MEDSiS International has formed an alliance with US-based blockchain and payments firm Ternio for the launch of Maxwell stablecoin in the country as well as in Europe.
The partnership is intended to add a third currency – the US dollar – to the Maxwell suite, along with a fourth currency – Euro – in the future. This will complete the company’s planned Phase I for offering a major currency as a backstop.
MEDSiS recently collaborated with World Token Issuing Alliance (WTIA), Argentina and Brazil to support its future plans for Maxwell stablecoin.
MEDSiS International CEO Joshua Dax Cabrera said: “Though we’ve been focused on Argentina and Brazil, our goal was always to have a partnership with the US and launch with the dollar. Ternio is the partner we’ve been searching for.”
As part of the alliance with Ternio, customers will be able to use MEDSiS’ mobile wallet Control to opt for a virtual or physical payment card in the US.
The partnership is expected to be supported by MEDSiS’ customer base, along with Ternio’s upcoming foray into the European Union (EU)/European Economic Area (EEA) region.
Ternio has previous experience with CryptoCard for allowing direct spend of cryptocurrencies into any merchant payment.
Leveraging this approach, customers can link their crypto-wallet, initially Maxwell, and spend it similar to any other currency worldwide.
Customers will be using blockchain to store values either in the Maxwell Stablecoin or other currencies.
Cabrera added: “This is only Phase I. We always knew that we had to triangulate and add three currencies, but we already have several more in negotiations, opening up Africa and the Middle East in the next few months.”