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Tectum is without a doubt one of the hot stories in crypto this week. An altcoin with a lot of utility behind it was lagging in the last few months. However, the TET price is now up 70% this week and trading well-above $8.6.
Softnote’s news likely contributed to this price pump. This is another example that indicates utility projects are “waking up”.
Apple’s Game-Changing NFC Decision
Following Bloomberg’s report last week, it’s clear that Apple is finally unlocking its tap-to-pay function for third-party developers. This move, set to coincide with the iOS 18.1 update in mid-September and the launch of iPhone 16, could change how the mobile payment landscape works.
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For years, Apple has resisted pressure from regulators, particularly the European Union, to open up its NFC feature. The tech giant cited security concerns, but critics argued the real reasons were more financial. After all, Apple Pay’s monopoly on NFC payments has been a significant revenue stream for the company.
Enter Softnote Pay
This is where Tectum’s Softnote Pay comes into play. As a virtual card internal payment system, Softnote Pay is perfectly positioned to capitalize on this new opportunity. Unlike Apple Pay, which is limited to certain countries and banks, Softnote Pay offers global accessibility. Whether you’re in the North Pole or a remote village in South America, this virtual card is at your disposal.
One of Softnote Pay’s most attractive features is its fee structure. By capping transaction fees at $1, it potentially offers significant savings compared to traditional payment methods.
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Merchants, too, stand to benefit from Softnote Pay’s user-friendly approach. With a mere 0.1% commission for businesses, it presents an attractive option for those looking to reduce transaction costs.
How Tectum is Enabling People to Own and Spend Crypto
Wouldn’t it be nice to be able to spend your crypto in ways that you want to?
With the Softnote you can!🔹Simplifying Transfers
🔹Cheapest Gas Fees
🔹Instant Transfers
🔹Unrestricted Global Payments
🔹Enabling the Use of… pic.twitter.com/Qzecb3OF0B— Tectum (@tectumsocial) August 21, 2024
Moreover, Softnote Pay isn’t just limiting itself to fiat currencies. It already supports major cryptos like Bitcoin, Ethereum, and Tether USD, with plans to integrate more in the future, including Solana.
Tectum’s Technology
What really sets Tectum apart is its impressive blockchain technology. Recent speed tests have shown that Tectum Softnote can handle transaction volumes comparable to regular banking systems. Even more impressive is its capacity to support up to 3.5 million transactions per second, with instant processing.
Source: softnote.com
This level of scalability positions Tectum not just as a crypto payment solution, but as a potential partner for traditional payment gateways looking to scale their operations.
As Apple rolls out this program in Australia, Brazil, Canada, Japan, New Zealand, the USA, and the UK, all eyes will be on how Softnote Pay and other crypto payment solutions adapt and integrate with this new opportunity.
In the words of Apple’s spokesperson, “authorized developers who meet certain industry and regulatory requirements and commit to Apple’s ongoing security and privacy standards can access the system”. It remains to be seen how Tectum will navigate these requirements, but the potential for growth is undeniable.
To sum it up – one thing’s clear: the lines between traditional finance and crypto are blurring. With projects like Tectum’s Softnote potentially tapping into millions of iPhones worldwide, we might be witnessing the early stages of a payment revolution.
Whether this pump is just the beginning or a temporary spike, only time will tell. But for now, Tectum holders are enjoying the ride that might continue in the upcoming weeks and months.
