Germany’s Paycer to Integrate DeFi and Crypto with Conventional Banking Services December 4, 2021 December 4, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 4, 2021 by Kelly Cromley

Germany’s Paycer to Integrate DeFi and Crypto with Conventional Banking Services

Paycer, a financial services startup located in Hamburg that specialises in cryptocurrencies and Decentralized Finance (DeFi), is presently creating a bridge protocol that would aggregate DeFi and cross-chain crypto services and integrate them with regular banking services. The protocol, which is expected to be live in early 2022, will include a suite of unique financial products aimed at assisting retail customers in reaping the benefits of the DeFi market.

“Using DeFi may be somewhat challenging, even for people in the information technology field. Our objective is to provide retail customers who have not yet invested in bitcoin with significant DeFi returns” Nils Gregersen, Paycer’s chief technology officer, explains. “We’re also looking for investors who are already invested in cryptocurrency but haven’t yet hopped on the DeFi bandwagon.”

The protocol and platform will support a complete variety of financial services, including cryptocurrency wallets, bank accounts, loans, liquidity pools, and, most significantly, faster access to the lucrative DeFi market. One of the platform’s most alluring aspects is its promise of offering very high interest rates. This will come as a comfort to many retail investors in today’s low-interest financial market, as they will be able to utilise the Paycer protocol to tap into DeFi and create sustainable passive income.

“Many individuals today are watching their money progressively dwindle away due to the lack of interest. Indeed, they lose between 2% and 5% of their wealth each year to inflation” Gregersen elaborates. “By comparison, decentralised finance provides good interest rate possibilities with the extra benefit of not being reliant on banks.”

Due to the known volatility of cryptocurrencies, some investors may be hesitant to enter the DeFi sector, which is still a relatively new phenomena. However, the Paycer Platform will assist consumers in mitigating risk by evaluating the feasibility of new DeFi solutions before to investing in them. Additionally, it will do many checks in advance, automatically diverting users’ funds away from investments thought to be too dangerous.

Paycer will also provide a utility token (PCR) as part of the DeFi protocol’s launch, which will produce actual value for platform users and grant token holders voting rights. Pre-sales of 4% of these tokens are now available (at a discount), and a later public sale of 5% will be held.

Users may receive staking incentives by staking PCR tokens on the Paycer DeFi network. Additionally, Paycer will reinvest a portion of its revenues in token buybacks, assuring consistent demand – and stable pricing – for its main cryptocurrency.

“Paycer believes in a controlled implementation and collaborated with a professional blockchain legal firm to create the PCR utility token in compliance with existing German financial legislation. Additionally, the token was submitted for assessment to the German Federal Financial Supervisory Authority (BaFin) “, according to Gregersen.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.