Monarch Blockchain has unveiled a new digital wallet targeting Android devices. The “Monarch Wallet” pays more emphasis on ease-of-use as part of a push to accelerate mass consumer adoption.
Monarch Blockchain also promises users a beautiful user experience as it seeks to shrug off competition from other digital wallets. Likewise, every transaction on the digital wallet should be 2-3 clicks away on opening the application. However, the Monarch Wallet relies on push technology which means users must send payments manually.
The new digital wallet for Android devices supports Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies. However, plans are already underway to add support to over 1,500 ERC20 tokens. Furthermore, users will be able to hold their own private keys as part of an effort of making the platform decentralized.
In September, Monarch Pay inked a strategic partnership with Swarm. Similarly, Swarm’s SRC20 security tokens, as well as SWM utility token, will now be available on the Monarch Wallet. Swarm casts itself as a blockchain oriented firm that tokenizes private equity with the help of SRC20 protocol.
It will act as a consumer portal for Monarch Pay. Therefore, online businesses will be able to receive cryptocurrency payments with ease. While users will make payments in cryptocurrencies, the company will pay businesses in U.S dollars.
Seemingly, the blockhain firm is plotting to position itself as an ultimate payment solution for businesses and consumers. Ability to convert cryptocurrencies to fiat is one of the attributes that makes the digital wallet stand out. The digital wallet, therefore, presents an easy way for people to pay monthly bills using their cryptocurrency holdings.
“We believe cryptocurrency can solve many needs of the people. With Android accounting for 88% of phone users, it is imperative they have a safe, secure, truly decentralized wallet to send, receive, and store their cryptocurrencies. We strive for the mass adoption of blockchain and all the benefits it can bring the people,” said Robert Beadles, Monarch Blockchain President.
The Monarch Wallet is gaining traction with the cryptocurrency community at an impressive rate. Increased adoption has to do with the fact that it enables easy use of cryptocurrencies for paying bills. The company has also added LinkedIn Co-Founder, Eric Ly, to its advisory board, consequently strengthening its credibility.
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