating the need for credit cards and bank accounts
NEW YORK, NY / ACCESSWIRE / April 26, 2022 /Evvio Inc., a fintech company focused on next generation ecommerce, today announced its collaboration with Vite Labs, a zero-fee fast blockchain company. Evvio and Vite's collaboration is grounded in a shared vision that next generation ecommerce will eliminate the need for credit cards, bank accounts and third party processors. Both companies envisage significantly expanded commerce opportunities, faster and smoother transactions without fees, and far greater inclusiveness that only multi-blockchain solutions can bring.
"Evvio is delighted to collaborate with Vite in our respective pursuits to accelerate the shift to ecommerce in a multi-blockchain, interconnected marketplace world where, for instance, one can earn in a metaverse and spend on daily real-life services, or vice versa. Fluid Commerce together with technology such as Vite's fast zero-fee blockchain make the potential of Web3 commerce a reality," stated Adrian Jones, Co-Founder of Evvio. "Vite's vision for the future of multi-chain transactions, along with its performance advantages, unique insights and the caliber of its leadership team made it a natural collaborator. We are excited to work together and see both companies continue to build market prominence."
Vite was created with a mission to ensure that Web3 apps are free and fast like their Web2 counterparts.
"We were impressed Evvio was able to secure key patents that underpin Fluid Commerce, which allow for zero-fee, one-tap transactions spanning both the fiat and crypto worlds," said Richard Yan, Co-Founder and COO of Vite. "We share the same vision for zero-fee fast and fluid Web3 transactions, with the opportunity for significant market expansion without the need for credit cards, bank accounts or other third-party intervention."
Beyond eliminating the need for third-party involvement in transaction processing, Fluid Commerce creates a safe environment for online transactions by negating the security concerns of entering credit card details. By virtue of removing the requirement for bank accounts to participate in ecommerce transactions, the technology facilitates the potential for significant market expansion since the unbanked and underbanked (estimated by The Federal Reserve to be more than 60 million adults in the U.S. alone) can also be part of the ecosystem. Lastly, Fluid Commerce increases ecommerce conversion rates because cumbersome checkout steps are eliminated, which are a direct cause of abandonment or non-completion of digital transactions.
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Evvio is an emerging fintech company focused on next generation ecommerce technology. The company's patented Fluid Commerce engine provides frictionless ecommerce transactions without third-party processor steps, delays or fees. It allows anyone to earn and spend securely and includes verified metered services to prevent fraud. Fluid Commerce is inclusive, giving the unbanked and underbanked greater ability to earn and spend. It uses any digitally-represented currency and provides broad applicability across a range of marketplace types. The technology also expands ecommerce revenue by increasing the number of participating buyers and sellers. For more information, visit www.evvio.com.
About Vite Labs
Vite Labs is a zero-fee blockchain project focused on decentralized system innovations. It is the world's first directed acyclic graph (DAG)-based smart contract platform. The project's flagship DApp, ViteX, is a high-performance order-book decentralized exchange (DEX) that focuses on exceptional user experience and security. Vite's universal bridging protocol allows easy asset transfer between any two chains in a trustless manner. The Vite Builders, aka "Vuilder," ecosystem is expected to continue its rapid expansion with upcoming Ethereum Virtual Machine (EVM) compatibility in 2022. For more information, visit https://vite.org/.
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