ZelaaPayAE: Cryptocurrency Payment and Adoption Platform in the Middle East
The ZelaaPayAE whitepaper was released by the core project team in 2020, aiming to address the pain points of large-scale cryptocurrency adoption in the Middle East and promote the integration of crypto assets with traditional payment systems.
The theme of the ZelaaPayAE whitepaper is to build a decentralized and convenient cryptocurrency payment ecosystem to empower seamless transactions in the Middle East. What makes ZelaaPayAE unique is that it enables direct fiat-to-crypto transactions and everyday payments by providing crypto debit cards, POS solutions, and a DeFi platform supporting asset tokenization. The significance of ZelaaPayAE lies in laying the foundation for crypto asset payments in the B2B and B2C markets of the Middle East, and it is committed to promoting ZPAE across multiple business sectors such as retail, automotive, and real estate, thereby significantly lowering the threshold for cryptocurrency usage.
ZelaaPayAE’s original intention is to empower users in the UAE and Gulf Cooperation Council (GCC) countries to easily and conveniently use cryptocurrencies in their daily lives. The core viewpoint outlined in the ZelaaPayAE whitepaper is: by integrating innovative payment tools and decentralized financial services, ZelaaPayAE can build a bridge between traditional finance and the crypto economy, achieving widespread application and adoption of crypto assets.
ZelaaPayAE whitepaper summary
ZelaaPayAE Project Introduction
Wow, friend, so sorry! There is very limited official whitepaper or detailed information available about the ZelaaPayAE project. After diligent searching, I was unable to find its complete whitepaper. Therefore, I will organize a few paragraphs introducing the project based on the currently accessible public information.
Imagine living in a region that is curious about digital currencies but still finds them inconvenient to use. The ZelaaPayAE (ZPAE) project aims to build a bridge in this “digital desert,” making it easier for local residents to use cryptocurrencies. Its core goal is to enable residents of the United Arab Emirates (UAE) and Gulf Cooperation Council (GCC) countries to trade and spend cryptocurrencies as conveniently as they use traditional money.
Specifically, ZelaaPayAE hopes to facilitate the conversion between fiat currencies (such as the local dirham) and cryptocurrencies by issuing a utility token called ZPAE. The envisioned scenario is that you can use ZPAE tokens to make purchases at physical merchants, just like swiping a debit card. To achieve this, they plan to launch crypto prepaid debit cards and point-of-sale (POS) devices, integrating cryptocurrencies into everyday payment scenarios.
The ZPAE token is the core of this ecosystem. According to some public data, there are different statements regarding the total and maximum supply of ZPAE, such as a maximum supply of 2.41 billion tokens, while the total supply may reach 16.76 billion, and the self-reported circulating supply is about 16.6 billion. However, there is also information indicating that the supply is unverified, and on some platforms, the token has not yet been listed on major exchanges or has very low trading volume. This means its liquidity may not be high and price volatility could be significant. The project aims to build a decentralized ecosystem to make financial transactions in the Gulf region more convenient and censorship-resistant.
Important Note: The above information is compiled based on currently available public sources. The cryptocurrency market is highly volatile, and project development is uncertain. This introduction is for educational purposes only and does not constitute any investment advice. Please be sure to conduct thorough personal research (DYOR) and understand the potential risks before making any investment decisions.