.In a strategic move to address the complexities of converting cryptocurrencies into fiat currency, Fiat24 — a Swiss financial institution — has joined forces with SafePal, a crypto wallet provider, to launch a crypto Visa debit card with an in-app banking service.sector still presents a considerable challenge for users who want to convert their cryptocurrencies into fiat.
Featuring a protocol-to-protocol integration, the banking module operates independently from the wallet. This independence ensures that the banking service can be utilized in combination with any DeFi protocols. Additionally, the fiat gateway is open for not only centralized exchanges but also for DEXs like Uniswap, broadening the utility and access for users across the DeFi ecosystem.
Fiat24 functions as a modular banking protocol, capable of independent operation or seamless integration with a variety of DeFi protocols, including DEXs, lending platforms and staking services. This flexibility is achieved through the Lego principle, allowing for versatile combinations with other DeFi elements.
Through their collaboration with Circle and the focus on USDC, Fiat24 and SafePal strive to establish a new standard for ease and effectiveness in the conversion of digital currencies to fiat. This approach broadens access and simplifies the introduction to digital finance for users globally, ensuring a smoother transition into the crypto ecosystem.
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