SpicePay adds the following benefits to the Valorem Foundation’s platform:
Speed: Merchants in the EU can access funds in less than 24 hours, as opposed to 72 hours with traditional payment processing.
Safety via SSL: Transaction processes are carried out using a secured connection through HTTPS protocol with 128 bytes encryption of transferred data, which bars any possibility of third-party data interception.
Personal Approach: A level of personal service and complete support, unusual in the industry. Unlike financial institutions, SpicePay does not sort users by any criteria and strives to provide every customer with the same quality service.
Valorem Foundation founder and CEO Val Kleyman said: “We are delighted to partner with SpicePay to create a fair and secure exchange for KYC-vetted transactions bridging the mainstream with crypto. Valorem Foundation’s mission is to develop a complete and sustainable financial ecosystem and we trust SpicePay can help us get there.
“After many conversations with SpicePay’s team, we have confidence that they will be a solid partner on our journey to create a simple and easy-to-use financial network on the blockchain. We look forward to expanding our partnership as much as possible in the near future.
“Together, SpicePay and Valorem Foundation will use their technology to combat the risks of today’s volatile cryptocurrency markets and provide a trusted platform for those who wish to see this market flourish and develop into the next big wave.”
Valorem Foundation is developing a community peer-to-peer platform for multi-party transactions. It is a blockchain-based platform that allows users to exchange value via smart contracts.
Once on the platform, users will be able to borrow, lend, invest, transfer, hedge others and exchange value between each other using the VLR (our token and method of transacting), creating a trust-based platform that removes the need for third-party services or external vendors.
User-enabled multi-purpose wallets able to hold Bitcoin, Ethereum, purchase and hold VLR tokens.
Transaction visibility and 0% fee transfers of VLR when transferring inside the environment.
Support functions and password systems.
Troubleshooting and system integrity maintenance.
A note on getting listed on exchanges:
Kleyman said: “We have been contacted by various exchanges.
“However, before any listing takes place, it must be in the interest of all the people who are a part of our community. We will announce a listing agreement once we have finished our due diligence on these potential future partners.”
The following is a list of items currently in development by Valorem Foundation:
Implementation of SpicePay for users to be able to purchase VLR via credit/debit card (additional KYC will be required).
Public forum-style community chat and deal proposals.
Private-style chat between two users for private deal finalization.
The following are the services that Valorem is planning on rolling out later this year:
“Lending smart contract” development with hedge voting and reserve.
“Investing smart contract” development with hedge voting and reserve.
“Trust Me” by Valorem Foundation – a user-to-user exchange using smart contracts in order to safely and securely transact between previously unknown parties using an escrow function on the platform. This service is designed primarily to build trust between users who don’t know each other.
Company: Press Release.
