Paytaca, Inc., a homegrown financial technology business, has just reached a significant new benchmark by successfully raising more than 7.5 million pesos in an equity-free pre-seed fund through a decentralized crowdfunding platform.
Paytaca is a bitcoin wallet program that does not perform custodial functions and promotes the wider usage of cryptocurrency for remittances and payments. The wallet is currently being developed into a “super app” that will include aggregated services such as meal delivery, cab-hailing, and other such services in addition to bill payment and mobile reloading capabilities. Additionally, it makes it easier to swap tokens and have access to decentralized finance (DeFi) services by utilizing connections provided by web 3.0.
“As cryptocurrency is starting to gain traction in the Philippines, the team slowly developed the app into a crypto mobile wallet, adopting Bitcoin Cash (BCH) as its main cryptocurrency for its cheap and fast transactions, making it suitable for micropayments,” stated Dr. Joemar Taganna, the President and CEO of the company. Taganna was quoted as saying that “as cryptocurrency is starting to gain traction in the Philippines, the team slowly developed the app into a crypto mobile wallet.”
Paytaca is now available on Google Play and the Chrome Web Store, and it has been tested by hundreds of users in key countries for the adoption of cryptocurrencies, such as the Philippines, Nigeria, the United States of America, Argentina, and other countries. Testers have, for the most part, provided encouraging comments, and they are looking forward to seeing the app reach its full potential.
According to Paytaca Marketing Director Aaron JP Almadro, “With this pre-seed funding, Paytaca can now start a more aggressive campaign for user growth and the inevitable introduction and adoption of BCH as a payment option to merchant services via the app.”
The organization was able to generate capital by utilizing Flipstarter, which is a non-custodial crowdfunding platform that is driven by Bitcoin Cash. It was established so that members of the BCH community might voluntarily contribute money to sponsor various projects. Up to this point, the community has contributed no less than three million United States dollars to more than one hundred campaigns, including the one that Paytaca has recently launched that was a success.
