CryptoVerse is a digital payment platform that allows users to pay at participating merchants using their virtual cryptocurrency wallet within the Binance app. Additionally, these merchants receive payment in their local currency.
"Once, in early 2022, I wanted to make a purchase, but I had forgotten my wallet. So I had no cash or cards, and my cell phone was the only thing I had on hand. While wondering if there was a way to pay with my phone, I remembered I had cryptocurrency, so I thought, ‘If they’re currencies, why couldn’t I use them to pay?’ This situation gave us the initial impetus to create CryptoPagos, the first service from CryptoVerse," says Matías Bombi, a student pursuing a Bachelor’s degree in Systems and the company’s Chief Executive Officer.
The team also includes Martín Edelman, Chief Technology Officer and a student pursuing a bachelor's degree in Information Systems, and Mathías Silva, Chief Operating Officer and a student pursuing a bachelor's degree in Economics.
Crypto Payments
"The tool acts as an intermediary between the customer and the merchant. We wanted people to start using it right here on campus. It’s a way to encourage other students," says Matías. Currently, the payment service is active at the cafeteria on Universidad ORT Uruguay Central Campus Universidad ORT Uruguay Infinito Coffee); it is also possible to purchase Rebelión, the first Uruguayan non-alcoholic craft beer, from the Fermtech startup, which is also incubated at the CIE.
In addition, CryptoPagos can be used for home rentals, cell phone repairs, and the sale of accessories at various retail locations in the Maldonado department.
"We expect to be available in more than 50 stores by next month."
Crypto Exchange
CryptoExchange is a cryptocurrency exchange where users can buy and sell at the best prices, even without owning awallet.
The process is simple: users interested in purchasing cryptocurrency should visit the company’s website, enter their name, phone number, the amount of cryptocurrency they wish to buy, and the currency they will use to pay. They must then schedule an appointment by selecting a date and time. Once the appointment is scheduled, they should go to 1908 Rondeau Avenue, where CryptoVerse’s offices are located, to complete the transaction.
"The ORT Center for Innovation and Entrepreneurship is undoubtedly the best place to start your entrepreneurial journey. You'll find people there who can advise you and help you turn your idea into a reality."
The Future of CryptoVerse
Matías, Martín, and Mathías plan to continue developing the app’s features over the long term, with the aim of expanding the company’s reach beyond cryptocurrency payments: “In addition to launching a CryptoCard in the future, our goal is to bring CryptoPagos to the rest of Latin America and also accept international payments.”
They also see potential in developing various services related to the crypto world, such as courses on how to use cryptocurrency, Real Estate NFTs (owning a type of real estate through a non-fungible token ), and Cloud Mining (mining cryptocurrency without having to buy it), among others.