At the end of this year, TransCrypt plans to receive an EMI (Electronic Money Institution) license. We will tell you what it is and what it gives to the project.
Electronic Money Institution is a license for issuing electronic money. It allows to issue own currency. The emitted electronic currency can be used outside the site of the payment system. It is possible to output it and convert it to any other currency. The Electronic Money Institution license also allows to use own currency to service third party payments.
The EMI license allows to bind already existing payment bank cards to client sub-accounts. It is also possible to issue cards of major vendors (VISA, MC). In addition, based on EMI, you can create your own card payment system.
Thus, after receiving EMI TransCrypt will be able to realize all the conceived functions of its wallet. Adhering to its plan, TransCrypt will be able to issue a bank card VISA, which will allow customers to pay even in places where the cryptocurrency is not accepted.
Start using TransCrypt wallet now! Download on Google Play - https://play.google.com/store/apps/details?id=com.transcrypt.armadillo
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