New Ecosystem Says It Allows Sending and Receiving Crypto or Fiat With No Fees

An upcoming crypto ecosystem has bold ambitions to offer "a much smoother way of moving fiat and cryptocurrency over the internet," enabling people to pay in the fiat or crypto of their choice - whatever the requested currency - without fees.

YPTOspace says it plans to develop a "First-of-its-kind platform that connects blockchain assets to real-world payment platforms," all with the goal to become a one-stop-shop for payments and transactions for consumers and businesses.

YPTOspace wants to create a unifying platform that eliminates middlemen and delays, which can see the public lose money because of the huge swings in volatility seen in the crypto market.

In illustrating the flexibility it ultimately wants to offer its community, the company's white paper says: "Users can send Bitcoin and have them arrive as dollars or euros. Users can make payments in euros, and businesses can receive them as Ethers or the platform's native cryptocurrency - YPTO Coins."

Its team says it wants to combine the benefits of traditional payment systems with the transparency and speed of cryptocurrencies and blockchain, and claims that its platform will be "Revolutionary in that it will be free of fees, with the lowest exchange commissions on the market."

The first is a peer-to-peer trading service that enables users to buy and sell assets in real time through an "Automated and trustless reconciliation and settlement system." It is hoped that this global exchange will offer full transparency with exchange rates, inoculate users against rapid price changes, and make it easy for newcomers to the crypto market to make purchases with confidence.

Back on the consumer side, the banking platform will aim to "Give users the tools to manage every aspect of their financial life," and again, this is going to be geared toward casual audiences.

YPTOspace says its ultimate aspiration is to create a payment solution that allows customers "To pay swiftly and safely with any cryptocurrency," as well as to make its offering as simple as a credit card transaction.

The platform says it plans to offer "Accurate and up-to-date news" on blockchain, crypto assets and fintech trends in a variety of formats, empowering those who are short on time with an opportunity to learn more about trading and investing.

YPTOspace's platform is scheduled to launch in the second quarter of 2019 with a suite of four services, with additional features set to be added by the end of the year and beyond.