Monarch’s Android Wallet Now Supports 1,500+ ERC20 Tokens
Monarch Blockchain Corporation has officially pushed an update to support all ERC-20 tokens on the Android wallet. This means any cryptocurrency that is built on Ethereum’s network can be sent, stored, and received using the iOS, Android, or desktop version of the Monarch Wallet. Users can also store over 1,500 tokens, including custom ERC-20 tokens by entering their unique contract address.
Ethereum has served as a launch-pad for many blockchain startups, allowing them to create their own form of cryptocurrency to launch an ecosystem and raise funds. Tokenization of a business is a new structure that many entrepreneurs have utilized. Ethereum’s use case has been proven over and over again as the decentralized network currently has the second largest market cap by value.
Now that the Monarch Wallet can support any Ethereum-based token on all platforms, it plans to integrate other blockchains and protocols to support additional tokens. On the iOS wallet, users can send, store, and receive Stellar Lumens (XLM), Ripple (XRP) and GoChain (GO), three networks that have projects building on their blockchains.
After integration of additional tokens, Monarch Blockchain Corporation will be launching MonarchPay, a payment solution to allow businesses to accept cryptocurrency as payment. To promote mass adoption amongst retailers, users can pay in cryptocurrency and MonarchPay will instantly convert funds to fiat to pay business owners and mitigate their exposure to market volatility. Monarch has a Patent-Pending protocol to enable recurring payments, so users will be able to pay their rent, mortgage, Netflix, or any other monthly bills using cryptocurrency. Many blockchain experts see this as a mass adoption tool because a currency is worth what others are willing to accept for it, so if businesses accept cryptocurrency as payment, even the biggest skeptics of cryptocurrency will have to acknowledge its credibility and use case for frictionless payments.
Any questions about the Monarch Wallet can be answered on Monarch’s Official Community Channel.