Stellar Development Foundation (SDF) is working on an exclusive app for the Stellar ecosystem. The Vega Pay will allow you to convert from local currency to popular cryptocurrencies and even other fiat currencies.
Vega will give you access to fair exchange rates for converting your fiat. Every fiat currency listed on Vega is backed by actual currency deposited in their or partners’ banks.
The best part is that you do not need to have a US bank account or be a US citizen to hold US dollar or any other currencies. All this runs on the Stellar ecosystem.
And since SDF themselves is building this and isn’t relying on another entity for any part of it, we are expecting Vega Pay to be very polished product.
Vega Pay app is still in development and hopefully, there will be beta version soon for users to test it out. CEO of Stellar Development Foundation, Denelle Dixon said in recent podcast that Vega will be out in couple of months, so look out for official release in second quarter of 2020.
You can sign up on their website, vegapay.com to get onto their waitlist.
