The Billon blockchain plan to power multi-currency cards
Polish blockchain firm Billon has partnered with Igoria Trade to let its users make payments in 150 currencies.
Billon says it has “civilised” blockchain to build business solutions for real money and smart data. Interesting choice of word – maybe it recited Noel Coward or read poetry to blockchain.
Either way, Andrzej Horoszczak, Billon’s CEO and founder, says the partnership is the “start of a relationship that could see us fully commercialise our distributed ledger technology (DLT) and move from existing individual deployments to a much broader transformation of payments and the banking system”.
Igoria Trade will provide its IgoriaCard, which uses the Mastercard network to deliver an internet transaction system for managing limits, payment history, and enabling currency exchange, in both a plastic and virtual form.
The Igoria-issued cards will be held in electronic form on Billon’s blockchain platform, enabling payments in bricks-and-mortar stores, including the use of NFC payments and card-not-present transactions in e-commerce.
Transactions made using the card will be funded with e-money held using Billon’s blockchain.
Igoria Trade was founded in 2011 by a team of banking professionals in Warsaw. The company also offers services like transfers or escrow accounts. It is listed on the Warsaw Stock Exchange, NewConnect.
Founded in 2012, Billon has a team of more than 100 staff across its offices in the UK, US and Poland. One of its ready solutions was awarded a Horizon 2020 grant, the EU’s biggest research and innovation programme.