Simplex merger with Kava brings Fiat straight to Defi – Finance Bitcoin News

As Kava works to make its Multi-Asset-Defin platform more attractive, the inclusion of Simplex’s fiat-to-crypto processing infrastructure will give users a new way to get into the Defi ecosystem with fewer steps and conversions.

New on-ramp to optimize defibrillator accessibility and participation

With decentralized funding (defi) regaining a foothold following the May Total Value Locked (TVL) decline that reflected the wider cryptocurrency sell-off, the race for general accessibility of this emerging space is on.

This has led to a deluge of investor money entering the space to support protocols that feature low transaction costs, scalable infrastructure, and intuitive use. The only area that has remained largely untouched, however, is the actual Fiat gateway to Defi protocols. Investors and traders have to move coins and tokens into the ecosystem, which is an additional step for participants with fiat funds.

Kava, the native Defi platform of the Kava blockchain with over 250,000 users, has overcome this hurdle by integrating Simplex’s fiat-to-crypto payment processing services. The new approach means users with a credit or debit card can enter the Kava ecosystem directly without first moving money through other fiat-to-crypto channels, making it the first Defi platform to make direct purchases of the native tokens supported.

According to Aaron Choi, vice president of global business development at Kava:

Kava Labs strives to reduce friction and continuously improve the experience of our users so that they can buy KAVA safely and easily all over the world. Our partnership with Simplex provides a simple and streamlined way to use credit or debit cards to purchase KAVA and gain access to all of the Kava chain’s assets.

Simplex, which provides a fiat bridge in and out of the crypto universe for some of the world’s largest crypto exchanges, including Binance, believes embedded fiat services will also make the Defi platform more attractive. Ari Last, vice president of business development at Simplex, confirms this view:

We are excited about this new partnership with Kava.io, which offers millions of users worldwide an easy and convenient way to buy KAVA.

This simplex integration meshes the latest developments that Kava has introduced to its customers, namely the Kava Swap platform, which is due to hit the market in August, and helps to expand the reach of the platform.

In addition, further pillars of the ecosystem are to be added. The platform already supports cross-asset capabilities through the use of the Cosmos SDK and helps Kava with two-way market-making in Bitcoin (BTC), Binance Coin (BNB), kava (KAVA) and XRP.

Lending, trading, and income farming are also available in the aforementioned cryptocurrencies and polkadot (DOT), in addition to issuing Kava’s decentralized stablecoin USDX to aid in accompanying lending activities.

Do you find the Defi ecosystem difficult to use? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



source https://bidsfor.me/simplex-merger-with-kava-brings-fiat-straight-to-defi-finance-bitcoin-news/

Comments

Post a Comment

Popular posts from this blog

‘Doctor Bitcoin’ pleads guilty to operating an illegal crypto exchange in the US and faces 5 years in prison – regulation Bitcoin News

A Texas man who calls himself “Doctor Bitcoin” pleaded guilty to having operated an illegal cryptocurrency exchange business converting cash into Bitcoin. He faces five years in federal prison. Crypto Exchange Operator pleads guilty The US Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, pleaded guilty to “illegally engaging in a business converting cash into cryptocurrency.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to running an unlicensed money transfer company. Acting US attorney Prerak Shah in detail: This defendant ignored federal law and allowed scammers to use Bitcoin to operate under the radar of law enforcement. We are determined to rid the Bitcoin market of anyone who knowingly helps criminal actors hide illegal profits in crypto wallets. Hopkins admitted to running a cryptocurrency exchange business and converting US dollars into cryptocurrency, primarily Bitcoin, for a fee. He also admitted...
Read more

Payments Giant NCR brings Bitcoin trading to 650 US banks and their 24 million customers – Finance Bitcoin News

Payment giant NCR and New York Digital Investment Group (NYDIG) are working together to enable 650 U.S. banks to offer Bitcoin trading to their 24 million customers through their mobile applications. 24 million customers from 650 Main Street banks could soon have access to bitcoin trading New York Digital Investment Group (NYDIG) said Wednesday when 650 banks and credit unions in the US will soon be able to offer Bitcoin trading to their customers via their mobile applications. The Bitcoin option is made possible through a collaboration between NYDIG and corporate payments giant NCR. NYDIG is a bitcoin technology and financial services subsidiary of Stone Ridge, a $ 10 billion alternative asset manager. NCR digital banking president Douglas Brown was quoted by Forbes as saying: We strongly believe in the benefits of crypto and its strategic application. And that goes for our banking relationships, as NYDIG proves, and for retailers and restaurants and the like. Founded in 1...
Read more

These are the 5 Most Expensive Crypto Economics Assets Per Unit – Markets and Prices Bitcoin News

Image
As of July 18, Bitcoin is the most valuable cryptocurrency in US dollars per unit, currently trading for $ 31,693. In addition to all the packaged Bitcoins and synthetic Bitcoin connections, the second highest crypto asset per unit is the longing for financing and the manufacturer follows. Removing market cap positions and looking at crypto assets this way gives a user a completely different perspective. A look at the top digital currencies by unit price At the time of writing, there are only two crypto assets worth five digits and only two worth four. A look at the price of each coin per unit shows how many coins are being traded in certain price ranges. The unit price recorded in this report was recorded at 8:55 a.m. EDT on Sunday, July 18, 2021. The data was collected from the crypto market aggregation sites market.bitcoin.com and coingecko.com. The five most expensive crypto assets per unit include Bitcoin, Long Finance, Maker, Ethereum, and Bitcoin Cash. The per-unit pric...
Read more