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The dream of OmiseGo (OMG) to be the number one payment gateway has received a major boost after the platform inked a deal with the Thailand government. According to the deal, OMG will develop a payment system, as well as an identification system for the Thai government. This deal puts OmiseGo on the forefront of cryptocurrencies that have a practical use on a large-scale.  The deal will see OMG platform make the lives of the Thai people easier by giving them a more efficient way to pay for services.

As the OmiseGo founder put it on Twitter

“Happy to see more cooperation between Thailand. So we are always happy to cooperate and help change people’s daily lives better with decentralization.”

But the long-term impact of this partnership is even greater. You can expect other South-East Asian nations to adopt OmiseGo (OMG) as they try to move towards policy harmonization for enhanced trade and political integration. That’s especially because, China and the U.S have been making aggressive forays into this region. It’s only through unity that this region stands a chance to increase its bargaining power.

OmiseGo presents the best forum for such unity of purpose. That’s because it makes cross-border trade possible for small businesses without them having to deal with forex charges, which are a challenge when small businesses conduct business through the traditional banking system. In fact, this is the number one challenge to regional integration and growth, in the South East Asia region.

Even better news for OmiseGo (OMG)

OmiseGo also seems poised to reap big from its support of the Ethereum community fund. It’s among the few other platforms dedicated to making the Ethereum ecosystem better, by supporting decentralized projects on the Ethereum platform.

This is positioning OmiseGo as a platform that truly supports decentralization. You can expect this coin to grow as blockchain diehards flock in to invest in the OmiseGo project.  Besides, it has the support of Vitalik Buterin so its profile is quite good in cryptocurrency space.

Technical overview

With all these good news, we are likely to see a significant price surge in OmiseGo. In fact, a technical analysis of this coin reveals shows that it has been making higher lows, which means that the upward momentum is strong. Once investors process the impact of this deal, expect the price of this coin to shoot up. The first target of this coin is $22 where from a technical analysis perspective, it will hit a resistance before rising even higher.  Price excitement is already visible with trading volumes having moved by over 54 million dollars in the last 24 hours.

Verdict

OmiseGo (OMG) has the potential to reach $26-$28 in the near-term. This is the best time to invest if you want to make money with OmiseGo.  It is literally filled with good news and the upward potential is quite high for this coin. Invest now before it takes off, and reduces your potential gains as the price surges!


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