Sparta Commercial Services (OTCMKTS: SRCO) is stepping into the blockchain boom by launching SpartaPayIQ, a payment gateway that allows companies to accept cryptocurrency.
SpartaPayIQ’s launch is SRCO’s first step into the cryptocurrency market and serves as a milestone in the company’s evolution.
The firm seems to be showing its commitment to– and interest in –the blockchain and Web 3.0 market.
About SRCO’s SpartaPayIQ
-SpartaPayIQ is “designed to provide the infrastructure that enables mainstream cryptocurrency users to interact with small and growing businesses.”
-Sparta Commercial Services (OTCMKTS: SRCO) customers can use SpartaPayIQ to accept cryptocurrencies through their established payment gateways.
-SpartaPayIQ allows customers to accept the following cryptocurrencies:
· Bitcoin
· Ethereum
· Bitcoin Cash
· Litecoin
· Dogecoin
· USDT (Tether)
-Once collected, SpartaPayIQ customers can choose to settle these payments in USD or Euros instantly.
-SpartaPayIQ customers can also decide to keep the payments in the cryptocurrency they were received.
Speed Matters When Settling/Converting Cryptocurrency to USD/EUR
-SpartaPayIQ allows customers to settle payments in USD or Euros instantly so that no value is lost.
-Fluctuating and sometimes volatile cryptocurrency values pose financial risk to firms seeking to settle. A $1,000 purchase can become worthless in a matter of minutes or even seconds if cryptocurrency exchange rates suddenly shift.
-SRCO allows customers to lock in the exchange rate for 15 minutes after an invoice is created.
-This exchange rate guarantee serves to protect not only SRCO’s customers, but its customers’ payors as well.
Crypto and the Future of SRCO
-Sparta Commercial Services (OTCMKTS: SRCO) has confirmed plans for future cryptocurrency products that are already slated for launch.
-While it may be SRCO’s first foray into crypto-payments, SpartaPayIQ will not be a standalone product. SRCO’s new products will integrate with SpartaPayIQ and will use it as a key feature.
-SpartaPayIQ will also be used in SRCO’s existing retail businesses, New World Health Brands CBD and CycleChex.
-Sparta Commercial Service CEO Anthony Havens marked the launch by speaking to the mission of the product and the problem the company aims to solve, “This is a milestone for the company. SpartaPayIQ™ provides a simple solution to a complex problem: How can businesses interact with cryptocurrency users while working with employees and vendors that have traditionally been paid in US Dollars?”
Who is Sparta Commercial Services, Inc.?
-Sparta Commercial Services, Inc. has traditionally been known for its consumer and municipal financing to powersports, recreation, and automobile industries.
-More recently, SRCO has added a wide range of technology products and services. Its subsidiaries include:
· CycleChex.com, RVChex.Com, and TruckChex.com, and CarVINReport.com, which provide motor vehicle history reports.
· iMobileApp.com
· SpartaMunicipal.com
· NewWorldHealthCBD.com, which offers cannabidiol products
SRCO as an investment
-Currently trading at $0.1639 per share, SRCO’s price has doubled in the last six months.
-With a market cap of $2.5 million, the firm does have a proven track record it can throw around in the new and growing world of Web 3.0, cryptocurrency, and metaverse-adjacent technologies.
-Investors could see SRCO as a stock that gets them close to cryptocurrency without being subjected to the up-and-down prices of different coins.
-SRCO’s value isn’t based on cryptocurrency prices. Rather, it is based on the service it brings to customers looking to convert payments from crypto to USD.
-SRCO could be a stock to keep an eye on for investors ready to join the Web 3.0 buzz or who want a potential taste of the crypto market without the history of volatility.
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