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EQIFI Launches Suite of Decentralized Financial Products Powered by a Global, Licensed Bank

News Feed - 2021-08-06 10:08:18

EQIFI Launches Suite of Decentralized Financial Products Powered by a Global, Licensed Bank press release


PRESS RELEASE. British Virgin Islands —6th August, 2021— EQIFI, a decentralized protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins, and select fiat currencies, has today launched its DeFi platform, including newly introduced fixed- and variable-rate ledning products, as well as the advanced yield aggregator and interest rate swaps.


Brad Yasar, CEO of EQIFI, said: “We are incredibly excited to bring our new range of DeFi products to our community and clients. By harnessing the power of DeFi technology, EQIFI is positioned to become an industry world leader. Through blockchain technology, EQIFI democratizes financial products previously only available to a select few, and we are confident that EQIFI is best positioned to bring these products to clients who want to embrace the evolution of digital banking, in an accessible and regulated manner.”


Outlined in full below, EQIFI’s new products simplify DeFi by consolidating a range of sophisticated services on a single user-friendly platform. The products are designed to address the shortcomings of the traditional banking sector, such as high fees, outdated technology, obsolete pricing models, and expensive cash handling. EQIFI Fixed-Rate Productsare pooled loans at a fixed interest rate that settle on a specified future date. The user provides collateral in the form of ETH, wBTC, Stablecoins, or select fiat currencies (converted into stablecoins) in pools, with fixed rates attached. EQIFI Variable-Rate Productsfeature algorithmic borrow rates, making the marketplace automatically responsive to changes across the network based on user activity and demand, increasing levels of borrowing from the token pool. EQIFI Interest Rate Swapsare a DeFi forward contract in which one stream of future interest payments is exchanged for another based on a specified principal amount. Interest rate swaps usually involve the exchange of a fixed interest rate for a variable rate, or vice versa. The EQIFI Yield Aggregatoris an automated aggregator of all leading external yield farming products, making yield farming simple and automatic. The platform automatically assigns capital between different liquidity pools, seeking the optimum profit and margin.


Governed by holders of the platform’s native EQX token, EQIFI operates under a community-focused, decentralized ethos, allowing community members to make important decisions about the future of the project, such as l isting and delisting assets and tokens, adjusting interest rates according to the market, modifying collateral limits, and pausing any loans or deposits for a certain time.


EQIFI is powered by EQIBank. Launched in 2015, EQIBank is one of the world’s leading digital banks and offers tax-neutral personal and corporate banking services in multiple currencies to clients in over 180 countries. EQIBank offers competitive rates, 24/7 service, trusted security, and an innovative, simple online global banking experience across all devices. EQIBank provides bank accounts, loans, custody, debit and credit cards, OTC, and wealth management to EQIFI and all its qualified clients.


Jason Blick, CEO of EQIBank and Chairman of EQIFI, said: “EQIFI’s new range of products are an essential milestone on the road to decentralised finance adoption. This is a product range like no other, and EQIBank is proud of its role as the regulated bank powering EQIFI. We support and trust both EQIFI and this new range of products to bring DeFi enabled products and solutions to mainstream audiences in an accessible way.”


For more information, visit www.eqifi.com.


 


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About EQIFI


EQIFI, the first DeFi project powered by a licensed and regulated digital bank, is setting new standards, establishing trustless transactions, and driving real-world adoption.


EQIFI’s infrastructure is optimized for real-time digital interactions. We are at the forefront of embracing today’s ever-demanding culture that wishes to embrace the evolution of digital technologies.


 


For Media Enquiries


David Cullinan


Chief Marketing officer


EQIFI


david@eqifi.com


 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Binance US CEO Steps Down as the Crypto Exchange Faces Rising Regulatory Scrutiny EXCHANGES | 31 mins ago Binance Restricts Crypto Derivatives Products in Hong Kong, Existing Positions Have 90 Days to Close EXCHANGES | 2 hours ago Tags in this story EQIFI


Image Credits: Shutterstock, Pixabay, Wiki Commons

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