2 Million Stores Across 70 Nations Accept Vechain (VET) as Means of Payment

$100M Sponsorship Deal Inked Between VeChain and UFC
  • VeChain has been down 2.60% in the last 24 hours.
  • VeChain also said that it had joined the Blockchain Infrastructure Alliance.

Vendors in more than two million locations in more than 70 countries will be able to pay using the VeChain VET token, which the supply chain blockchain project announced its new collaboration with Alchemy Pay to facilitate. The news arrived in addition to its inclusion on the newly built Binance Bridge 2.0. Using distributed governance and Internet of Things (IoT) technology, VeChain intends to develop an ecosystem that addresses key data challenges for various worldwide sectors.

Multiple Recent Developments

This week, Binance announced the addition of VeChain as one of the first tokens to be enabled on the new Binance Bridge 2.0, a new method for Ethereum-based tokens to be utilized on the Binance Smart Chain. After all that, VeChain also said Thursday that it had joined the Blockchain Infrastructure Alliance, a group that promotes blockchain technology. Blockchain-related research initiatives benefit from the expertise of this organization’s network of industry specialists and financial support.

Since it was first introduced in 2015, VeChain has been a supply chain monitoring system that uses physical tracking and blockchain record keeping. Currently, VeChain provides logistics and supply chain tracking solutions to various enterprises.

There are 101 master nodes in the VeChain consensus mechanism, which verifies identities and reputations rather than relying on proof-of-stake or proof-of-work. Despite the latest news, VET’s price remained stagnant, rising by 4% briefly before reverting to pre-announcement levels and trading in a red at the time of writing. According to CMC, the VeChain price today is $0.047161 USD with a 24-hour trading volume of $213,183,921 USD. VeChain has been down 2.60% in the last 24 hours.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.