News The African Way

Embily Launches Support For DAI and USD Coin

Embily™ global payment network has announced DAI and USD Coins are now available for card users. The addition of support for the popular coins as part of the expansion of the list of available digital currencies aims to improve the overall user experience and convenience for users. 

DAI is a stable coin cryptocurrency that aims to keep its value as close to one United States Dollar as possible through an automated smart contracts system on the Ethereum blockchain. DAI is maintained and regulated by MakerDAO, a decentralised autonomous organisation composed of the owners of its governance token, MKR, who may vote on changes to certain parameters in its smart contracts to ensure the stability of DAI.

USD Coin (USDC) is a stable digital coin pegged to the United States Dollar and runs on the Ethereum, Stellar, Algorand, Solana, Tron, and Hedera Hashgraph system. USD Coin is managed by a consortium called Centre, founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle. USDC is issued by a private entity and should not be confused with a central bank digital currency.

Embily™ finance service supports nine coins, including Bitcoin BTC, Ethereum ETH, Tether USDT ERC-20, USDT OMNI, USD TRC-20, Tron TRC, Binance BNB, USD Coin USDC, and DAI. Embily is operated by BTC2WIRE OÜ.

Сompliance with the PCI DSS 3.2.1 standard is one of the many security features that allow Embily™ to protect customers’ banking data integrity, ensuring that the company complies with international security requirements around transactions and personal cardholder data. 

Embily™ cards holders can rely on their digital currency portfolios to make online and offline purchases using Google Play and Apple Pay. Also, the card can be used for making seamless transactions via POS terminals without any commission. Embily also provides ATM withdrawals at a constant rate of 1.5 euros per withdrawal.

The inclusion of the DAI and USD Coin as top-rated and liquid assets on the crypto market will allow users of Embily™ cards to make payments with greater flexibility.

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