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Reef Finance CEO: Reef to Introduce First DeFi Debit Card

Reef Finance CEO Reef to Introduce First DeFi Debit Card
  • Reef Finance will introduce DeFi debit cards, according to CEO Denko Mancheski.
  • Once launched, these will become the first-ever debit cards in the DeFi space.
  • Mancheski also described Reef Finance as the Robinhood of DeFi in the sense that they are simplifying otherwise-complicated processes for the average user.

Reef Finance CEO Denko Mancheski recently announced that they would start rolling out DeFi debit cards. This will make Reef Finance the first protocol in the DeFi space to offer the said service.

“This will be] the first DeFi debit card. So, [with this], people will be able to spend the yields that they earn through all these protocols with ease.”

Mancheski spoke during the Global DeFi Congress, which was hosted by Agora Group in Dubai. He discussed the technology behind Reef Finance, as well as their ongoing developments and future plans.

During his presentation, he also described Reef Finance as the Robinhood of DeFi. In an interview with CoinQuora, Mancheski explained that Robinhood simplified trading for users. Robinhood created a layer on top of existing infrastructure and “made it extremely easy to onboard the average retail user.”

In that same analogy, he said that Reef Finance is working toward making DeFi processes more efficient and simpler. This way, Mancheski believes that average users will be able to access various DeFi services without having to study complex fintech processes.

Reef Finance bills itself as the first cross-chain DeFi operating system that runs on the Polkadot blockchain. It has its own native Reef Token, which has already been listed on top crypto exchanges including, Binance and Huobi Global.

As to the launching of the debit cards, Mancheski did not mention a specific time yet.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.