IHC crypto is now used for in-store payments

In the future, the company plans to include ATMs, an IHC debit card, an on-chain wallet application, and more.

PHILIPPINES, March 31, 2022 /EINPresswire.com/ — Customers in Mongolia are now using a novel crypto asset, IHC (Inflation Hedging Coin), as a stake for legal tender in tens of thousands of participating organizations and businesses. The crypto asset was designed as a hedge against inflation, achieved through a sequence of ‘burns’ or the deliberate delimitation of supply, but is now proving to be much more than a useful part of an investment portfolio. The IHC Payment channel was developed in concert with MongolChat LLC, one of the leading tech companies in Mongolia, a country that has benefited from a benign regulatory environment for decentralized finance.

When someone buys goods using IHC, the digital currency will automatically trade on the X-Meta crypto platform and converted to MNT, the local fiat currency, at that moment’s rate. That way, the receiving organization takes only MNT in their bank account, which is legally accepted.

Using the IHC crypto in-store or purchasing online means scanning a QR code – it’s incredibly quick, and the fees are low. “For customers, buying with IHC is as easy as using a visa card,” say the developers. Real-world retail applications for a crypto token are unprecedented in the region, and it’s just the beginning.

“So we’ve made it as simple as possible,” says the IHC team. “Using X-Meta, our exchange platform, powered by Binance Cloud, you’ll be able to purchase IHC with a few clicks and take advantage of our low transaction fees. If you buy IHC but don’t use it right away to purchase goods, you can always treat it as an investment and enjoy staking or profit-sharing on the platform. Then simply download the Mongol Chat app, scan the QR code in the shop to pay, and choose IHC as your currency.”

IHC holders are delighted that they have yet another feature to enjoy, as Ih Bit LLC, the founder of the IHC token, continues to make strides towards exploiting the full benefits of a decentralized finance model. In the future, the company plans to include ATMs, an IHC debit card, an on-chain wallet application, and more.

The IHC token has punched above its weight from its inception. Its IEO raised USD 10 million in 30 seconds, then stabilized after reaching 2500 percent at its highest peak. The Ih Bit team has also made some shrewd alliances and investments, partnering with the Yamzu Gaming Platform, heavyweight challenger Deontay Wilder, and Binance, the world’s leading crypto exchange. They also sponsor an e-sports team and a famous first division local basketball team named the Apes. In addition, IHC recently won the Hottest Crypto Awards from BitGlobal and Apeswap – all in six months.

However, this last accomplishment–using crypto for in-store payment–transcends the traditional trading confines of digital currencies and is seen as a gamechanger. The token’s reputation as leading crypto fighting inflation is thoroughly enhanced by this practical application, as IHC continues to show the way, establishing new standards in the rapidly evolving world of decentralized finance.

If you have any questions about the Inflation Hedging Coin, please email enkhmaa@ihcoin.io.

Emma Erdene
Ih Bit LLC
+976 9545 1210
email us here
Visit us on social media:
Facebook
Twitter
Other