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LucidPay To Launch Tezos-Based Stablecoin For The Hospitality Industry

LucidPay, a leading payment provider for the hospitality industry, plans to launch a stablecoin for frictionless, global payments.

LucidPay is currently being used in top hotels located in the UAE and KSA such as Atlantis, Sofitel on the Palm, Turtle Bay Hotel and Caesar’s Palace.

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LucidPay To Launch Tezos-Based Stablecoin

Today, LucidPay announced plans to launch a stablecoin for the hospitality industry, built on the Tezos blockchain network.

LucidPay is a global leader in the hospitality industry, enabling innovative payment processing and blockchain solutions that enhance the guest experience across hospitality offerings.

Tezos is one of the original Proof of Stake blockchain networks with a proven track record of speed, security, and reliability for globally accessible products and applications.

LucidPay’s blockchain-based, smart settlement system can be fully integrated with a hotel’s existing payment and point-of-sales systems and participating venues outside the hotel.

LucidPay’s blockchain solution is currently being used by hotels located in UAE and KSA such as Atlantis, Sofitel on the Palm, Turtle Bay Hotel, Caesar’s Palace.

“One of the main challenges of blockchain technology is performance. We have full confidence in the new enterprise grade high performance blockchain built by Tezos sidechain team which is crucial to our growth,” said Jawad Riachi, founder of LucidPay. 

The Tezos-based stablecoin solution will further enhance the benefits of integrating LucidPay’s solution by enabling secure, fast, and private transactions.

The implementation of Tezos on the LucidPay platform will reduce transaction times to sub 2 seconds and creates an extraordinary opportunity for scalability as a technology enabler.

The LucidPay platform allows hotel guests to pay for services, activities, and amenities at a hotel using a wristband or digital wallet.

The system leverages blockchain networks to securely record information, reducing the risk of fraud and the time it takes to resolve disputed payments.

“This announcement marks a transformational moment for LucidPay and the hospitality industry. By building on Tezos, LucidPay will have the opportunity to deliver on scalability and speed of transaction which is absolutely crucial in the payment sector,” added Waleed Rasoulli, Head of Tezos Gulf.

While the original applications will be within the traditional hotel sector, Tezos will give LucidPay the ability to broadly expand its applications to support more vertical sectors including tourist attractions, food and beverage service outlets, retail, and much more.

Learn more about LucidPay at lucidpay.io.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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