EU-licensed crypto payment service provider LetKnow Pay has announced plans to relaunch the Bulgarian Blockchain Association.
This initiative comes against the backdrop of a growing trend of skepticism surrounding cryptocurrency and blockchain, and the relaunch aims to support the development of the blockchain industry in Bulgaria and facilitate dialogue between key market players, government agencies and economic institutions.
Regarding these new developments, LetKnow Pay officials said the company’s goal is to restore trust in blockchain technology and legitimate cryptocurrency platforms within the private and public sectors. They acknowledged that recent global events have negatively impacted the blockchain industry’s reputation, but emphasized the company’s confidence in blockchain’s transformative potential and reliability.
Initiative to support blockchain adoption in Bulgaria
LetKnow Pay leverages its experience serving a global client base including Forex brokers, gaming platforms, online merchants, and hospitality services to drive this initiative. The company’s payment gateway supports Alternative Payment Methods (APM), facilitating transactions between Crypto to Fiat, Crypto to Crypto, and USDT API methods.
LetKnow Pay officials said that the goal of relaunching the Bulgarian Blockchain Association was to unify the efforts of different stakeholders to advance blockchain practices, ensuring their transparent and secure application. They stressed that the association would contribute to economic growth and innovation while positioning Bulgaria more prominently in the global technology landscape.
The association will focus on educating the public and institutions about blockchain technology, differentiating it from the volatility often associated with cryptocurrencies. It will collaborate with government entities and stakeholders, including the Bulgarian National Bank, the National Revenue Agency and the Ministry of Finance, to develop a regulatory framework that supports innovation while ensuring consumer protection and financial stability. In essence, the initiative aims to restore consumer trust through better governance, regulation and access to information.
About LetKnow Pay
LetKnow Pay is an EU-licensed crypto payment service provider that offers a range of services including cryptocurrency deposits, withdrawals, transfers, and exchanges. The company enables businesses to integrate cryptocurrency transactions into their operations, ensuring convenience and security.
