This article was originally published at: https://blockeditorial.com/defexa-bridging-gap-tradfi-defi/

Defexa, a prominent player in the fiat and crypto ecosystem, has recently announced a significant revamp of its B2C unit. The company aims to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi) by transforming its crypto wallet into a comprehensive memecoin bank.

What is Defexa?

Defexa’s primary offering is a B2B fiat and crypto payment platform. This platform enables merchants to accept, exchange, manage, and transfer money using various payment systems and cryptocurrencies. The platform’s features include card processing, payment links, recurring payments, omnichannel payouts, and local payment methods.

Defexa prides itself on its global accessibility, fast transactions, low fees, enhanced security, and increased customer privacy. It caters to a diverse range of businesses, including e-sports, e-commerce, tourism, dating, and freelance.

The B2C unit comprises a mobile crypto wallet and a decentralized exchange, currently supporting several tokens on Arbitrum in beta.

Key Features and Future Plans

The mobile crypto wallet app is non-custodial, allowing users to buy, store, send, swap, and sell hundreds of popular assets on major blockchains. The team has recently listed over 50 memecoins and plans to make all fungible and non-fungible tokens on all EVM and the most popular non-EVM networks available.

Defexa prioritizes the safety and privacy of customers’ funds. The company’s in-house security department guarantees this, with the most critical parts of the wallet developed with the help of Decurity, a full-stack web3 security services company. The gateway and DEX have been audited by Hexens, a cybersecurity provider focusing on blockchain. Additionally, Defexa’s apps participate in Hexens’ bug bounty program and are audited by various researchers round the clock.

Defexa is a Canada-registered company with a Money Services Business (MSB) license. To expand globally, the team has acquired a UK company, authorized as an Electronic Money Institution (EMI), some licensed EU companies, and several companies in Hong Kong. Latin America is covered by a Brazilian company, licensed as a Payment Institution (PI), and a local legal entity in Mexico.

The UK EMI company, a principal member of Mastercard, is also in the process of obtaining SWIFT membership. These features will enable Defexa to offer a full spectrum of banking services, including IBAN accounts, debit, and credit cards. The company plans to issue the first batch of cards with memecoin designs in Q4 2024.

Defexa also plans to launch its own loyalty token to engage, incentivize, and gamify the customer journey. The team plans to establish a point system that will reward users for activities within the app.

Defexa is also focusing on decentralized messengers and social networks. The company plans to utilize the Extensible Message Transport Protocol (XMTP) in the upcoming release, making secure chats and channels accessible right in the wallet and bringing alerts and shilling closer to memecoins.

Defexa aims to create a super-app that combines the best solutions from TradFi, DeFi, and SocialFi to provide a seamless memecoin experience worldwide. The team is currently working on a new website to provide more details. Meanwhile, you can download the app for Android or iOS and stay updated with Defexa’s announcements on social media.

This article was originally published at: https://blockeditorial.com/defexa-bridging-gap-tradfi-defi/

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Welcome to Block Editorial, your source for objective and insightful news on cryptocurrency, NFTs, and blockchain! Our founder, Michael Peres, has a passion for providing accurate and unbiased reporting on the latest developments in the industry.