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Parking with Bitcoin – Belgian startup integrates crypto payments

The Belgian startup Seety, which specializes in parking tickets, is now introducing cryptocurrencies as a means of payment.

According to a report by DataNews, the company, which is funded under the Belgian funding program Start it @KBC, has introduced cryptocurrencies as a means of payment in the cities of Antwerp and Brussels.

As a result, Seety users in the cities concerned can pay for their parking tickets with Bitcoin (BTC) and some Altcoins from this Thursday.

In addition to the market leader, Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE) and Litecoin (LTC) as well as the stablecoins Dai (DAI) and USD Coin (USDC) are available.

In order to be able to park with cryptocurrencies, users only have to select the “Coins” function in the Seety Parking app, which in turn can be used to top up the corresponding credits, which are then offset. There are no separate fees for paying by crypto.

The Seety app has more than 355,000 users in Belgium and the Netherlands combined. The company’s annual revenue is expected to grow to over $ 2 million by 2022.

The company sees the integration of crypto currencies as a means of payment as a clear indication that the asset class could be increasingly used for microtransactions in the future. Especially as soon as mining has become more environmentally friendly, Seety expects an increasing demand for crypto payments.

Actually, the use of cryptocurrencies to pay for parking tickets is almost old hat, because it was already possible in 2014 in some countries via the former Brawker app. However, crypto payments are only now really gaining ground, although there are still considerable barriers to mass suitability in this function.

Crypto credit cards and stablecoins play an important role here, as they make it much easier for online retailers to offer cryptocurrencies as a payment method.

As Cointelegraph has reported, even the large payment service provider Visa is now using crypto credit cards. In the first half of the year alone, the group processed more than $ 1 billion in crypto payments in this way.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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