A London-based startup aims to allow consumers to use Bitcoin as a form of payment – even with merchants that haven’t started using the digital currency.
Slated to launch in 2016, Plutus is a Near Field Communication-based digital wallet, driven by a team of traders that can convert a user's Bitcoin into dollars, euros or other currencies.
The app also includes reward points called Plutons, which can accumulate into funds redeemable at NFC-enabled stores.
"The intent of the app is to be practical," said Danial Daychopan, Plutus' CEO and co-founder, in a Dec. 28 press release. "Plutus plugs into existing infrastructure to allow contactless payments, which reward you on the blockchain. It's simply a stepping stone towards adoption and a practical use-case that many have been asking for."
The concept of converting Bitcoin into fiat currency at the point of sale isn't new. Companies like
