Swapin Adds Support For DAI Stablecoin, Expands List Of Cryptocurrencies

As part of the Swapin roadmap for 2022 and 2023, the company has sought to expand the list of digital assets we support for instant conversion into fiat. 

We are proud to announce support for yet another new crypto asset, the DAI stablecoin. 

Here is what you need to know about DAI support in Swapin solutions. 

Swapin Adds Support For DAI Stablecoin To All B2B & B2C Solutions 

Swapin currently supports a growing list of more than ten of the most popular digital assets in the crypto industry today. Beginning immediately, DAI will be added to the list of supported cryptocurrencies. 

When using Swapin B2B and B2C solutions, be sure to view the list of supported crypto assets and select DAI from the list to convert DAI into fiat currencies like EUR and GBP. 

Fiat currencies are then instantly transferred to a connected bank account like all Swapin crypto-to-fiat solutions. 

What Is DAI, And What Are Stablecoins?

DAI is an algorithmic stablecoin on the Ethereum blockchain developed by the Maker Foundation. The DAI stablecoin seeks to maintain a value in parity with the United States dollar by leveraging smart contracts.

DAI joins other top stablecoins like Tether, USD Coin, and Service Coin, in addition to cryptocurrencies like Bitcoin, Ethereum, and more. 

Swapin recently added GBP support on the fiat conversion side of our services. Other important forward-looking milestones from the roadmap include the debut of InstaBuy and a virtual IBAN implementation. We will also add support for additional cryptocurrencies. 

Stay Tuned For What’s Next From Swapin

Stay connected to the Swapin blog for more updates on upcoming Swapin roadmap milestones. You can also follow Swapin on Facebook, Twitter, Telegram, or on LinkedIn.

Swapin is a pioneer in crypto-to-payment solutions, catering to both B2C and B2B segments with a wide range of proprietary products and services. Click here for more information about Swapin or to join the Swapin team! Be sure to also check out the Swapin app and make your first deposit today to access the future of finance. 

New Swapin App Released, Enhanced Convenience For Corporate Clients

When Swapin revealed its updated development roadmap several weeks ago, among the many milestones we have planned in the months ahead, we anticipated releasing an application update before the end of Q2.

We are proud to reveal that the new app update is now live, improving the entire user experience and interface as a whole, with an added focus on enhancing the convenience for corporate and business clients during onboarding.

New App Design Now Live, Redesigned User Interface

The Swapin app has received a visual redesign to better align with the recent rebranding from Piixpay to Swapin and to best reflect our ambitious company roadmap. The user interface and experience have been thoroughly upgraded for increased usability and simplicity. Great care has gone into making the experience smoother for all users.

The Swapin app is the gateway to our lineup of innovative B2B and B2C services, making it a critical focus of our development teams. Further app updates and improvements are planned for the future. 

B2B solutions include the E-Com e-commerce widget and CoinCollector – a tool that allows invoice-based businesses to issue a payment link with payment information pre-filled for ease of use. Connecting to the crypto audience is proven lucrative for luxury brands or companies dealing with high-price assets like real estate, cars, or gold.

B2C solutions include InstaPay and InstaFill, enabling users to make recurring, predefined payments, pay bills, rent, utilities, and more, or send one-off payments to landlords or service providers. Such services can also be used to pay employee salaries or daily corporate expenses.

Improved Business Onboarding Process Benefits Corporate Clients

Prior to the latest app update, opening a business account with Swapin required an active email exchange with an account representative, causing unnecessary delays and back and forth conversations. The new Swapin app now features an easy-to-use online form for opening business accounts, making the onboarding process quick and straightforward. 

At the convenience of the business, users can access an online form and complete the required AML/KYC process and any associated account verification steps. After the account is verified and the onboarding process is completed, business users can instantly take advantage of Swapin B2B and B2C crypto-to-fiat payment tools.

Businesses benefit from avoiding the overhead and risk related to accepting cryptocurrencies. Volatility, compliance, and more are all handled safely by licensed Swapin tools. Any crypto payments made using the B2B solutions offered by Swapin are immediately converted to EUR and transferred to a connected IBAN account.

Current Swapin business partners include real estate company RE/MAX, investment firm Aufort Gold, luxury diamond retailer E-Jewels, and many more. Visit Swapin.com to learn more how Swapin B2B and B2C solutions can benefit your business.

