Bitcoin News Today: Merchants Slash Costs with SpacePay's 0.5% Crypto Fee

SpacePay's $SPY token is gaining traction as a top choice for crypto users seeking real-world utility, offering a streamlined solution for merchants to accept digital currencies through existing card machines with a 0.5% transaction fee and instant fiat conversion. Unlike many crypto projects that prioritize speculative gains, SpacePay has focused on solving the long-standing challenge of crypto adoption: enabling seamless, low-cost transactions for everyday commerce.

The London-based startup's platform leverages Android-based point-of-sale (POS) terminals already in use by merchants, requiring only a software update to enable crypto payments. This approach eliminates the need for new hardware or complex integration, allowing businesses to continue using familiar interfaces while customers pay via their preferred wallet apps. The system supports over 325 digital wallets and instantly converts crypto to stable currency, shielding merchants from price volatility. For example, a $30,000-per-month small business could save up to $1,050 in fees compared to traditional processors, which typically charge 2-4% per transaction.

SpacePay's presale has already raised over $1.4 million, reflecting strong demand for a solution that bridges the gap between crypto ownership and practical use. The platform's technical progress includes the launch of its SpacePay One Testnet, with a functional payment API operational on Base Sepolia and Ethereum Sepolia networks. This public testing phase allows developers and users to refine the system before a broader rollout. The team has also prioritized regulatory compliance, addressing a key barrier to adoption for businesses.

Token economics further bolster the project's appeal. The $SPY token, currently priced at $0.003181 during the presale, is allocated across 34 billion total supply, with 5% reserved for founders. Holders gain voting rights on platform developments, receive monthly rewards, and benefit from revenue sharing tied to real transaction volumes. This model contrasts with speculative tokens, creating a sustainable revenue stream from actual usage rather than relying solely on price appreciation.

The broader crypto landscape underscores the need for such solutions. While global crypto adoption continues to grow—31% of Australians now use digital currencies, for instance—many projects remain stuck in speculative cycles. SpacePay's focus on merchant and customer utility aligns with trends like stablecoin usage ($46 trillion in annual transactions) and institutional expansion into crypto services. However, the industry also faces challenges, including regulatory scrutiny and emerging threats like AI-driven cybercrime.

Critically, SpacePay's approach mirrors broader efforts to integrate crypto into traditional financial systems. For example, London-based Tap Global recently added London BTC as a client for its bitcoin treasury services, highlighting growing institutional interest in crypto infrastructure. Similarly, BitMine Immersion's $14.2 billion in combined crypto and cash holdings reflects a shift toward treating digital assets as strategic reserves.

Best Crypto to Buy for Practical Payments? SpacePay's $SPY Token Is a Top Choice https://blockonomi.com/best-crypto-to-buy-for-practical-payments-spacepays-spy-token-is-a-top-choice/