The main challenge for all payment integrations and partnerships Nimiq has pursued, has consistently been the legally compliant conversion from crypto to fiat when merchants prefer settlement in fiat. Over the years, several companies in Europe have offered such services, and Nimiq proactively engaged in discussions and negotiations with most of them. Despite Nimiq’s readiness to commit significant resources, these partners largely focus on high-volume trading clients such as e.g. crypto exchanges, rather than focusing on merchant payments, which naturally limited the alignment of interests in the past.
Nimiq has always prioritized working with those partners most advanced in obtaining the required licenses necessary in order to enable our payment products. Unfortunately, some of these partners were not able to cross the finish line with their ambitious endeavors, which required Nimiq to re-evaluate and restart the search process for new partners multiple times. At present, we are working once again working with new partners who are actively engaged in the practical and technical implementation process of Bluecode into Nimiq Pay.