Tuesday, Jan 25, 2022
International Finance
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Lynx announces its metaverse payments strategy

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The platform will allow emerging and existing payment applications to thrive in the metaverse

Lynx Global Digital Finance Corporation recently announced that it is going to extend its financial infrastructure to include support for metaverse-based services, which will allow emerging and existing payment applications to thrive in the metaverse, according to media reports. Since its announcement, tech giants have already started using metaverse to push their growth strategy and Lynx is poised to enable financial inclusion for the digital community through its metaverse financial platform sometime in 2022.

Mike Penner, CEO of Lynx, told the media, “While metaverse is widely discussed across all industries right now, for Lynx, we have always focused on building an inclusive digital economy. The ability to integrate the virtual economy to our legacy financial system is a further opportunity to give access to everyday financial transactions to people, regardless of income level or where they live; for them to expand their own local economy.”

Keeping aside its previous acquisitions and regional operations, Lynx now also has a bank, a crypto license and an electronic money issuer license. Currently, the company will focus on integrating the existing financial payment and infrastructure with a metaverse virtual community. Lynx will also be evaluating the opportunities in the metaverse and has already identified two use cases that will be the focus of its initial product service offerings.

By entering the metaverse, Lynx plans on reimagining the global remittance product by creating digital meeting spaces that will allow a remitter to visit with and communicate with their loved ones while facilitating the transfer of money in a streamlined, entertaining, economical, and secure way. The company believes that by becoming a leading player in metaverse remittances will have long term benefits.

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