On 11th July Flubit Limited announced that they will start building their online marketplace ‘Flubit.com’ which will accept almost all the cryptocurrencies as payment. The startup has partnered up with MonetaryUnit, a blockchain technology company.
Bertie Sephens, the Co-Founder of Flubit believes that the partnership will give the retail sellers who are on their platform a bigger playing field. It also opens up several avenues to grow their businesses. He stated:
“This agreement is a big win for our current and future sellers. MonetaryUnit have shown us there’s a new and thriving untapped market of customers who are looking to spend their digital assets in the same way they would their traditional fiat currency. This allows us to lead our sellers safely and risk-free into this emerging market, empowering them to reap the benefits with safety in the knowledge they need only deal in pound sterling”.
Flubit sees a large footfall mostly in the European markets with statistics showing that the marketplace has over 3 million shoppers in 2017. The implementation of cryptocurrency in the shopping sphere will allow a lot more holders to find practical real-world applications for their cryptocurrencies.
The platform was launched in 2012 and has been successful in generating over 100 million pounds in the retail sector. Bryon Barnard, the Founder of the Monetary Unit gave his opinion on the partnership too, saying:
“We’ve been working with Flubit for over 18 months to make sure together we can offer a truly ground-breaking project.”
The coming months will see a hectic schedule for Flubit as it plans to undertake a complete overhaul to make sure they fully utilize MonetaryUnit’s blockchain technology. This will enable all the shoppers to make use of their crypto assets.
Furthermore, Stephens said:
“A highly committed and dedicated team enabled us to reach this point, including the incredible backing and support of our shareholders. This deal is both a testament to the years of hard-work endured by so many, but also sees the first stepping-stone in allowing the technology and relationships we’ve forged to not only continue to be the independent leader in the UK, but worldwide too”.
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