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Top crypto news: will introduce users to decentralized

Top crypto news: Bit, a cryptocurrency platform, is attempting to expand 

Its ecosystem by introducing Bitcoin (BTC) holders to the realm of decentralized finance (DeFi) and incorporating new services such as a decentralized exchange (DEX) into its platform.

Corbin Fraser, the head of financial services at, addressed a media outlet at the Korea Blockchain Week (KBW) 2022 that the firm is transitioning from being connected with Bitcoin Cash (BCH) to being a DeFi platform that caters to crypto users across several chains. Fraser went on to say:

“We have a large number of bitcoin users, and many of them want to do more with their cryptocurrency than just hold it. And they are aware that there are prospects in DeFi, but it is a little confusing and frightening.”

As a result, Fraser stated that his team is striving to improve the user experience and create a more "pleasant" crypto wallet. In addition to its DEX, the CEO mentioned intentions to launch a prepaid debit card and run a token sale.

The company intends to reward individuals who top up and use the debit card. Fraser believes that by observing how individuals spend their fiat money, they may develop interesting incentive programs. 

Fraser stated that this may be a method for their company to assist people with their day-to-day challenges. He stated that it will be their way of saying, "Sorry, inflation stinks so much, but here's a taste of crypto."

When asked about the demographics of the community, the executive stated that the bulk of their customers are BTC users seeking for Bitcoin and its wallets. However, with their company's foray into DeFi, they can introduce those who found Bitcoin into different routes like stablecoins, Ethereum (ETH), and other opportunities within the ecosystem.

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