OmiseGo (OMG) is a blockchain-powered open payment platform which facilitates better coordination between financial institutions and payment services. OmiseGo’s objective is to enable simple, easy-access payment solutions that can adapt to a range of different demands and services. The company state that they will provide functionality for company payroll deposits, payments and remittances, loyalty programs, B2B transactions, asset-trading, and other every day business services.
OmiseGo began as a response to the lack of coordination between cryptocurrency services and financial clients in the real-world. OmiseGo is the brainchild of Jun Hasegawa and Donnie Harinsut who founded the Omise company in Bangkok, Thailand, in 2013. The initial coin offering for OmiseGo was launched in 2017, and succeeded in raising over $25 million.
The company plan to implement their Plasma Network, which Omise claim will facilitate more than one million payment transfers per second – a major increase on non-crypto, mainstream services like Visa. OmiseGo is permissionless and fully open to the public, and is not owned by its development company Omise.