PlasmaPay, a global payment and remittance platform for decentralized finance (DeFi), announced on Monday it has formed a partnership with Kava, a decentralized bank for digital assets providing users with stablecoins, loans, and interest-earning opportunities. According to PlasmaPay, the collaboration 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.
“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 further revealed that through the partnership it will also support Kava’s lending and staking protocols on Plasma Finance, allowing integration to the PlasmaPay DeFi Dashboard. While sharing more details about the partnership, Ilia Maksimenka, CEO of PlasmaPay, stated:
“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.”
Brian Kerr, CEO of Kava, added:
“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.”
Founded in 2017, PlasmaPay describes itself as a global payment and remittance platform for people and digital business. It allows users to securely store crypto and fiat currency, buy and exchange popular digital assets, make and receive payments, build their own payment network with zero-fee transactions.
“Our mission is to create an open financial platform for the world to unlock the full potential of new blockchain technolog