A provider of decentralized cybersecurity solutions, Rivetz has acquired DISC Holdings to develop a secure blockchain-based mobile payment solution. The DISC payments platform was rolled out under the U.K.’s Financial Conduct Authority (FCA) sandbox initiative for innovative payment technology. Following the acquisition, Rivetz will combine the Trusted Execution Environment (TEE) already integrated into the central processors of millions of mobile devices with blockchain technology to deliver world-class e-commerce security.
"DISC is providing a proven blockchain-based payment solution for the UK, and we're enthusiastic to expand the DISC footprint and feature set by leveraging Rivetz technology. By combining the strengths of Rivetz and DISC, we plan to set a new bar on the consumer mobile payments experience and simplify consumer access to our ecosystem by growing the services of identity, messaging and blockchain," said Steven Sprague, founder and CEO of Rivetz.
The DISC platform offers cost-effective and secure payment solutions based on the blockchain, or distributed ledger technology (DLT). Their app provides consumers with secure payment functionality along with tools for more efficient money management. The DISC platform promotes financial inclusion, providing services for customers both with and without bank accounts. This solution is capable of peer-to-peer transactions and supports other legacy payment models. By implementing Rivetz’s technology into the DISC platform, users will be able to securely manage their cryptocurrency assets and fiat payments, budgets, and digital identity data.
Due to the decentralized nature of blockchain, the solution offers an unprecedented level of transparency for both merchants and customers coupled with personal data protection. The DISC solution is developed in compliance with the EU General Data Protection Regulation (GDPR) for data privacy and security.
"Our smart-money app is giving rise to a new system of secure money exchange for those outside the mainstream banking system. We are now joining forces with Rivetz to usher in a new era for the secure exchange of goods and services," added DISC Holdings director Robert Kay.