Reveel Reaches Milestone of 100,000 Users in Over 160 Countries

New York, New York, July 23rd, 2024, Chainwire

Global Mobile Payment App Revolutionizes On-Chain Cross-Border Payments with Multi-Chain Capabilities

Reveel, an on-chain peer-to-peer payments dApp, today announced that it has reached the significant milestone of 100,000 users spanning over 160 countries. The achievement makes the Binance Labs-backed startup the largest on-chain peer-to-peer (P2P) payments app available, providing users access to decentralized, transparent and secure on-chain payments globally and across multiple tokens and chains, including BNB Chain with whom Reveel recently announced a collaboration.

According to Emarketer, nearly 3 in 4 US smartphone users are expected to send money over P2P payment apps by 2028. Despite this increasing adoption, cross-border payments through traditional systems still amount to $190 Trillion USD. Stablecoins provide a less expensive and complex alternative to traditional cross-border payments, but the fragmented nature of crypto across 100s of networks has proven a barrier to broader adoption.

Unlike other on-chain peer-to-peer payment methods, Reveel’s Multi-Token and Multi-Chain capabilities allow users to easily make cross-border or peer-to-peer payments regardless of the token or chain of choice, within a simple one-click interface. Reveel currently supports one-click payments across Ethereum , Base, BNB Chain, Optimism, and Polygon, using all stablecoins on those chains.

As a pioneering omnichain payments infrastructure, Reveel provides a number of useful capabilities including:

Multi-Token and Multi-Chain Payments: Reveel supports payments across various tokens and blockchain networks, providing unparalleled flexibility and convenience.Programmable Multi-Wallet Identifier: Users can create programmable routes for their payments, unlike traditional single wallet systems.Seamless Cross-Chain Transactions: With one-click cross-chain transactions, Reveel connects users across different environments, fostering a truly interconnected financial ecosystem.“Today, blockchains are like nations. Each has its own economy and sending funds from one to another is even more complicated than cross-border transactions. But the future is multi-chain. That’s why Reveel is building omnichain technology to allow people to pay anyone, anywhere, on any chain. ,” said Adrien Stern, Founder & CEO of Reveel. “Our platform is breaking down the barriers that previously prevented seamless financial transactions across any types of borders.”Matt Law, Chief Commercial Officer, Outlier Ventures also said about the announcement: "At Outlier Ventures, we strongly believe in the benefits of decentralized, transparent, and secure on-chain payments. As one of our portfolio companies, we are impressed with Reveel's omnichain P2P payments solution and the potential it has to drive broader adoption of crypto-enabled payments"About Reveel

Reveel is an omnichain payments infrastructure that enables one-click cross-chain payments, connecting people across borders and networks. As a global P2P payments protocol, Reveel allows money to flow to anyone, anywhere, on any chain. Users can create their unique programmable payments ID, facilitating seamless transactions and fostering a borderless community. Reveel’s core values include decentralization, community-driven actions, and self-sovereignty, making it a fresh, forward-thinking solution in the crypto space.

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This article was originally published on Chainwire

Source: Investing.com