PlasmaPay Announces Partnership with Ren Protocol

PlasmaPay will work with Ren Protocol to offer many great benefits to our users, including additional liquidity mining options.

PlasmaPay, a global financial services provider, is delighted to announce its partnership with Ren Protocol, who provide access to inter-blockchain liquidity for decentralized applications.

Ren Protocol bridges a range of cryptocurrencies on the Ethereum network. Thanks to this partnership agreement, Ren Protocol’s advanced functionality will be integrated into Plasma.Finance.

This offers our users the enticing prospect of converting Bitcoin (BTC) into renBTC — an ERC20 token pegged to Bitcoin which can then be used to unlock the DeFi sector, even offering liquidity mining on Plasma.Finance. This allows users to enjoy the many benefits of HODLing BTC while staking to earn APY at the same time.

Further, renBTC can be converted back to regular BTC whenever our users tire of receiving interest payments, or whenever they need to free up funds. As part of the agreement PlasmaPay will also offer fiat rails for the Ren Protocol token (REN) bringing its huge selection of fiat on/off ramps into play.

Bitcoin (BTC) on Ethereum (ETH)
Bitcoin Cash (BCH) on Ethereum (ETH)
DigiByte (DGB) on Ethereum (ETH)
Dogecoin (DOGE) on Ethereum (ETH)
Filecoin (FIL) on Ethereum (ETH)
Terra (LUNA) on Ethereum (ETH)
Zcash (ZEC) on Ethereum (ETH)

A spokesperson Michael Burgess, COO for Ren Protocol said:

“We are excited to see this integration go live as it will provide the advantages of DeFi to PlasmaPay’s user base, along with a great user experience. These two elements ultimately lead to broader adoption for the public and both platforms, so we see it as great benefits for all parties involved.”

Ilia Maksimenka, CEO of PlasmaPay said:

“Integrating Ren Protocol into PlasmaPay and Plasma.Finance is brilliant news for us and our community. Now our users will have more means than ever before to reap the rewards of DeFi. We believe that strong incentives are required to bring DeFi to the masses, and with the help of Ren Protocol, that benefit proposition is stronger than ever on Plasma.Finance.”

About PlasmaPay
PlasmaPay is a global digital payment platform enabling seamless entry into decentralized finance. It’s mission is to Democratize the DeFi market by creating an all-in-one solution for both novice and experienced crypto/blockchain users. PlasmaPay provides industry leading UX, crypto/fiat wallets and fiat on/off ramp services to more than 100,000 cryptocurrency users from over 160 countries via mobile and desktop apps.

About Ren
Ren is an open protocol that enables the movement of value between blockchains.

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