September 27, 2022 integrates DeFi into the Bitcoin ecosystem


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Pinterest CEO Corbin Frazier told Cointelegraph reporters that his firm is looking to integrate decentralized finance (DeFi) into the Bitcoin ecosystem. It also became known: the organization plans to issue a debit card, which involves rewarding users with cryptocurrency.

According to the head of the company, the platform seeks to expand its own ecosystem by introducing bitcoin (BTC) holders to the world of DeFi and introducing decentralized exchange (DEX) services to its platform and much more. Fraser told Andrew Fenton about this during the Korea Blockchain Week (KBW) 2022 Asian conference. He explained that many BTC users want to do more with their cryptocurrency than just store it in wallets. Users are aware of the variety of opportunities in the DeFi sector, but people find it intimidating and too complicated.

The team will try to simplify the work of users and provide them with a convenient and multifunctional crypto wallet. The service will allow you to conduct a decentralized exchange of digital coins, manage a debit payment card, participate in token crowdsales, and more. Fraser noted the importance of merging the Bitcoin blockchain with other cryptocurrency networks (such as Ethereum) and popular stablecoins.

The company planned to reward customers with digital coins for using a debit card. Various incentive programs are currently being developed. According to Fraser, such a cashback approach will encourage users to pay for goods and services with digital assets more often, which should contribute to the mass adoption of cryptocurrencies.

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