Sparta Launches Cryptocurrency Payment Platform
Sparta Commercial Services (OTC PINK: SRCO) launched SpartaPayIQ, a payment gateway for businesses to accept cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
Settlements can be made in USD or EUR, with options to retain cryptocurrency. The system utilizes blockchain technology to stabilize exchange rates for 15 minutes post-invoice creation, reducing volatility risks.
This launch marks Sparta's entry into the cryptocurrency sector and is part of a broader strategy to introduce additional cryptocurrency products in the future.
- Launch of SpartaPayIQ payment gateway expands business opportunities in cryptocurrency.
- Allows businesses to mitigate cryptocurrency volatility risks by locking in exchange rates.
- Plans for further cryptocurrency product development indicate growth potential.
- None.
NEW YORK, NY / ACCESSWIRE / March 3, 2022 / Sparta Commercial Services, Inc. (OTC PINK:SRCO) ("Sparta" or "the Company") announces the launch of SpartaPayIQ™ (www.SpartaPayIQ.com), a payment gateway that allows businesses to accept cryptocurrencies. The platform enables businesses to accept Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, and USDT as payment while settling in USD or EUR. Businesses also have the option to keep the cryptocurrency if they don't want to immediately convert it.
SpartaPayIQ™ uses contactless, blockchain-based payment processing technology to instantly convert cryptocurrency payments to USD or other select fiat currencies. This mitigates exposure to market volatility by locking in an exchange rate for fifteen minutes after an invoice is created, guaranteeing that all parties are protected from unpredicted market swings.
SpartaPayIQ™ establishes the Company's entry into the dynamic cryptocurrency space. Sparta plans to unveil another cryptocurrency product in the coming months and SpartaPayIQ™ will be an integral part of this new product. The platform will also be offered as a payment method on Sparta's other retail sites, including New World Health Brands CBD (www.nwhbcbd.com) and Cyclechex (www.cyclechex.com).
Anthony Havens, Sparta's CEO, explains, "This is a milestone for the company. SpartaPayIQ™ provides a simple solution to a complex problem: How can businesses interact with cryptocurrency users while working with employees and vendors that have traditionally been paid in US Dollars?" SpartaPayIQ™ will operate under Sparta's subsidiary, SpartaCrypto, Inc.
About Sparta Commercial Services Inc.
Sparta Commercial Services, Inc., (www.spartacommercial.com), was founded in 2004 and is the parent company of three subsidiaries: iMobile Solutions, Inc., New World Health Brands, Inc. and Sparta Crypto, Inc., offering a variety of products and services.
Sparta's Municipal Financing Division (www.spartamunicipal.com) offers and administers a specialized municipal financing program for local and state agencies with jurisdictions seeking a better way to finance their growing essential equipment needs such as police motorcycles and cruisers, EMS equipment and busses, and any type of equipment a municipality requires.
iMobile Solutions, Inc., via its iMobileApp product (www.imobileapp.com), develops and services custom mobile apps for a wide range of businesses including restaurants, liquor stores, racetracks, and clubs; as well as vehicle dealerships including Harley-Davidson® and John Deere. Other mobile communications products offered include website design, development, hosting and SEO services, and a text messaging and alert service.
Other products offerings of iMobile Solutions, Inc. include comprehensive vehicle title history reports for motorcycles (www.cyclechex.com), recreational vehicles (www.rvchex.com) and heavy duty trucks (www.truckchex.com). The reports have been purchased in all 50 states and 61 other countries, and viewed by potential customers in over 125 countries.
New World Health Brands, Inc. offers offer a full array of wellness products such as supplements including Zinc, Magnesium, Boron, Iodine, Beetroot Extract, and more on its B to C website (www.newworldhealthbrands.com) as well as hemp-derived CBD products that include oils, topicals, capsules, tablets, and pet tinctures (www.newworldhealthcbd.com).
Sparta Crypto, Inc. has launched its first product, SpartaPayIQ™ (www.SpartaPayIQ.com), a payment gateway that allows businesses to accept cryptocurrencies, and has another product in development that will be formally announced at launch.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.
Company Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com
SOURCE: Sparta Commercial Services, Inc.
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FAQ
What is SpartaPayIQ?
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