Waves Announces Fiat Gateway and Reaches $2 Mark

We are currently experiencing what seems to be a never-ending rally in the cryptocurrency maket that has already propelled the global cryptocurrency marketcap to $89 billion, more than twice it was in the beginning of the month. In the midst of all these developments and excitement, Waves continues to set itself apart in the cryptosphere.

Breaking ATH figures throughout the week and doubling in value, Waves is currently sitting at 2.83$ after breaking through the $2 mark, amassing a market capitalization of $ 280 million (18th place).

Not only is Waves growing in terms of market capitalization, but its community is also getting bigger, and the projects that it houses are growing in number, a factor that brings esposure to the Waves Platform as a crowdfunding and asset issuance tool – Read more.

Most recently, one of Waves’ most awaited features has been released, the fiat Gateway. Currently, only the EUR Fiat Gateway has been released. The Waves official blog post reads:

“Waves lite client v0.4.22a includes support for the Euro Gateway. Just like the bitcoin Gateway, this allows you to move a different currency into the Waves blockchain, then use it as a Waves token (WEUR), holding it, transferring it and trading it on DEX in a completely peer-to-peer manner. You can buy WAVES and tokens for Waves projects like WCT, Incent, MobileGo and EncryptoTel directly for EUR. And there’s no need to move it from the Gateway to the wallet — it’s there already.”

Users can now get verified through the Waves Lite Client by clicking “Deposit” on the Waves Lite Client and sending ID verification. This will allow anyone to make a SEPA transfer and to credit the account with EUR tokens, which are backed by the value of the actual Euro.

These tokens can then be transferred freely on the Waves blockchain, used for remittances for example, and withdrawn by someone else who is also verified on the Waves EUR Gateway. It is also possible to exchange the EUR token for Waves, a Waves CAT asset or another backed token like wBTC on the Waves Decentralized Exchange (DEX) without any kind of counterparty risk.

This system allows users to easily purchase, receive, send, store and trade all in the same place, the Waves Lite Client. Not only that, but once all these fiat Gateways are all implemented we will see another use case for Waves, a blockchain-based forex exchange.

The Waves fiat Gateways are also sure to bring more users onboard towards Waves-based ICOs like MobileGo, EncryptoTel, ZrCoin, Starta , Primalbase and others.

And if these developments don’t give you reason enough to celebrate as a member of the Waves community or simple cryptocurrency enthusiast, then you’ll be happy to know that Waves also has its own Waves Pizza day, May 23rd. Because everything is better when there’s Pizza!

The Pizzeria Gusto DiVino has now began to accept Waves as a payment method and one user has already tried it out! Read twitter.