Startup Spotlight: TxPay Is On A Mission To Enable Easy Web3 Payments In The UAE (And The Rest Of The World) – Entrepreneur

Startup Spotlight: TxPay Is On A Mission To Enable Easy Web3 Payments In The UAE (And The Rest Of The World) – Entrepreneur

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Buying non-fungible tokens (NFTs) with fiat money may have not become commonplace yet, but Dubai-based startup txPay is on a mission to achieve just that. "txPay provides a turnkey payment infrastructure solution that enables direct credit card payments towards any kind of smart contract and seamless settlement of digital assets and services," explains Stefano Gaspari, co-founder and CEO of txPay. "Smart contracts and blockchain enable the next revolution in the software industry. Today, such technologies have not yet been mass adopted by the public due to its complicated nature. We acknowledge the future of such technology, and we are committed to developing fintech solutions that facilitate and accelerate public access to it."

txPay

Stefano Gaspari and Mohamed Mosbah, co-founders, txPay

If you find your brows furrowing slightly while reading this, let me attempt to explain the technologies at play here. In the world of Web3, smart contracts are simply programs stored on a blockchain that run when predetermined requirements are met. Now, NFTs are digital assets that are powered through smart contracts- information regarding ownership and NFT transaction are stored on a smart contract. The txPay platform, which was launched in December 2021,