Israeli Startup Develops Real-Time Cryptocurrency Converter for Businesses

By Yona Schnitzer/TPS

Israeli start-up Virtual Crypto Technologies Ltd., has unveiled a product that allows businesses to receive real-time cryptocurrency payments – The NetoBit tablet device, which is designed to enable the purchase, sale, and conversions of Bitcoin and other cryptocurrencies via ATMs, tablets, PCs and mobile devices.

The product would allow small businesses, such as restaurants or shops, to accept payment via cryptocurrency, with the business being able to choose between keeping the payments in its cryptocurrency form, or receiving the equivalent amount of fiat from the NetoBit system, protecting the business against the volatility associated with cryptocurrency rates.

According to Alon Dayan, co-founder and CEO of Virtual Crypto, “Virtual Crypto’s objective is to make a unique contribution towards achieving two important global targets, each of which represents a huge market. One is creating blockchain products and services and that are accessible to businesses and users in every industry and second is helping to turn Bitcoin and cryptocurrencies from dormant assets sitting in users’ digital wallets into money that functions like real money that allows making and receiving easy, user-friendly and secure payments in real time.”

Dayan added: “Unveiling the technology that underpins the NetoBit series, which will allow the purchase, sale, and conversion of Bitcoin and cryptocurrencies, is a concrete and clear step toward achieving our vision. NetoBit Cash is just one example of how Virtual Crypto will turn cryptocurrencies into a means of exchange that functions as real money.


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