SpacePay is a London-based financial technology company that provides a payment protocol enabling businesses to accept cryptocurrency payments through their existing Android-based point-of-sale (POS) terminals. The system allows customers to pay using various cryptocurrencies from a wide range of digital wallets, while merchants receive settlement in their local fiat currency, mitigating volatility risk ^{[1] [2]}.

Overview

SpacePay aims to bridge the gap between the traditional retail environment and the cryptocurrency ecosystem by integrating crypto payment capabilities into standard POS infrastructure. The company's solution is designed to be terminal-agnostic for Android POS devices, requiring only a software update or application installation rather than specialized hardware.

This approach seeks to simplify the adoption of crypto payments for businesses, allowing them to tap into the market of cryptocurrency users without significant upfront investment or technical complexity. The platform facilitates instant conversion of cryptocurrency received from the customer into the merchant's preferred local currency, ensuring price stability for the business owner ^[1].

History

SpacePay was founded in October 2021 as a financial technology company based in London. The company has focused on developing its payment protocol to integrate cryptocurrency transactions into existing retail payment systems.

SpacePay Raises $1.1M

In June 2025, SpacePay raised $1.1 million in a new funding round to accelerate its mission of enabling businesses to accept cryptocurrency more easily. The platform allows consumers to pay with digital assets directly from their wallets, while merchants receive payments in their preferred currency—either fiat or crypto—within seconds. ^[4]

The funding will support SpacePay’s expansion efforts and technology development, including further integration with point-of-sale systems and mobile payments. The company aims to reduce friction in crypto transactions and enhance accessibility for mainstream businesses, addressing a longstanding barrier in digital asset adoption. ^[4]

Technology

The core of the SpacePay system is a payment application (APK) designed for compatibility with Android POS terminals. This application is installed on the merchant's existing terminal, enabling it to process cryptocurrency transactions alongside traditional card payments. When a customer chooses to pay with cryptocurrency, the SpacePay application facilitates the transaction by interacting with the customer's digital wallet.

A key feature of the technology is the instant conversion of the cryptocurrency payment into the merchant's local fiat currency. This process is designed to protect merchants from the price volatility often associated with cryptocurrencies, ensuring they receive the exact value of the transaction in their desired currency at the time of sale ^{[3] [1]}.

SpacePay's protocol is described as decentralized and terminal-agnostic, emphasizing its compatibility across various Android POS devices. The platform supports payments from a wide array of cryptocurrency wallets, with compatibility cited for over 325 different wallets. This broad compatibility aims to provide flexibility for customers, allowing them to use their preferred existing wallet without needing to download a new application or create a new account specifically for SpacePay transactions ^{[1] [2]}.

Tokenomics

SpacePay has a native cryptocurrency token, $SPY. The total supply of the $SPY token is stated to be 34 billion. A portion of this supply, specifically 20%, is allocated for public sale ^[1].

The project conducted a presale for the $SPY token. During the presale phase, the token was offered at a price of $0.003181 per token. The presale structure is tiered, meaning the price per token increases in subsequent stages.

Participants in the presale could purchase $SPY using various cryptocurrencies, including ETH, BNB, MATIC, AVAX, USDT, and USDC, as well as traditional payment methods like bank cards ^[1].

Token Utility

The $SPY token is designed with several utility features within the SpacePay ecosystem:

• Governance: Token holders are granted voting power, allowing them to participate in decisions regarding the platform's development and future direction ^[1].
• Revenue Sharing: A portion of the revenue generated by the SpacePay platform is distributed to $SPY token holders. This mechanism is intended to provide token holders with a benefit tied to the platform's performance ^[1].
• Community Engagement: SpacePay utilizes monthly airdrops and quarterly webinars with the development team to engage and reward active community members and token holders ^[1].
• Early Access: Token holders may receive early access to new features and updates released by SpacePay ^[1].

These utilities are intended to incentivize holding the $SPY token and foster community participation in the project's growth ^[1].