- Simplex and Kava join hands to bring instant Fiat-to-DeFi gateway for cross-chain assets.
- Kava Swap platform is almost ready for release.
- Both partners are excited to see the inevitable explosive growth on the Kava ecosystem.
Simplex, the fiat/crypto pioneer, is partnering with Kava, the DeFi lending platform. The two will work to bring to life an instant Fiat-to-DeFi gateway for cross-chain assets. Specifically, the Fiat-to-DeFi ramp will cater to Kava and other DeFi lending platforms on Kava’s blockchain.
In detail, Simplex, being the largest fiat infrastructure for digital currencies, will bring a great opportunity for the project. For instance, it provides secure fiat-to-crypto infrastructure, this will allow users to transfer funds from debit/credit cards to crypto in a flash.
Moreover, Simplex is currently the provider of many fiat onramps for popular exchanges including Binance, BitPay, and Huobi. On the other hand, Kava has proven to be one of the fastest-growing DeFi platforms. So far, it has over 250,000 users.
In particular, the Kava blockchain, based on the Cosmos Software Development Kit (SDK), specializes in offering a curated Decentralized finance experience. More so, it leverages cross-chain capabilities of the Cosmos tech stack to offer more digital assets. Some of which include Bitcoin, BNB, DOT, and XRP. Users can use them for yield farming, lending, and trades.
VP Business Development at Simplex, Ari Last says,
We’re delighted about this new partnership with Kava.io which will give millions of users worldwide a simple and convenient way to purchase KAVA.
In addition, the Kava Swap platform is set to complete its combined offering to cover all major DeFi primitives. This product will play the role of a lending platform for the issuance of USDX — Kava’s decentralized stablecoin. Also, the Hard Protocol will enable two-sided money markets for assets such as BNB, BTC, KAVA, and XRP.
All in all, the integration with Simplex, along with the soon to be ready Kava Swap, will guarantee an explosive growth on the Kava ecosystem. Vice President of Global Business Development at Kava, Aaron Choi, expresses Kava Labs’ dedication to its vision. He says it strives to reduce friction and improve user experience to drive easy and safe global KAVA purchases. Above all, he says the partnership will provide a “simple and streamlined” way to use credit/debit cards to buy KAVA and access other assets on the Kava chain.