Carpooling app Ryde from Singapore has reportedly disclosed details regarding its release of its crypto wallet, with Bitcoin (BTC) integration for payment support.
Specifically, Ryde reportedly claimed that it is the first of its kind of carpooling app to making Bitcoin payment available across its platform to all of its clients, beginning June 22nd.
The firm’s wallet – RydePay – will reportedly offer Bitcoin-Ryde conversion for topping up their balance and pay for the ride hailings. The conversion will reportedly be clocked in at market rate free-of-charge, with Ryde coins pegged to the Singaporean dollar.
Bitcoin deposits will have the highest capped level being 999 Singapore dollars ($715). Moreover, the firm looks to roll out facilitation for additional digital coins in the future.
“COVID-19 has accelerated the shift towards digital payments and Ryde is set to be a game-changer for cryptocurrency adoption in Singapore. […] As consumers get used to paying for ride-hailing services through Bitcoin, we envisage that this will be a catalyst that spurs the mass adoption of cryptocurrencies here.” Head of Ryde Terence Zou reportedly claimed.
Previously, in July last year, the Fortaleza city of Brazil has reportedly added Bitcoin to the list of payment methods when purchasing bus tickets.