Article by: Alistair Johnston
V-Day is finally upon us.
The long-trailed partnership which will “forever change” crypto is just hours away from being announced and speculation is boiling over as to who might be the mystery partner, previously described as “a household name”.
Some had worried that the announcement, already delayed from the 26th March, might be pushed back again, but according to Verge everything is on track.
Lead developer Justin “Sunerok” said in an interview this week that the partner is “a multi billion dollar company, international”, that “they have offices everywhere” and are in “the top tier of a 100bill a year market”.
Stan Faas, a core team member at Verge Currency, outlined the situation in a blog post. He says that at the beginning of March Verge were “approached by our new partners with the prospects of them adopting us to their business”. The partner is described as owning “one of the largest payment processors on the internet with several hundreds of businesses routing their payment traffic through them”.
As to the controversial crowdfunding campaign launched by Verge to realise the partnership, Faas says the funds were needed to cover the costs of marketing and integrating Verge into the partner’s payment processors as well as the development of a hardware wallet.
This new information has reignited speculation as to the partner’s identity. At the moment there are two front-runners. First up, Adyen.
Adyen is a Netherlands-based payment processing company which hit the news in January when it was chosen by eBay as its primary partner for processing payments. As pointed out on Reddit, though Adyen is not a household name, the companies it works with certainly are.
The other big option appears to be MindGeek, a Luxembourg-registered company specialising in internet pornography. Though MindGeek itself may not be well known, many of its brands are famous… though most households would be too shy to name them outloud.
Of course, not everyone is convinced that the partnership will turn out to be so impressive. There remains the possibility that the purpose of the hype is simply to increase the price of XVG.
For the partnership to materalize, the Verge project had to raise a cool 75,000,000 XVG to cover the following:
- Cost of integrating into the partner’s extensive network of payment gateway and websites
- A massive marketing campaign to span the entire globe
- International press releases and news coverage
- Ledger Nano S and Trezor hardware integration
- And so much more
The beauty of the Verge project is the overwhelming support by its community members. This amount was raised in a short time period of 5 days and the Verge Team was very grateful of the efforts by loyal Verge community members .
What remains now is the announcement of the partnership as to which organization will be sealing the deal with the Verge Project.
We’ll know in hours.. The announcement of the partnership is expected at 10am EST. We will be announcing it here, so be sure to Subscribe to our blog for updates.
Where is XVG Headed? Rocketing to the moon or will this be a dud? Share this post and leave us a comment in the comment section below. We value all our reader’s opinions!