Web browser Opera has added support for buying cryptocurrency through its Android wallet by adding a cryptocurrency app for Android. The development could help introduce millions more consumers to cryptocurrencies.
Regulated crypto brokerage firm and partner Safello will provide fiat-to-crypto exchange through the app. This will enable users to buy crypto by credit or debit card. They will also be able to make purchases through a number of other recognised payment providers.
The initial launch covers Sweden, Norway and Denmark. Moreover, there are plans for a wider rollout if the service proves a success.
Safello will verify user IDs, in compliance with BankID in Sweden and NemID in Norway. Furthermore, the whole process for loading funds to a wallet takes just a few minutes.
The partnership will introduce millions of Android users to crypto transactions for the first time. Their device with an Opera app will include a wallet and access to buy and sell cryptocurrency.
Crypto product lead at Opera, Charles Hamel, said that this was consistent with the drive towards usage as the next ‘important phase’ for developing the sector.
“We think that the next important phase for crypto will come from usage and that for it to reach wider adoption, it has to be easy to buy and easy to use.”
For several years, cryptocurrencies like bitcoin have attracted speculative trading. Most notably in 2017 when prices ballooned towards $20,000.
More challenging trading conditions exist in 2018, though. However, the number of merchants and consumers worldwide using cryptocurrency for the first time has continued to swell.
Some analysts believe mass usage of cryptocurrencies is the promised land for the sector. As more real-world applications for cryptocurrency emerge, therefore, they expect cryptocurrency prices to continue to grow.
The news of Opera’s new cryptocurrency app for Android represent a move towards that objective. It could also help drive further interest in cryptocurrencies like bitcoin and ethereum in the months and years ahead.
It comes at a time of increasing development activity around blockchain and cryptocurrency. Mobile payment solutions are viewed as a direct path towards wider adoption.