To solve the above problems, SkyPay’s currency (SKYS) will serve as a holding mechanism to enable real-time currency exchange at the point of transaction. By opening the SkyPay Bank, our blockchain powered private exchange and banking network will allow travelers to pay with their SkyPay Debit Card.
Live Exchange Rates
Through the SkyPay App, travelers will be able to exchange any currency (fiat or crypto) for SKYS (or any fiat currency) free of charge. At the time of the transaction with a merchant, the traveler uses the SkyPay Debit Card to convert SKYS (or default currency) into the merchant’s local currency through the SkyPay Bank, with real-time exchange rates.
By grouping the FTFs & CCFs within a unique banking network, SkyPay charges its users a single 0.75% fee per transaction. With a constant demand, and limited supply, SKYS is the perfect asset to perform such transactions, allowing the traveler to invest in his travel, while saving significantly.