PlasmaPay, a global payment platform enabling seamless entry into decentralized finance (DeFi), has announced the addition of XEM, NEM’s native currency to its DeFi dashboard, Plasma.Finance. This partnership will provide a seamless cryptocurrency on/off ramp for XEM, as well as lending and borrowing options via PlasmaPay’s innovative digital payment platform.
Plasma.Finance has integrated XEM into its extensive fiat on/off ramp system and checkout functionality. Users can now easily purchase and spend XEM. The long-term collaboration between PlasmaPay and NEM will see the integration of XEM liquidity mining pools, including wXEM/USDT and wXEM/ETH to PlasmaPay’s token swapping service, PlasmaSwap — enabling decentralized trading, lending and borrowing services.
Iain Wilson, CFO for NEM Group, commented “We are proud to partner with PlasmaPay as this will hugely benefit our community members, both in terms of easy access, via fiat on/off ramps, but also the longer-term for those who want to participate in the DeFi market. PlasmaPay is an intuitive platform that makes it effortless for users to participate in cryptocurrency. The partnership further strengthens the NEM ecosystem and network going forward. We look forward to working with PlasmaPay closely over the coming months.”
XEM is the native currency of the NEM NIS1 public blockchain, used to pay for transactions in order to incentivize the network of public nodes that process and record transactions. The NEM ecosystem is launching Symbol, a trusted and secure enterprise blockchain, in Q1 2021, which will continue to run alongside the NEM NIS1 blockchain.
Ilia Maksimenka, CEO of PlasmaPay, concluded, “NEM has been a mainstay in the industry, with a concrete technology stack, a myriad of proof of concepts and partnerships with governments and repayable institutions. The XEM token is a vital asset to the ever-growing PlasmaPay and Plasma.Finance ecosystems.
Bringing XEM into our ecosystem will add further top-level functionality for PlasmaPay and Plasma.Finance. We’re delighted to be working with NEM, one of the most impressive projects in the cryptosphere. We are certain that our community will benefit greatly from this partnership in the future.”
PlasmaPay is a global, digital payment platform enabling seamless entry into decentralized finance. Through the creation of an all-in-one solution for novice and experienced blockchain users alike, PlasmaPay’s mission is to democratize the DeFi market. PlasmaPay provides fiat on/off ramp services, with high-quality UX, to more than 100,000 cryptocurrency users from over 160 countries via mobile and desktop apps.
PlasmaPay uses blockchain technology to allow users to securely store crypto and fiat currency, buy and exchange digital assets, send and receive cross-border payments, and build payment networks with zero transaction fees. Using its native token, PPAY, users can benefit from the Plasma.Finance dashboard, a single interface where users can manage their DeFi portfolio with ease. CEO and Co-Founder Illia Maksimenka, along with the distributed team of cybersecurity developers, economists, and crypto enthusiasts are dogmatic in their mission to create an open, intuitive financial platform allowing the world to unlock the full potential of blockchain technologies. Headquartered and licensed in Tallinn Estonia, PlasmaPay is fully compliant with AML5, the 5th Anti‑Money Laundering Directive.
Official website: https://plasmapay.com/
About NEM Group
NEM Group supports the development of Symbol from NEM, a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets. NEM Group comprises three separate entities: NEM Software, NEM Trading, and NEM Ventures. NEM Group shapes the future of blockchain by nurturing a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come.
For more information on NEM go to https://Nem.io
Ilia Maksimenka is CEO and Founder of PlasmaPay, a global, digital payment platform enabling seamless entry into decentralized finance. Prior to creating the Plasma Alliance Group in 2017, Ilia founded Edster, one of Russia’s earliest e-learning platforms and online portal for over 10,000 universities and schools, and later went on to become Head of International Business Development at open online education platform, Coursmos in 2016.
He began his career in FinTech as a Research Analyst at Leader Asset Management, the largest asset management company in Russia & CIS with more than $6 billion USD under management. In 2010, Ilia founded PFL Advisors, an investment management firm focusing on private equity where he was a Managing Partner before assisting in the launch of Round Bank, Russia’s first digital bank.
With expertise in IT, Blockchain, Business Development, Product Development, Growth Hacking, Cryptocurrency, and Portfolio Management, Ilia is dedicated to democratizing the DeFi market by creating an all-in-one solution for both retail and institutional investors. Ilia was awarded a Master in Economics from the prestigious Plekhanov Russian University of Economics as well as a certification in Business Management from McGill University.
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