New York – November 30, 2020 – PlasmaPay, a global payment and remittance platform enabling seamless entry into decentralized finance, has announced a strategic partnership with Kava, a decentralized bank for digital assets providing users with stablecoins, loans, and interest-earning opportunities. The partnership will see the full integration of the Kava Protocol into PlasmaPay, allowing PlasmaPay users to purchase KAVA tokens and store them on the PlasmaPay wallet.
Ilia Maksimenka, CEO of PlasmaPay, said, “With Bitcoin currently enjoying a bull run akin to 2017 highs, interest in decentralized finances is as high as it’s ever been – migrating beyond the cryptocurrency enthusiast into the mainstream. At PlasmaPay we are dogmatic in our mission to bring DeFi to the masses. Adding protocols such as Kava to our repertoire is a continuation of our work to provide access to best-in-class assets for our users.”
Initially, this partnership will allow PlasmaPay users to purchase KAVA tokens, including HARD and USDX, at the PlasmaPay checkout. HARD is a governance token that was recently listed on Binance and BitMax for the first time. USDX is a stablecoin popular among users seeking to earn interest on their digital assets. The long-term collaboration will focus on full integration of Kava’s services, including the Kava wallet, into PlasmaPay’s decentralized financial infrastructure. PlasmaPay will also support Kava’s lending and staking protocols on Plasma Finance, allowing integration to the PlasmaPay DeFi Dashboard.
Commenting on the partnership, Brian Kerr, CEO of Kava, said, “I’m excited to bring HARD, USDX and KAVA to the 100,000 users across 165 countries that are currently being served by PlasmaPay’s wallet. The ability to buy crypto directly on the PlasmaPay wallet with a credit card opens up endless opportunities for anyone to easily access digital assets simply by downloading an app and entering their credit card information.”
PlasmaPay’s partnership with Kava Labs comes after a flurry of announcements from the DeFi service provider as it aims to open up access to digital assets for users across the globe.
PlasmaPay is a global digital payment platform enabling seamless entry into decentralized finance. PlasmaPay provides industry leading UX, crypto/fiat wallets and fiat on/off ramp services to more than 100,000 cryptocurrency users from over 160 countries via mobile and desktop apps. Headquartered in Tallinn, Estonia, PlasmaPay uses blockchain technology to allow users to securely store crypto and fiat currency, buy and exchange digital assets, send and receive cross-border payments, and build payment networks with zero transaction fees.
The launch of native token PPAY will be the underlying utility of the upcoming Plasma Finance Dashboard, built to be the operating system for the entire DeFi ecosystem. CEO and Founder Illia Maksimenka, along with a highly talented team of cybersecurity developers, economists, and crypto enthusiasts are deeply committed to their mission of creating an open, intuitive financial platform which will allow the world to unlock the full potential of blockchain technologies.
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About Kava Labs
Kava is a cross-chain Decentralized Finance (DeFi) platform offering decentralized leverage and hedging of major digital assets such as BTC, ATOM, and BNB, built by Kava Labs. The first DeFi application built within the Cosmos ecosystem, Kava aims to bridge the crypto economy and traditional collateralization processes through the issuance of USDX, a US dollar-pegged stablecoin loan in proportion to digital assets collateralized. Using a system of smart contracts, Kava enables users open access to loans and algorithmically managed stablecoins backed by crypto assets— empowering digital asset owners with user-friendly DeFi services, making them more accessible than ever before.
The first DeFi platform to receive formal backing from Binance Launchpad, Kava successfully completed its Initial Exchange Offering with a US$3 million token sale on October 24, 2019, adding Binance as its exclusive listings partner. The Kava partnership network also includes world-renowned blockchain industry veterans, Ripple, Arrington XRP Capital, and Tendermint, as well as leading staking-as-a-service providers, StakeWith.Us and Dokia Capital.
Visit Kava Website: www.Kava.io
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