The CryptoBucks platform was created to become the PayPal of cryptocurrency: an accessible point-of-sale platform that allows merchants to accept cryptocurrency. At the Bitcoin 2022 conference in Miami, CryptoBucks launched their own cryptocurrency exchange. CEO Eric Brown also joined Roundtable to discuss the company, the exchange, and the future of point-of-sale crypto payments.
Brown explained that CryptoBucks simplifies the crypto payment process for merchants who may not want to deal directly with the currency.
"We built a product that enabled a merchant to accept cryptocurrency," he said, "but we would do an auto conversion at point of sale, so they wouldn't have to deal with the volatility and they wouldn't have to deal with the actual movement of crypto."
The exchange, meanwhile, would serve as a platform for merchants who use CryptoBucks.
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"Consumers can interact with cryptocurrency, buy, sell, transfer, newsfeed, see live price feeds—and also interact with our merchants on cryptocurrency as well," Brown explained.
Brown anticipates that the blockchain's efficiency, compared to traditional payment platforms, will continue to attract industries seeking better payment solutions. To that end, CryptoBucks has launched a product that allows users to add CryptoBucks as a backend processor for existing platforms.
He continued, "You'll have a software company, let's say their niche is the airline industry, and they're doing all the payments and the logistics and the invoicing. They can now use us as an alternative payment product and add cryptocurrency very easily. We do everything in the background. But we give that software company the look and feel of their own product."
Eric Brown, CEO, Cryptobucks