1TN is a global IT product encryption processing project developing a unique solution for the cryptocurrency ecosystem. The crypto payment gateway makes it easy for users and merchants to accept crypto payments and has continued to onboard more users in recent months. The 1TN platform allows merchants to accept multi-currency transactions without giving up the usual advantages of traditional payment processors.
These developments caught the attention of many, so we reached out to CEO Denys Ustymenko to discuss his background and the main features of 1TN.
Q: Can we get to know you and your experience in the fintech industry?
A: I am an IT entrepreneur with extensive experience in the fintech and IT industries. I had previously created fintech products, and in 2016, with partners, I created Pokermatch, an online poker room operating in major jurisdictions around the world.
As a CFO and partner, my world involved all parts of the business process, including marketing, business development, account management, partnership development, and performance optimization. I also created financial and legal structures in the company to ensure smooth operation.
Pokermatch achieved impressive growth during this time and was sold in 2021 to Parimatch Holding. After the acquisition, I decided to develop my own IT projects to help businesses grow and build a unique platform for merchants.
Q Why did you decide to get into the crypto industry?
A: I have been on the merchant’s side for 10 years, I clearly know what problems companies face when selling products on the internet. Some of them include payment conversion issues, consumer abandoned carts, transaction limits, and problems with banking payment systems. Additionally, businesses encounter difficult KYC verification issues, which has forced many merchants to adopt a “pay first” strategy before verification, as seen in the gaming industry.
Apart from these, merchants face the integration problem of having to incur high IT costs to properly install payment products on their platform. These are the reasons why I decided to develop a more convenient solution that will alleviate these issues and help businesses accept payments using a fast and reliable system.
Q: What is 1TN?
A: 1TN is an international project for the cryptographic processing of computer products. We are currently developing a unique solution for the cryptocurrency ecosystem. The head office is located in Portugal and we are about to receive a license from the National Bank of Portugal and intend to expand our operations in the Iberian market (Portugal and Spain). Our outlook plans also include the LATAM market.
1TN will become the safest and most trusted cryptocurrency platform through innovative security solutions. We have partnered with leading IT giants such as Fireblocks, Chainanalisys and Finerymarkets to ensure optimal security and custody of user assets.
Q: What is the value proposition of 1TN?
A: 1TN offers services that can be used directly by e-commerce or in white label thanks to the integration options that we provide. Some of our value propositions include
- Low transaction fees
- Quick and easy setup for merchants
- User-friendly dashboard
Support for over 20 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Tether.
Beyond that, we’ve integrated different ways users can send and receive payments via web, email, smartphones, and wallet addresses. This ensures that our goals of increasing financial inclusion for merchants and e-commerce are paramount. As a result, our customers’ payment landscape across the crypto world can be expanded, making cross-border transactions faster, safer and more convenient.
Q: What makes 1TN different from other options available?
A: The traditional payment system is limited for e-commerce platforms and merchants due to high transaction fees and fragmented payment channels. Cryptocurrencies provide an alternative for businesses to get the full value of their services and expand their business beyond their locality. There are no conversion fees and traders can buy and sell digital assets at the best possible rate on exchanges.
They can also get real-time digital/fiat asset price data and sell for free while attracting users willing to spend cryptocurrencies. 1TN offers a solution that provides these features and more. Merchants can accept payments in fiat, and buyers have the ability to choose the appropriate cryptocurrency to make payments. Once the payment is made, 1TN automatically converts it to fiat and the merchant receives the exact amount in their local currency.
Q: What have been your biggest accomplishments so far with 1TN?
A: In turbulent times, I would say launching offices and building a team of specialists with extensive experience in the crypto and fintech industries. We have grown by opening three sites across Europe in Portugal, Latvia and Bulgaria. In addition, we are constantly working on product improvements and the development of innovative platforms. Our primary goal is to help our customers use blockchain technology to enable fast, secure, and low-cost payment processing services, enable third-party processors and timeouts for money transfers, and facilitate payments. cross-border.
This development shows that we are on the right track to ensure the adoption of crypto payment globally.
Q: What are the future developments planned for 1TN?
A: We have a few products that we intend to launch in the coming months. First, we will launch the crypto payment gateway and scale it to help businesses grow. Our team is also ready to support business growth by providing easy ways to store, accept and transfer digital assets. We also aim to expand into new markets including Portugal, Germany, France, Spain, Denmark and Brazil.