Softbinator Technologies becomes one of the first blockchain providers to accept payment with stablecoins
Softbinator Technologies, a Romanian company offering software development services mainly focused on the blockchain, artificial intelligence and DevOps, announced the implementation in the company of a financial accounting system that accepts payment with stablecoins and thus became one of the first blockchain providers in Romania to accept payment with such cryptocurrencies.
“As we have announced since the IPO, one of the main development goals of the Softbinator group is to become a major global player in blockchain technology. Implementation of a financial accounting system that accepts payment with stablecoins facilitates our cooperation with clients in the blockchain space so that their assets no longer go through a complicated and not at all preferred way before they are registered in our company’s systems. This procedure was sometimes difficult for some of the customers, so we decided to simplify the process and accept payment directly with such assets. With the implementation of this system, our company takes an important leap in the market by attracting potential customers who would otherwise not be able to pay. The opportunity is huge, considering that billions of dollars in the crypto space intended for investment in technology companies are locked up“, stated Daniel Ilinca, Founder and CEO of Softbinator Technologies.
A stablecoin is a cryptocurrency that relies on a real monetary reserve, such as the US dollar, but is not tied to a central bank. Due to belonging to a financial reserve, the value of such a cryptocurrency, hence the name, does not fluctuate and will remain tied to the currency for which it was created. This is a significant advantage for those who own this type of cryptocurrency, compared to Bitcoin or Ethereum, two of the most well-known cryptocurrencies, but which are very volatile.
As for examples of stablecoins, Tether is the most well-known currency of its kind worldwide, with a fixed dollar conversion rate of 1-to-1 with the US dollar. Other examples of stablecoins are Dai, created in 2015 at the level of Ethereum blockchain, or USD Coin, implemented in 2018. As of 2022, Softbinator Technologies has a business development department dedicated to the blockchain field, led by CTO, Marius Baisan, where it aims to generate revenue representing at least 10% of the total revenue from blockchain solutions.
“The the blockchain universe is vast due to the variety of products developed based on this technology, such as on-chain games, NFTs, financial protocols in the DeFi space, and more. For crypto-financed companies, it is often impossible to exchange their assets in a FIAT currency, but it is a few clicks away to make an exchange in a stablecoin. The 1-to-1 parity with the US dollar solves this problem for our clients and us, while opening up new opportunities for us to work with them. We are therefore proud that we have a significant competitive advantage in this field as of today”, stated Marius Baisan, CTO of Softbinator Technologies.
Softbinator Technologies’ dedicated blockchain division has made significant progress in the first six months of the year, even as the cryptocurrency market is going through a downturn. Regarding the upward trend in blockchain and gaming (on-chain games), the company has started a collaboration with an American game development studio to develop a blockchain solution for games created by this studio. At the same time, Softbinator Technologies increased its blockchain team during this period, which led to the company’s active involvement in decentralized finance (DeFi) projects with various partners focused on asset lending. In addition, the Softbinator team was present at the world’s most famous blockchain events in cities such as Dubai, Amsterdam and Paris.
Softbinator Technologies is listed on the AeRO market of the Bucharest Stock Exchange as of December 17, 2021, and trades under the symbol CODE. The company has a market value of over 69 million lei.
