PlasmaPay Integration To Enable New Payments, Fiat Gateways and DeFi Opportunities For eGold
We’re excited to announce a long term partnership with PlasmaPay, which will make eGold a part of an array of products for payments, fiat gateway & DeFi. PlasmaPay is building a blockchain ecosystem that will enable users to onboard the cryptocurrency space easily and participate in DeFi activities across multiple chains from a single interface.
The short term goal of the collaboration is to make eGold available in their Crypto Checkout product, which allows users in 160+ countries to buy eGold directly with a credit card. In the mid term, eGold will be available in the PlasmaPay wallet as well.
Our long term collaboration will focus on the following objectives:
- Elrond DeFi products available in the Plasma DeFi Dashboard
- Interoperability with the Plasma DLT
- HyperLoop cross-chain bridge integration
- eGold & Elrond assets tradeable via Plasma DEX
“Good user experience will drive DeFi adoption faster than the technical advantages of the underlying blockchain environments. We already see good UX in PlasmaPay’s existing products and concepts, which are a good fit for Elrond blockchain’s unique capabilities and a potential growth accelerator for eGold adoption.” said Beniamin Mincu, Elrond CEO.
PlasmaPay is a DeFi ecosystem that has started with the PlasmaPay wallet and a fiat on/off ramp for the most popular cryptocurrencies. The company has since been working on the Plasma DLT network that has high throughput and 0 fees, as well as a number of DeFi products that will enable cross-chain staking, lending, borrowing & farming, from the same interface.
“We believe this partnership will bear tangible benefits for both Elrond and PlasmaPay users, and bring even greater utility to PlasmaPay. We look forward to working with Elrond on the many areas in which our two companies have found synergies and potential for cooperation. Elrond is not afraid to think big, and it is exactly this kind of partner that PlasmaPay needs if we are to secure our vision of bringing DeFi to the masses.” said Ilia Maksimenka, PlasmaPay CEO.
The long term cooperation between Elrond and PlasmaPay will make eGold more easily available to customers in 160+ countries, as well as provide additional utility for eGold and other Elrond assets via an intuitive DeFi dashboard and rich wallet features.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
PlasmaPay is a global cryptocurrency wallet and digital payments DApp (decentralized application) that provides fiat on/off ramp services via mobile and desktop apps to users from over 165 countries. Individuals and businesses can use the upcoming PlasmaPay dashboard to buy, sell or exchange digital assets and send or receive cross-border payments. Built on their own public blockchain tech called the Plasma DLT (distributed ledger technology), PlasmaPay aims to be the missing link that connects the underbanked and unbanked population with the DeFi ecosystem to provide them financial services without banks.