MIAMI, Aug. 22, 2019 /PRNewswire/ -- MEDSiS International announced today a new strategic partnership that would bring their "Maxwell" stablecoin into the US and European markets. This new partnership with Ternio, a US based Blockchain and payments company, would add a third (and eventual fourth) currency to the Maxwell suite and close the loop on their Phase 1 planning of bringing in a major currency as a backstop. This comes on the heels of MEDSiS' announcements with WTIA, Argentina, and Brazil for the Q3 and Q4 2019 plans for Maxwell.
"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," comments Joshua Dax Cabrera, CEO of MEDSiS.
The agreement between MEDSiS and Ternio will allow customers to download MEDSiS' mobile wallet, "Control," and register for either a virtual or physical payment card within the continental US. Though this is not uncommon in the marketplace, Ternio's experience with their BlockCard product and MEDSiS' addition of the Maxwell and tens of millions of foreign customers under contract create an ecosystem unlike anything available today. What is more, with Ternio's upcoming entrance into the EU/EEA, MEDSiS will soon be available to customers in more than 34 countries globally.
"This is only Phase 1. 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."
- Joshua Dax Cabrera, CEO of MEDSiS
By achieving KYC (know your customer) compliance and utilizing blockchain ID on the platform, customers in all emerging markets will be able to use blockchain to store values either in other currencies, or in the Maxwell Stablecoin. This will give unlimited possibilities to the more than 25 million customers currently scheduled to be onboarded over the coming months.
"We have worked hard to position ourselves to become the best global tool for true financial inclusion for individuals, companies, unions, and governments. This gives access to useful and affordable financial products [transactions, payments, savings, credit, and insurance] that meet all needs," comments Demetrio Pablo Daniel Clua del Rivero, SVP Business Dev./Dir. LATAM of MEDSiS.
Ternio's involvement is crucial in MEDSiS' plans, as their experience in having a true "CryptoCard" have allowed them to spend cryptocurrencies direct into any merchant transaction. Maxwell will be the latest currency available for the same such benefit. Building on this, customers will be able to link their crypto-wallet, beginning with Maxwell, and spend it as they would spend any other currency around the world.
"We're very excited to be working with MEDSiS and their upcoming plans related to the Maxwell stablecoin. The BlockCard platform will allow customers to spend it anywhere major credit cards are accepted."
- Daniel Gouldman, CEO of Ternio
The partnership with Ternio marks the close of Phase 1, and the upcoming move into 31 EEA (European Economic Area) countries consisting of EU and EFTA states. As MEDSiS begins Phase 2, it will fund and bring to scale their existing contracts in the western hemisphere. With Maxwell and its mobile wallet, Control, available in more than 34 markets starting in 2020, this agreement with Ternio marks the beginning of redefining the banking world, one country at a time.
About MEDSiS: www.medsis.com
MEDSiS is an identity management and big data company that helps countries know their people. Bringing innovative and simple solutions to fix not just financial needs, but instilling in the population, the confidence of leadership while securing the individual's identity. The key to everyone's empowerment starts with their identity. MEDSiS is the first private company to have a government blockchain contract.
For more info, email Press@Medsis.com
About Ternio: www.Ternio.io
Ternio is a blockchain and payments company based in the US that solves the issues related to blockchain scalability and payment utility of cryptocurrency. Ternio supports multiple coins and is the only company enabling users to hold crypto until the point of sale.
For more info, email email@example.com
SOURCE MEDSiS International