Valorem Foundation Inc., a blockchain startup that specializes in value-based lending, investing, insurance and payments is partnering with SpicePay, a payment processing software to incorporate more robust system.
A More Efficient Cryptocurrency Execution
The partnership between the two cryptocurrency companies will consolidate Valorem Foundation Inc.’s range of services. It is meant to add speed, safety and personalized approach to the platform, the three foundations on which SpicePay is built.
These three added value positions will bring about the following:
Speed: EU merchants will access crypto funds in under 24 hours, as opposed to the common 72-hour processing in traditional payment processing.
Safety: Through the SSL transaction, processes are brought about via HTTPS protocol with 128 bytes of transferred encryption data, which prevents third-party data interception.
Personal Approach: SpicePay does not sort its users through any criteria, providing each customer with the same quality service of complete support.
Val Kleyman, the CEO and Founder of Valorem Foundation expressed his excitement over the partnership, which he believes will create a user-friendly financial network on blockchain technology.
The CEO 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.”
A Peer-To-Peer Platform For Multi-Party Transactions
Valorem Foundation is currently in development of a community peer-to-peer platform for multi-party transactions. The company is a blockchain startup specializing in stabilized, value-based lending, investing, insurance and payments. It allows users to exchange value via smart contracts on the Ethereum blockchain. Users on the network will be able to lend, invest, borrow, transfer, hedge others and exchange value with other users.
Valorem uses the VLR, its native token and mode of transacting. This creates a trust-based platform that cancels out the need for third-party services or external vendors. Although in development, the company has already produced a variety of services on its network.
The utility platform offers: user-enabled multi-purpose wallets that hold Bitcoin and Ethereum, and purchase and hold VLR tokens. It provides transaction visibility and 0% fee transfers on VLR when transfers are made in the network. It supports functions and password systems, troubleshooting and system integrity maintenance.
As for the services currently being developed by Valorem Foundation, they include: the implementation of SpicePay for users to purchase VLR via credit/debit cards (additional KYC will be required), a public forum-style community chat and deal proposals, a “lending smart contract” development with hedge voting and reserve, an “investing smart contract” development with hedge voting and reserve. The company will also roll out “Trust Me,” a service that uses smart contracts to securely transact between previously unknown parties through an escrow function. It is designed primarily to build trust between users who don’t know each other.
The new subdomain is located at ico.advalorem.io.
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