Reef integrates with Binance to enable FIAT gateway and increased liquidity.
Reef Finance has recently announced its intention to integrate the Binance Access for enabling cryptocurrency purchases with FIAT and trading via Reef Finance in a non-custodial manner. The Reef platform will also offer Binance Smart Chain support in the near future.
Binance is consistently ranked as one of biggest cryptocurrency exchanges by volume today. Earlier this year, Binance launched the Binance Smart Chain (BSC), an Ethereum Virtual machine-compatible blockchain that enables the creation of smart contracts for tokens on the Binance blockchain. BSC seeks to create an ecosystem where validators, token holders, developers, and users benefit from a blockchain platform that offers high performance and opportunities for further innovations.
This partnership will bring a host of innovations to Reef users. For Reef users who want to execute trades, the Binance Brokerage integration will be called. The Access gateway will also allow users to buy cryptocurrencies with a simple use of a credit card. Binance Access allows for a wide variety of fiat currency options, allowing Reef’s options to span across users in different geographies.
Reef has chosen to work with Binance Access and Smart Chain for many distinct advantages, including the ease of use for fiat access, encompassing seamless user experience and low transaction fees, and access to liquidity that Binance offers.
“We share the vision of Binance in ushering in mainstream adoption by making the fiat to crypto onboarding experience seamless,” said Denko Mancheski CEO of Reef Finance.
Through the collaboration between Reef and Binance collaboration, users will be able to onboard onto crypto finance platforms in a faster and cheaper manner.
Reef is the first cross-chain DeFi operating system built on Polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.
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