SpacePay’s test network demonstrates that cryptocurrency has the potential to achieve widespread adoption

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SpacePay’s test network demonstrates that cryptocurrency has the potential to achieve widespread adoption

Bitget-RWA2025/11/12 06:20

By:Bitget-RWA

- SpacePay ($SPY) raised $1.4M in presale, launching a testnet on Base/Ethereum Sepolia to validate its crypto-merchant payment protocol. - The platform enables Android POS crypto integration with 325+ wallet support, fixed 0.5% fees, and fiat settlement to mitigate volatility risks. - $SPY token offers governance rights, revenue-sharing from 0.5% fees, and community rewards like airdrops to incentivize participation. - With 34B token supply and 20% public allocation, the project combines functional infras

By November 2025, SpacePay ($SPY) had secured $1.4 million, while also unveiling a testnet to showcase its decentralized payment protocol’s readiness for mainstream use, as reported by a

99bitcoins report

. The platform’s mission is to connect crypto payments with conventional retail systems, enabling merchants to accept digital currencies on their existing Android POS devices without needing new equipment. Supporting more than 325 crypto wallets and offering fiat settlements, SpacePay helps merchants manage price fluctuations and charges a consistent 0.5% transaction fee, according to the 99bitcoins report.

SpacePay’s test network demonstrates that cryptocurrency has the potential to achieve widespread adoption image 0

The testnet, which is now operational on Base Sepolia and

Ethereum

Sepolia networks, gives both developers and merchants a controlled space to experiment with payment solutions ahead of the mainnet launch. This achievement highlights the team’s focus on delivering practical infrastructure, setting it apart from crypto projects that emphasize hype over substance, the 99bitcoins report continues. The testnet features a functional payment widget that works across multiple chains and establishes the foundation for fiat settlement tools essential for merchant uptake, according to the 99bitcoins report.

SpacePay’s $SPY token is designed for more than just trading: holders receive governance privileges and a share of platform revenue. Token owners can participate in monthly votes on proposals, shaping decisions about new features, partnerships, and token policies, as outlined in a

Coinspeaker report

. Furthermore, a share of the platform’s 0.5% transaction fees is distributed to $SPY holders, providing a passive income stream linked to the platform’s performance, the Coinspeaker report explains. The project also incentivizes active users with monthly loyalty airdrops and quarterly webinars led by the team, encouraging community involvement, the Coinspeaker report adds.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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