DLTPAY Acquires Cask Protocol Assets to Make Recurring Payments in Stablecoins Faster and More Reliable
TALLINN, Estonia, January 15, 2024 (Newswire.com) - In a strategic move to enhance its stablecoin payment solution, DLTPAY, a provider of a non-custodial stablecoin wallet, today announced the acquisition of assets from U.S.-based Cask Protocol LLC, a developer of technology for powering money flow automation in Web3.
This acquisition is complemented by the appointment of Cask Protocol co-founders, Matt Brickley and Mike Machado, as advisors, marking a significant step in DLTPAY's journey to develop a comprehensive recurring payment solution for SaaS products, content creators, and online communities.
Cask Protocol, a winner of the Transak ETHDenver 2022 Hackathon, has been focused on the on-chain management of recurring payment subscriptions between a consumer and a service provider, in addition to generating yield for all parties. The integration of these assets into DLTPAY's existing infrastructure is expected to enhance the ease and efficiency of stablecoin transactions, particularly in recurring payment scenarios.
“With the acquisition of Cask Protocol's assets and the addition of Matt and Mike to our advisory board, DLTPAY is strategically positioned to increase its presence and market share in the stablecoin payments landscape,” said Kenneth Kumor, CEO of DLTPAY. “Their expertise in Web3 financial mechanisms will be crucial as we develop and refine our solutions for recurring payments, directly addressing our users' needs.”
This collaboration will lead to the fusion of Cask Protocol’s advanced smart contract technology with DLTPAY’s secure and user-friendly stablecoin wallet services, aiming to establish a versatile and reliable payment platform. This platform is designed to meet the diverse demands of the online payments & e-commerce ecosystems, providing seamless transaction experience.
Matt Brickley and Mike Machado bring a wealth of knowledge and experience in Web3 technology and financial automation, making them valuable assets to the DLTPAY advisory team. Their expert advice will be instrumental in driving the improvements of DLTPAY's core platform, focusing on automation and improvements in user experience.
DLTPAY assures all existing customers and partners of Cask Protocol a seamless integration process, with continued and enhanced support as these new features are integrated into the DLTPAY framework. For more information about DLTPAY’s approach to recurring payments following the integration of Cask Protocol, please visit https://www.dltpay.com.
About DLTPAY
DLTPAY specializes in developing payment solutions for the digital finance sector, with features that include recurring stablecoin payments, cross-chain swaps, and the ability to stake USDC to earn +5% yield from U.S. treasury bills; proudly backed by Techstars, Cointelegraph Accelerator, and Chainlink Labs.
Source: DLT Payments OÜ
