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In an effort to simplify the conversion of cryptocurrencies to fiat, Swiss financial institution Fiat24 has teamed up with cryptocurrency wallet provider SafePal to introduce a new banking service integrated with a cryptocurrency Visa debit card. The collaboration will make waves in the decentralized finance (DeFi) sector, which despite advances has struggled to facilitate easy transitions from cryptocurrencies to fiat for users.
Simplifying Crypto-to-Fiat Transition for DeFi Users
The current process of converting cryptocurrency to fiat is time-consuming and complex, often involving multiple steps that come with high fees and the risk of delays. To reduce slippage fees on decentralized exchanges (DEXs), users typically split orders into multiple trades, further complicating the process.
The partnership between Fiat24 and SafePal aims to solve this problem by launching a cryptocurrency Visa debit card along with in-app banking services. This initiative is designed to bridge the gap between digital assets and traditional banking and provide users with a seamless experience for managing their finances in both areas. Operating independently of the wallet, the banking module allows integration with a variety of DeFi protocols and provides a fiat gateway with access to both centralized exchanges and DEXs such as Uniswap.
Simplifying the Transition Process for DeFi Enthusiasts
Fiat24 is a Swiss-licensed financial institution that operates on the Arbitrum blockchain to leverage public blockchain technology to facilitate transactions and enhance transparency and security. The platform offers a unique blend of DeFi and traditional finance (TradFi) services, acting as a dynamic bridge connecting the digital and traditional financial worlds. Users can utilize Swiss IBAN for transactions while connecting to their preferred non-custodial cryptocurrency wallet accessed via Fiat24 non-fungible tokens (NFTs).
The platform’s modular banking protocol allows it to operate independently or integrate seamlessly with a variety of DeFi protocols, including DEXs, lending platforms, and staking services. This flexibility is achieved through the Lego principle and allows for various combinations with other DeFi elements.
Fiat24’s new partner, SafePal, offers a comprehensive suite of cryptocurrency wallet solutions, including hardware wallets, mobile apps, and browser extension wallets. Backed by industry leaders such as Binance Labs and Animoca Brands, SafePal has been serving over 10 million users worldwide since 2018 and supports a variety of blockchains and tokens.
The joint service works with Circle, a global financial technology company, to utilize USD Coin (USDC) as the default deposit currency. This choice aims to alleviate onboarding issues for newcomers to the cryptocurrency space by leveraging one of the most widely used stablecoins. Through their collaboration with Circle and their focus on USDC, Fiat24 and SafePal are setting a new standard for simplicity and efficiency in converting digital currencies to fiat, expanding access for users around the world, simplifying digital finance adoption, and there is.
As this partnership continues to unfold, it opens up new possibilities for financial autonomy and inclusion, heralding a new era in which digital and fiat currency management is not only possible but also effortless.
Starting today, those who participated in the March Referral Program can receive rewards directly from the Fiat24 dApp!
Thank you to everyone who participated and don’t miss your chance to earn money in the future! $ARB #Fiat24 #F24 #compensation #Earn pic.twitter.com/CJHmJEhMHT
— Use Fiat24 cryptocurrency (💙, 💙) (@Fiat24Account) April 5, 2024
Emitting Smog: The Solana Meme Coin Set Will Change the Market
In the ever-evolving world of cryptocurrency, Smog emerges as a unique Solana-based meme coin with an innovative approach to airdrops rather than traditional presales. Unlike typical sweepstakes that reward long-term holders, Smog introduces a gamified system. Participants are encouraged to complete tasks or quests and earn airdrop points in the process. As more points are accumulated, the proportion of the airdrop increases, promising a lucrative early move advantage similar to that seen in major cryptocurrency presales in 2024.
Smog captivates the cryptocurrency community with its dragon-themed aesthetic, adding excitement and fantasy to the Solana blockchain. This marks a resurgence in the appeal of such investments, establishing itself as a fiery contender ready to breathe new life into the meme coin sector. Due to its unique combination of storytelling and design, Smog achieved notable success upon release.
As soon as it hit the market, Smog’s value soared, recording a 1500% increase in just 3 hours on the Jupiter DEX. The momentum didn’t stop there. It achieved an incredible 4500% growth over the next few days, highlighting the cryptocurrency community’s enthusiasm for this new entrant. This increase in value highlights the significant interest in Smog and highlights the potential benefits for investors looking to participate in the innovative airdrop system.
Further enhancing the Smog ecosystem are additional features such as staking along with ETH bridge activation. This development allows Smog to be purchased with Ethereum, expanding its accessibility to potential investors. You can also purchase directly through the Smog website, simplifying the process for new users.
CoinMarketCap’s recent update solidifies Smog’s position in the cryptocurrency world. It outperforms popular meme coins like Pepe and Dogecoin in terms of weekly returns, highlighting the growing interest in Solana-based meme coins among investors. This data not only shows that Smog is rising rapidly in the market, but also suggests the potential to become a top contender among meme coins with high upside potential.
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