Zeux adds IOTA for Crypto Payments at Retail Stores

LONDON, UK (March 21, 2019) — Payments and banking services app Zeux has teamed with the IOTA Foundation to create a system that will allow users to use MIOTA tokens as payment with merchants that accept Apple Pay and Samsung Pay.

Zeux, an FCA authorized financial service company, will launch in Europe this April and in the US in 2020 at hundreds of merchants, ranging from coffee shops to grocery stores. The app company provides a simpler way to pay, bank and invest by integrating all these services onto one place. It is a digital banking solution for both fiat and cryptocurrencies and leverages a long list of third-party partners to provide integrated investment products to its customers. The company charges no fees for account opening, money transfers, top-up or crypto payment commissions.

David Sønstebø, founder and co-chairman of IOTA Foundation, said “This partnership with Zeux will provide a significant convenience benefit for IOTA ecosystem. We are very excited for this. Now IOTA digital currency can be used as payment with merchants that accept Apple Pay and Samsung Pay. By combining existing technology with another form of currency, this is a big step forward towards the adoption of crypto for the masses.’’

Frank Zhou, Founder and CEO of Zeux, said the partnership will drive the widespread adoption of cryptocurrency use in daily lives.

“Zeux is very excited about partnering with the IOTA,” Zhou said. ”As a distributed ledger with zero transaction fees, The Tangle is a very promising chain for us to build our customer data Dapp. This marks another step forward in our journey. We look forward to working with IOTA and giving their customer base even more financial freedom.”

More about Zeux

The company has also introduced the ZeuxCoin Token (ZUC), a loyalty holding token for cashback on all crypto purchases and a payment fee token for all the commissions paid by financial product providers. Zeux will launch the multi-function app in April where it will become available in Europe.

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About IOTA Foundation

IOTA is a not-for-profit foundation incorporated and registered in Germany. The IOTA Foundation’s mission is to support the development and standardization of new distributed ledger technologies (DLT), including the IOTA Tangle. The IOTA Tangle is an innovative type of DLT specifically designed for the Internet of Things (IoT) environment. It is an open-source protocol facilitating novel Machine-to-Machine (M2M) interactions, including secure data transfer, fee-less real-time micropayments, and the collection and dissemination of sensor-based and other data. www.iota.org