Aurus Reaches Important Milestone as It Unveils Stablecoin Supported POS Terminals
17 April 2020
Aurus Technologies, the company behind the premier decentralized gold-backed token launches point-of-sale devices to handle stablecoin payments and direct settlements of merchants without the need for PSP’s (middlemen). This effort comes hot on the heels of the company's recent announcement of the launch of their blockchain based debit card in partnership with Tangem - trusted chip-to-chain technology manufacturers. Aurus mobile application and the technologically advanced Aurus debit card with its dual functionality of being both a blockchain-enabled crypto wallet and a debit card with fiat support, will facilitate peer-to-peer AurusGOLD (AWG) payments across several merchant stores allowing users to manage their crypto funds in real-time, from holding to transfers.
No doubt Aurus has witnessed exponential growth. Founded in 2017, Aurus has created a blockchain protocol that enables traditional gold-market participants/entities to independently tokenize real- world/physical bullion into AurusGOLD, a decentralized gold-backed cryptocurrency. AurusGOLD tokens are a digital representation of 1 gram of 99.99% LBMA gold, held securely in partnered vaults.
In line with its commitment to improve traditional financial systems and expand the AurusGOLD use cases making gold as easy as money, Aurus PoS terminals will allow merchants to seamlessly cater for OTC crypto transactions including regulated stablecoins starting with AurusGOLD and other popular stablecoins and CBDCs which will be supported soon. The feature-packed device delivers high performance while its ultramodern design allows it to fit comfortably in the hand. An easy to use touchscreen and a user-friendly interface also enhance its ‘look and feel’ as well as support a steep learning curve for its users. The PoS terminals will support fiat payments and enable users to make instant fiat/crypto purchase via the Visa and MasterCard networks. Away from the painstakingly slow process of selling crypto asset still in use by many merchants, this full-scale integration will make payments faster, more secure and cheaper for people and businesses. Now, cryptocurrency payments will be easier than ever -at any time and place. To cater for payment liquidity for fiat settlement, arrangements are well underway to list AurusGOLD on CBX.one and multiple other exchanges supporting fiat settlements.
The adoption strategy for these devices will commence with the company’s plans to distribute the PoS systems across the various bullion dealers and merchant partners within the Aurus ecosystem. All hands are on deck for an extensive roll out of the Aurus branded PoS terminals starting in Dubai and with further launches in Europe and Taiwan in Q3 2020. Afterwards, PoS terminals and cards will be made publicly available for purchase. All of these represent a massive growth opportunity that will catapult Aurus into the international digital payment space. We are enthusiastic to be advancing cryptocurrencies into the mainstream payment market with our blockchain based debit card and PoS devices. With the coming up of CBDCs, we are preparing the technological infrastructure for the gradual global shift towards digital currencies; to make cryptocurrencies useful as they were intended -as stable payments solution.
Our vision and mission for these devices is perfectly summed up by Aurus' Director of Business development, Mark Gesterkamp who said “We are providing the technical infrastructure in preparation for gradual shift towards a cashless society, helping independent small business owners make the transition into the digital age of payments.”
Indeed, these products (Aurus PoS and debit card), together with AurusGOLD represent a huge milestone in their journey to making gold as easy as money. We look forward to the continued support of Aurus’ growing community of partners and users.