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Ex-Ripple Executives Plan PingNpay, a Blockchain Micropayment Network

“London-based pingNpay, a new blockchain-based payments platform, has moved out of stealth mode by announcing its plan to launch a global micropayment network at some point in 2022. pingNPay seeks to create a new category of high frequency, low-value payments, like less than $20,  as part of a web 3.0 initiative. pingNPay is expected to start in the UK with a digital currency backed by the pound. pingNPay plans to create stablecoins, backed entirely by fiat, for each country where it will provide services. The company says it will publish proof of reserves to meet any regulatory requirements.”