Plasma to Start Cryptocurrency Business in India, Loan Will be Available on Virtual Currencies
PlasmaPay (PPAY) is the biggest decentralized crypto banks servicing over 100,000 users in 160 different countries.
The financial industry is in a process of transition with new emerging solutions such as DeFi. Despite this transition, traditional finance remains strong with plenty of banks and financial institutions wielding major power. Some of that power comes from ordinary people, who until recently had no alternative but to use these services. If you wanted to make a transaction from the US to the UK, you could have done it through a financial institution, or sit on a plane, fly across the Atlantic and give the funds to the recipient yourself. Obviously, using the bank was an easier option.
However, the last 11 years or so has brought significant change. As the cryptocurrency industry emerged, people could easily see the benefits of using it over traditional finance. Blockchain-based payments became cheaper, faster, and even provided pseudonymity, making them more private than legacy banking.
The startup PlasmaPay (PPAY) is recently making headlines for servicing over 100,000 users in 160 different countries. It is one of the biggest decentralized crypto banks which is operating across the world. The company has attracted a considerable number of clients in only two years, by word of mouth and with no marketing of any kind. All their users came due to the quality of their application, and the excellent possibilities that it offers.
It has a very user-friendly app that is free to download for Android, iOS, or you can access it via PC with your browser. All you need to do is get it and create an account, and you will immediately be able to connect your card to it and deposit funds, or just send your cryptocurrencies from exchanges or other wallets. PlasmaPay also offers a seamless, secure, and fast payment gateway for merchants who want to accept cryptocurrencies as well as Indian Rupees or any other fiat currency on their website as payment methods. This payment gateway can be used by any eCommerce, EdTech, product or website to process payments.
We also got a chance to speak with the CEO of PlasmaPay, Mr Ilia Maksimenka where he told us that the application supports Ethereum along with thousands of ERC-20 coins, Bitcoin, and many other cryptocurrencies along with fiats including Indian Rupees. He also said that the application will provide banking facilities to its users including lending, borrowing, staking, yield farming, and much more. He said: “India is one of the largest markets in the world, but like many nations, it is underserved by financial institutions such as banks. We believe PlasmaPay can offer a better and more rewarding way for customers to manage and control their money, and fulfil our promise to bring DeFi to the masses.”
He added, “We highly recommend community members, especially those who are traders or merchants to use it as a wallet, exchange, trading platform, and more. Best of all, you can do it all on the go, since it can rest on your phone at all times, providing you with quick access to your coins whenever you need it. This is how PlasmaPay can help you quickly access DeFi, and through it — all the global decentralized banking services you could ever need.”