KBW 2022: Bitcoin.com will bring Bitcoin users to decentralised finance

Corbin Fraser, a Bitcoin.com executive, stated that the company intends to develop a prepaid debit card that rewards customers with cryptocurrency.

Bitcoin.com aims to grow its ecosystem by introducing Bitcoin (BTC) holders to the realm of decentralised finance (DeFi) and integrating new services like a decentralised exchange (DEX) into its platform.

The company is transitioning from being exclusively linked with Bitcoin Cash (BCH) to a DeFi platform that serves crypto customers across different chains. This is what Fraser explained:

“We have many BTC users, and many of them want to do more with their crypto than simply retain it. And they are aware that there are prospects in DeFi, but it is a bit difficult and frightening.”

In light of this, Fraser stated that their team is striving to improve the user experience and deliver a “friendlier” cryptocurrency wallet. In addition to the DEX, the executive discussed the company’s ambitions to launch a prepaid debit card and conduct a token sale.

With the debit card, the company intends to compensate consumers for topping up and for usage. By seeing how people spend their fiat currency, Fraser believes they will be able to build engaging incentive campaigns. He emphasised that:

“Let’s assume gas prices are through the ceiling; we could possibly say that once you fill up your gas tank, we’ll add an extra 2 percent kickback to our verse token.”
This, according to Fraser, is a means for their company to assist people with day-to-day obstacles. It will be their way of saying, “Sorry, inflation stinks so much, but here’s a taste of cryptocurrency.”

When asked about the demographics of the Bitcoin.com community, the executive stated that the bulk of their users are BTC users searching for Bitcoin and its wallets. With the company’s move into DeFi, however, the company can introduce Bitcoin users to stablecoins, Ethereum (ETH), and other prospects inside the ecosystem.

Janine Yorio, the CEO of Metaverse company Everyrealm, told the KBW audience at the same event that while the film Ready Player One depicts the Metaverse in virtual reality, the majority of advances in the virtual world are now designed on the desktop.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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