OmiseGo (OMG), the Thailand based blockchain-payment platform was added to one of the largest exchanges in the world, Poloniex on September 11, 2017 driving its price up from the $11 range to past $13. But that is not all for the first Ethereum unicorn, which recently crossed a billion dollars in market capitalization. Omise Go also got listed on Binance, one of the biggest Chinese cryptocurrency exchanges, on 12 September.
Omise, the parent company has been around since 2013 providing payment management services for businesses to accept payments through their mobile application. Omise recently acquired Paysbuy, which is one of the three largest payment service providers in Thailand.
Paysbuy is licensed by the Bank of Thailand to operator of e-money business, and accredited with Trustmark (DBD Verified) by the Ministry of Commerce. This existing infrastrastructure is going to be very useful for OmiseGo, which is Omise’s Ethereum based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies. So after they get their service running in Q4, 2017 users could use OmiseGo to pay for goods and services across Thailand whether they are using fiat or crypto currencies.
Jun Hasegawa, Omise’s CEO, recently revealed that Thailand’s Mcdonalds which has over 240 locations across Thailand, will be using OmiseGo’s payment channel and that Omise plans to bring their payment channel to more countries across Asia in the future. OmiseGo’s token are valuable because OMG is a Proof-of-Stake system where users can earn rewards for staking their token to help secure the network. The Proof-of-Stake staking system is scheduled to be launched in 2018. OmiseGo has risen in value extremely well for a new project from its $16 million ICO to over $1 billion in market cap in the span of a month and still has massive potential if it continues to deliver on its promises of a delivering a faster, scalable, and low-cost value exchange settlement platform. As of writing this article, OmiseGo’s price stood at $10.67 with a market cap of $1,048,920,478 .
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