More than 500 new acceptance points for Bitcoin, Dash & Co.

Following a successful launch in December 2018, Salamantex enters the next phase and enables crypto payments in more than 500 stores in Austria and Malaysia.

The Austrian Fintech Salamantex launched the development of a payment system for cryptocurrencies just over a year ago under the slogan “the easy way for crypto pay”. “Our goal was to create a simple solution for paying with cryptocurrencies in normal shops,” said René Pomassl, founder and CEO of the now internationally operating startup from Austria.

According to Pomassl, the idea for Salamantex arose out of necessity, because acceptance points for cryptocurrencies are rare, at least in central Europe.  A nuisance, because unlike the coverage – that is mainly driven by price gains and losses – suggests, most fans of Bitcoin, Dash and Co. do not care as much about the speculation with the new asset class.

It is much more important for most crypto enthusiasts to be able to use the alternative money as well. Of course, this also includes payment transactions in daily life such as at the supermarket checkout or in the restaurant. And that’s exactly where Salamantex comes in.

Salamantex Device SX1801

Like a traditional credit card terminal, the Crypto Payment Terminal SX1801 can be connected to a merchant’s existing POS system and provides a complete report of all bookkeeping payments at the end of each month. The complete package of hardware and software also helps its users with the tax challenges that come with the acceptance of crypto currencies as a means of payment. In addition, Salamantex offers an optional conversion from cryptocurrency to Euro, so that the merchant can accept payments with, for example, Dash, but receives Euros in his account. “We think this feature will make it much easier for many traders to enter the world of cryptocurrencies,” says Pomassl. Currently, the high volatility of cryptocurrency still deters many shopkeepers, the direct exchange to euros could thus ensure a faster increase in acceptance points.

Salamantex Dash

Despite volatility, according to a study conducted by the ING in June 2018, 23% of Europeans can already imagine paying their coffee with cryptocurrencies in the future. Jan Heinrich Meyer, founder and CEO of Dash Embassy D-A-CH, also welcomes the development: “Companies like Salamantex will ensure that the adoption of cryptocurrencies is progressing faster than many currently suspect.”

From 18.01.2019 Salamantex will support Bitcoin as well as Dash and other coins. Dash, since it is currently the most appropriate for the POS use case: “With a sub-2-second verification period and fees below 1 cent, Dash is currently one of the most promising solutions for our purposes.”

By the end of March, Salamantex will allow cryptocurrency payments in approximately 150 shops and restaurants in Austria and approximately 350 acceptance points in Malaysia. An increase of acceptance points as well as further expansion into European countries are already in planning.