IOV Labs and Buenbit formed an alliance to offer the Rootstock and RIF solutions ecosystem. Users will now be able to have more access to DeFi in their day to day, an access guaranteed by the “Everyday DeFi” (products and services secured by Bitcoin Network). This was reported to Cointelegraph en Español through a statement.
From Buenbit they affirm that: “As a consequence, Buenbit end users get direct access, without leaving their trusted application, to Bitcoin-based payments, savings and lending services, with highly secure and censorship-resistant protocols.”.
The integration appears to be fast and smooth, leveraging the RIF suite of products, Rootstock EVM compatibility, and IOV Labs support. In a sentence, this comprehensive partnership enables both companies to better serve their end users in Latin America.
RIF technology could deepen the use of DeFi finance in everyday life. In practice, “Everyday DeFiwould consist of a set of products aimed at stimulating and guaranteeing payments for small businesses; inflation proof savings; remittances that allow the movement of capital easily, at low cost, and loans that would give access to financing for economic growth. All made with stablecoins and available through interfaces that could be user friendly.
As part of the integration, all the native tokens would already be available on the Buenbit platform: RBTC, the RIF token and RDOC.
IOV Labs President and COO, Daniel Fogg commented: “In times of economic challenges, people in countries like Argentina, Peru and Colombia want to use cryptocurrencies to pay their bills, receive their salaries, make remittances and give/take credit at fair rates in a safe way, and all this using truly stable currencies. . This is the era of Everyday DeFi. We believe that RIF technology running on Rootstock is the best way to build solutions for everyday use cases due to its inherent interoperability, low cost, and security.”.
Further Fogg added: “We are excited to carry out this agreement with Buenbit. Federico Ogue and his team are focused on helping people use cryptocurrencies and decentralized technology in their daily lives. By employing RIF technology at Rootstock, we are expanding the types of products Buenbit can offer and helping them do what they do best: decentralize finance.”.
For his part, Federico Ogue, CEO of Buenbit, stated: “Thanks to the alliance with IOV Labs we will be able to continue on the path of creating increasingly simple and friendly solutions to make it possible for our users to know and incorporate into their lives a better way of managing their finances”.
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