【Copperx】Introduces Crypto Payments in 5 minutes! Capturing a $1 trillion market and over 400 million users for instant & secure payments!
Copperx is a product that allows you to start making crypto payments in just 5 minutes with 7 lines of code and an API.
Good morning.
This is Mitsui, a web3 researcher.
Today, I researched Copperx.
"Table of Contents"
1、What is Copperx?
- Functions
- Features
- Advantages of Introducing Crypto Payments
2, Crypto payments are a multi-trillion dollar market.
What is Copperx?
Copperx is a product that allows you to start making crypto payments in just 5 minutes with 7 lines of code and an API.
The India-based startup was founded in 2022. One of the founders was the lead designer at Polygon.
■Functions
Here are the main features
Invoicing & Payment
Checkout page creation
Creation of payment links
Creation of payment systems with subscriptions
Dashboard for centralized management of customer payments
API functionality that can be integrated into your own e-commerce site or service
Basic payment-related mechanisms are realized in crypto payments. Currently, payment in BUSD, BNB, DAI, ETH, USDC, USDT, BTC, and MATIC is supported.
In addition, Subscriber's payment system is built using the "Superfluid" streaming protocol.
■Features
One of the recently implemented features is the "Currency Conversion" function, which allows users to easily implement crypto payments.
This is a feature that allows customers to settle in a crypto of their choice. Companies prefer to receive funds in stable coins such as USDC due to the high volatility cost, but customers prefer to settle in their favorite crypto.
With Currency Conversion, customers can pay in ETH and companies can receive in USDC. This will save companies the trouble of manually converting cryptocurrencies to stablecoin after ETH payments are completed, and allow customers to pay in the currency they use most often.
■Advantages of Crypto Payments
Copperx defines the following reasons for introducing crypto payments
Access to a new customer base: access to over $1 trillion in crypto markets and 420 million users
Instant payment: receive funds instantly in your wallet
No chargebacks: Eliminate fraud and chargebacks
Global from day one: Transact with anyone, worldwide, without intermediaries
Low fees: Very low commissions increase profits by up to 25
It means a safe and secure payment method that can immediately reach out to anyone in the entire world who uses cryptos.
Crypto payments have a multi-trillion dollar market.
Here are my impressions from my research.
We feel that the crypto payment area is very exciting, including Helio, which we researched recently, TipLink, which allows FTs and NFTs to be sent through link sharing, and Slash Web3 Payment, which originated in Japan.
All of these companies are communicating that "there is an untapped market of tens of trillions of yen in the crypto payment area," and their growth potential is highly regarded. I am personally considering the prospects, and the potential is still very great.
First, it is said that there are still billions of people in the world who do not have access to finance. Originally, what Meta was trying to do with Libra was to provide a global stablecoin not only to existing users, but also to this unbanked population, those who do not have bank accounts and do not have access to finance.
The reason why the state was against Libra was because they felt there was a demand for it, although the scale was too big. They must have felt that if such a large company did that action, it could become a truly global currency.
In other words, blockchain crypto payments will have such convenience and impact that it will change the history of currencies in the future.
Many people who do not have bank accounts also have smartphones, and crypto payments are possible as long as you have a smartphone. In addition, the creator economy has made it possible to transmit to people all over the world and charge directly to people anywhere in the world, but if the creator side does not have a bank account, there is no place to receive the funds from the sales.
In other words, there is virtually no way to earn money. However, if direct billing is accepted through crypto payment, everything can be completed only with a smartphone. Both content distribution and billing receiving location (wallet) can be realized with a single tap, and you can earn money through direct billing by transmitting your talent to the world.
In this light, we still believe that the payment and financial areas of crypto will grow by orders of magnitude from now on. Despite the conflicts with the state, it should be difficult to completely regulate the decentralized blockchain.
So I personally will be watching this area with great attention in the future.
ps.）
I received a response from a Copperx founder “Delpat“ on Twitter. Since I received the response, I immediately decided to write a research paper (I was not paid in any way).
I was very impressed that they responded to a tweet with so little influence yet, and that they are researching on so many keywords, including the competition. I think the scale of what these startups are trying to achieve in the global crypto payment area is extraordinary, but I was impressed that they are steadily working on PR activities in such a detailed manner. This is a project that I want to support at once!
That was my research on "Copperx. If you found it interesting or informative, we would appreciate it if you could help us spread the word by liking, commenting, and spreading the word on social networking sites!
«Reference Link»
Disclaimer: This is written after careful examination of researched information, but since it is privately operated & the source is often in English, there may be some mistranslated or incorrect information. Please understand that some information may be mistranslated or incorrect. Also, we may introduce Dapps, NFTs, and tokens in the articles, but we do not have any solicitation purpose. Please purchase and use all at your own risk.
Writer
mitsui@web3researcher
Daily information about web3 (projects, news, explanations of vocabulary, interviews with project owners, and articles about learning and thinking from research).
I run a web3 based Substack with over 1,000 subscribers in Japan. If you have a project that you would like to expand for Japan, please contact me on Twitter.
※This is a translation of a Japanese article, so I apologize for any unnatural English.