PAYMNT Financial, a U.S.-based blockchain fintech startup, announced on Thursday it has acquisition LettucePay, which is a payment technology firm that specializes in cryptocurrency payments. PAYMNT reported that the acquisition makes it possible for its platform to integrate cryptocurrencies as a form of payment at retail locations.
“Launched in 2019, LettucePay is a cryptocurrency app that enables merchants to settle cryptocurrency amounts as USD payments, for minimal transaction fees. Rosa said the PAYMYNT team will integrate LettucePay’s software with its next-generation shopping rewards platform, PAYMYNT Rewards.”
Speaking about the acquisition, Michael Rosa, CEO of PAYMNT Financial, stated:
“Our shopping rewards platform utilizes Stellar Network’s blockchain technology. Approaching the winners of the Stellar Network Community Fund was an easy decision. Together, our team is ready to bring the benefits of blockchain to larger audiences.”
PAYMNT went on to add that in addition to acquiring LettucePay, PAYMNT Financial also welcomed former LettucePay team members, Ari Mizrahi, as full-stack engineer, and Brian Goldberg, a blockchain advisor.
Founded in 2018, PAYMYNT describes itself as a next-generation mobile shopping app. The platform integrates online shopping, digital banking, cryptocurrencies, and peer-to-peer payments into an all-in-one platform.