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The White Company Surpasses 100 Million USD in Cryptocurrency Transactions

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The White Company Surpasses 100 Million USD in Cryptocurrency Transactions

PR Newswire

NEW YORK, July 23, 2018 /PRNewswire/ -- The White Company, a cryptocurrency concierge and luxury marketplace, has surpassed $100 million in cryptocurrency converted into real world items. Since launching in 2017, over 25,000 transactions have taken place for goods including Lamborghinis, pieces of rare art, global excursions and conversions to fiat.

The White Company launched the $USD-backed White Standard stablecoin (WSD) and White Wallet platform last month to continue providing utility for crypto holders. Equipped with unlimited liquidity for users, WSD is built on the Stellar blockchain, allowing for larger and faster transactions with cheaper costs than other protocols, making it an appealing option for retailers. The White Company is currently onboarding merchants and plans to launch a commercial processing solution by the end of Q3 2018 as a complement to its luxury marketplace and asset management platform.

"Usability of crypto is paramount for its mainstream adoption," said Elizabeth White, CEO of The White Company. "A new asset class has been created through this digital currency boom, but holders have been largely unable to spend their new wealth. We've made it our mission to help   consumers use crypto to purchase goods, experiences or simply cash out into fiat, and our recent stablecoin and wallet platform furthers that goal. This milestone is a testament to the demand for widespread usability, and we're excited to continue serving the market and working with merchants in the near future."

The White Company has facilitated sales of a variety of products, ranging from an iPhone 7 to a $4 million Ferrari, as well as the first piece of art to be purchased with bitcoin – Mark Flood's "Select a Victim" painting which sold for 12.3 BTC in late 2017. White Company Luxury operates under The White Company umbrella and serves as both a marketplace and concierge service – if a desired item isn't available in the online inventory, it can be located and purchased through White and her team's deep experience and relationships in the luxury, auto, and art industries.

About The White Company
Founded in 2017, The White Company offers a stable, transparent, and secure ecosystem for cryptocurrency asset management and payments,. Rooted in its $USD-backed, monthly audited White Standard stablecoin and multifunction White Wallet, The White Company enables consumers and companies, alike, to harness the many benefits of digital currency without any of the risk, expense or market volatility. For more, visit www.TheWhiteCompanyUS.com.

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SOURCE The White Company

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