The banking industry has changed dramatically, creating a culture of self-service using ATMs. Automated teller machines have given people the ability to spend their money. The most common cases included improvised purchases, making bank transfers, spending more money on recreational activities, and withdrawing cash after banking hours. The result was an improved consumer experience that made a complex set of transactions more accessible.

Today, people are beginning to move from a cash economy to a larger banking system focused on credit and debit cards and similar offerings. Now that the world has moved away from cash, there are new ways to use it in the economy, many of which include digital currencies. The only gap that has yet to be bridged is the use of cryptocurrency for everyday use, which lacks the same realism as the ATM.

In response to this current gap in the market, Thailand-based Wanda Exchange has set out to make cryptocurrency more popular with its cryptocurrency solution, which is currently undergoing patent applications in Asia, Europe and the Americas. Any user can choose an ATM to send cryptocurrency online through the team’s online application; The cash equivalent will then be available at the selected cash collection point, a process designed to enhance the convenience level of the digital currency user.

Under this model, the original Wanda Exchange WE token will become an important core component with lower rates compared to other cryptocurrencies. Users benefit from reduced fees, which are approximately 50% lower for cash payments or withdrawals in WE compared to other currencies.

Wanda Exchange recently made the decision to become more independent and is currently in the process of acquiring its cryptocurrency in the European Union to offer virtual currency to the fiat exchange. With the new cryptocurrency exchange, funds are fully secured and a completely new infrastructure is used, especially for cash transactions and off-road transactions with cryptocurrencies. This solution will allow cryptocurrency users to receive funds or buy cryptocurrencies directly without resorting to banks as intermediaries.

It works differently
Wanda Exchange started development differently than most, first developing the project and then creating the token. Their work started in 2018 with software used by several partners in Thailand.

In previous posts, the WE platform token has been upgraded along with the Gokumarket listing. Unfortunately, after these first releases, the team took a different path, becoming a victim of a scam.

In February 2022, Wanda exchange noticed that their tokens from liquidity, marketing, private wallets, betting and other incentives had disappeared from the exchange, and the Pancakeswap (CAKE) tokens were dumped and transferred to CAKE to the hot Binance wallet. Since then, the team has contacted the US Securities and Exchange Commission, Hong Kong Financial Services, the Financial Bureau, the Hong Kong Police Force and the Estonian Ministry of Finance to investigate the activity.

To protect its community from potential withdrawal complications, Wanda Exchange is abandoning GokuMarket to purchase WE tokens. Alternatively, users can still purchase WE tokens on PancakeSwap and soon on their own exchange. Since then, Wanda Exchange has decided to become more independent by opening its exchange license to Europe, giving them access to all parts of Europe, including the UK and Switzerland. Because of these recent incidents, the company is asking all individuals who still have funds in Gokumarket to contact Wanda for information about participating in the class action.

More information about WANDA exchange
Despite the failure, the Wanda exchange continues to fulfill its mission to “connect traditional finance with cryptocurrency and people who have crypto with those who don’t.” Processes.”

The solution is now in its final stages and is ready to connect merchants to the Wanda ecosystem as a Wanda Exchange partner and provide people with more cryptocurrency outlets.

Online cash exchange support
The company shares plans for the future, which include successfully connecting hundreds of cash points to point-of-sale systems, which will be accompanied by reservation systems with a fully functional app.

Source: CoinTelegraph

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