EU-licenced crypto payment services provider LetKnow Pay has announced plans to relaunch the Bulgarian Blockchain Association. This initiative comes in the context of a growing scepticism trend surrounding cryptocurrency and blockchain, and the relaunch is intended to support the development of the blockchain industry in Bulgaria and to facilitate dialogue among key market participants, government agencies, and economic institutions.

Regarding these new developments, officials from LetKnow Pay commented that the company’s objective is to rebuild trust in blockchain technology and legitimate cryptocurrency platforms within both the private and public sectors. They acknowledged that recent global events have negatively impacted the reputation of the blockchain industry but emphasised the company’s belief 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, ecommerce merchants, and hospitality services, to drive this initiative.

The company’s payment gateway supports Alternative Payment Methods (APMs), facilitating transactions across Crypto to Fiat, Crypto to Crypto, and USDT API methods. Officials from LetKnow Pay stated that the goal of relaunching the Bulgarian Blockchain Association is to unify the efforts of various stakeholders to advance blockchain practices, ensuring their transparent and secure application. They highlighted that the association will contribute to economic growth and innovation while positioning Bulgaria more prominently in the global technological 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 rebuild consumer confidence through improved governance, regulation, and access to information.

About LetKnow Pay LetKnow Pay is an EU-licensed crypto payment services provider, offering 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. .