Try The New App And Follow Official Swapin Channels

The new Swapin app is now live on the official website. Both individuals and businesses are invited to check it out. We hope business and corporate clients find the new online form system valuable and convenient.

Stick with the official Swapin blog for more details on exclusive Swapin B2B and B2C solutions, as well as announcements of any new partnerships in the future. You can also follow Swapin on Facebook, Twitter, Instagram, or on LinkedIn.

Be sure also to try Swapin and make your first deposit today and access the future of finance. Swapin is a pioneer in crypto-to-payment solutions, catering to both B2C and B2B segments with a wide range of proprietary products and services. Click here for more information about Swapin or to join the Swapin team!

When DEFI meets FIAT

An outlook on a very potent but challenging synergy.

It started with a simple story.

A Swiss Fintech group integrated AAVE protocol into their system. It looked like just regular news in a bull market. But there’s more to that – a very important trend is shaping.

We are entering the time when institutions are bold enough to play with DEFI. And this is just the beginning.

So Why DEFI and FIAT, what’s the deal anyway?

Many use decentralized finance (DEFI) protocols. Their building blocks are stable coins. In essence, it’s the last bit that crypto needed – as soon as you have stable coins to be traded against volatile assets the loop closes. The best part of it – you don’t need FIAT.  You are part of one whole ecosystem. And the journey continues. You enter with DAI, you get ETH, you collateralize ETH and get a loan in USDC and place it YFI finance to earn more yield.

The money legos game can go on forever.

So why do we need FIAT when you have so many Crypto Dollars anyway working frictionless with other Crypto assets?

Reason 1. 

It’s not going to be like that forever.  

The Crypto Dollar in essence has its own laws that work well. However, stable coins have to find a way to comply with regulations. Even the no-real-dollar-asset-backed coins like DAI cannot avoid that. Ironically, the coins which are backed by USD in bank accounts have a bigger chance to succeed. This is the fact that accountability is much easier. And in the same time if they fail to be transparent they end up in a very difficult situation with authorities i.e. Tether.

Reason 2. 

FIAT is not going away (yet). 

We all like the idea of an economy run on Blockchain but the reality neither Crypto is going way, nor the Dollar. As users and entrepreneurs, we have to find a common ground and unite these economies. It sounds crazy, isn’t it?

Imagine where you can use your assets in Compound as collateral for your mortgage. This concept is hard to process due to the fact of so much bureaucracy and real assets that need to “move” but it has to be a milestone that Blockchain has to solve. (btw…there something cooking in that direction).

And yes, there’s going to be Dollar printing – Biden administration is not afraid of the big inflation ahead. But still, there are many economies that still peg and trust the Dollar. That’s the reality.

This leads to the next point:

How DEFI will meet FIAT and WHY?

Factor 1. 

Banks change due to user pressure (you’re thinking that’s unlikely but if customers move en masse, Banks will follow).

If 30% of customer calls in your banks is about Cryptocurrencies, then you’ll probably need a change.

But, we know – Banks don’t change – right? Thus, the truth is that they will turn into fintech companies, many will fail, others will innovate. Either way, they will be forced to work with Crypto and eventually open the gates to DEFI. This leads us to the next point.

Factor 2. 

DEFI has to embrace some regulatory framework i.e. the Degen’s nightmare. We know it sounds even crazier but a little of bit rules will actually create a much healthier environment. 

A bit of accountability and KYC is actually good for the industry. How many rugpools and hacks we had?

Permissionless and anonymity are good – however we are putting too much risks in the user basket creating a steep adoption curve.

Give the power to users and full responsibility? That’s good, but we as developers/entrepreneurs are obliged to create standards of safety. And this is very important for DEFI to prosper.

If those two factors are in place we can talk about a real merging between FIAT and DEFI. 

Leap in the future. 

No doubt, DEFI can take and disrupt the old legacy systems. Can we live without banks? Probably. 

Do we need Fintech companies? Yes. 

In an ideal world, the end-user is not going to feel either he/she uses decentralized or centralized solutions. 

The question is – can we bring good practices in DEFI like governance, voting power and apply it to the real economy? Legislators have to understand that. Customers too. After all, open finance is what we want. To pay bills with Crypto. To load their Sushi swap via an ATM. Incredible? it’s a matter of perspective.

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Meanwhile if interested to try how to pay your bills with Crypto try Piixpay.

We made it easy.  

Piixpay Team