Payment platform Flexa has announced the launch of SPEDN, an app that allows users to make purchases with cryptocurrencies at a variety of brick-and-mortar stores. The app works by generating QR codes at checkout registers, which then debit users’ wallets on the app and credit merchants with fiat to initiate payments immediately. Flexa uses FlexaCoin, its native cryptocurrency, as an intermediary before the originating coin’s network approves the transfer.
The Flexa Network Protocol pays the retailer in cash then takes on the burden of moving the coin from a user’s wallet while using the FlexaCoin as collateral. Currently, Flexa supports Bitcoin, Ethereum, Bitcoin Cash and Gemini dollar. The new payment method works at various retail outlets including Nordstrom, Barnes & Noble, Express, Lowe’s, GameStop, Office Depot, Regal Cinemas, and Jamba Juice, among others.