Kyber Network is extending its on-chain coin swapping practices to allow businesses to accept payments through any ERC-20 token out there. This is what CEO Loi Luu told Coindesk. Currently there are well over 120 thousand different ERC-20 tokens out there, and any one of them can soon be used for payments.
Kyber Network also is a decentralized exchange (DEX), that allows its users to swap ERC-20 tokens instantly. “With Kyber we aim to connect between ERC-20 tokens and uses cases, so tokens can be seamlessly used for payments, as collateral for lending, investing in funds and so on”, Luu said to Coindesk.
Kyber Network already has secured partnerships with the ethereum collectible game Ehteremon, and wallets like MyEtherWallet and Coinbase. These products will integrate Kyber’s technology.
The Kyber technology should allow you to spend your ERC-20 tokens. And it shouldn’t matter whether you’ve bags of Augur (REP), Pundi X (NXPS) or Status (SNT).