Crypto platform Bitcoin.com is looking to expand its ecosystem by introducing Bitcoin (BTC) holders to the world of decentralized finance (DeFi) and implementing new services such as Decentralized Exchange (DEX) in its platform.
Speaking with Cointelegraph’s Andrew Fenton at Korea Blockchain Week (KBW) 2022, Corbin Fraser, Head of Financial Services at Bitcoin.com, said the company is moving from being tied only to Bitcoin Cash (BCH) to a DeFi platform that caters to crypto users. across multiple chains. Fraser explained that:
“We have a lot of BTC users and a lot of these people who want to do more with their crypto than just hold it. They know there are opportunities in DeFi, but it’s a little complicated, a little scary.”
Because of this, Fraser added that their team is focused on working to make the user experience easier and provide a more “friendly” crypto wallet. In addition to his DEX, the executive also highlighted their plans to issue a prepaid debit card and run a token sale.
With a debit card, the company plans to reward users who recharge and use the balance. By seeing what people spend their mandatory money on, Fraser believes they have the opportunity to create interesting bounty campaigns. He explained that:
“Let’s say the gas goes through the roof, we’d probably catch up and say, OK, any time you fill up your tank with some gasoline, we can add an extra 2% commission in our verse code.”
Fraser said this could be a way for their company to help users through their daily challenges. He said it would be their way of saying, “Sorry, inflation is so bad, but there is a bit of a taste for crypto.”
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When asked about the demographics of Bitcoin.com community members, the CEO mentioned that the majority of users are BTC users looking for Bitcoin and its wallets. But with their company entering DeFi, the company can offer those who have found Bitcoin in various ways such as stablecoins, Ether (ETH) and other opportunities within the ecosystem.
At the same event, Metaverse Everyrealm CEO Janine Yorio told the KBW audience that while Ready Player One showcases the Metaverse in virtual reality, most developments in the virtual world right now are being built for the desktop.