IOV Labs and Buenbit have teamed up to provide its users access to the Rootstock as well as RIF ecosystem. Buenbit users would be able to access the services and goods from Everyday DeFi which are protected by the Bitcoin network.
In many ways, both corporations see the association as a huge advancement. The RIF Product Suite and the Rootstock Blockchain are integrated into Buenbit’s core services. Therefore, Buenbit’s end users have immediate access to secure Bitcoin-based savings, payments, and lending services without leaving their trusted Buenbit app. Utilizing the RIF Product Suite, Rootstock’s EVM-friendly and IOV Labs’ white glove support provide a fast and easy integration. Because of this extensive partnership, both businesses will be able to serve well to their customers in LATAM.
Everyday DeFi is turned into reality via RIF technology. Everyday DeFi is the function of smooth transactions for small enterprises, inflation-proof savings, and remittances that enable easy and inexpensive capital movement, along with borrowed money that provides access to money for basic economic expansion. All of them have user-friendly UI and are available in stablecoins.
All Rootstock tokens, including RBTC, RIF tokens, and RDOC, will become accessible via the Buenbit as part of the integration.
Daniel Fogg, CEO and President of IOV Labs continues:
In current difficult economic times, individuals want to utilize cryptocurrency to pay off expenses, get their salaries, move money abroad, take or give money at reasonable rates safely, all using actual stablecoins. We live in the Everyday DeFi era. Due to its interoperability, affordability, and inherent security, we think RIF Technology that runs on Rootstock is an excellent option to design for Everyday use cases. Adding new product categories enables Buenbit to continue providing its core service, Everyday DeFi. They are ecstatic to begin this strategic alliance with Buenbit.
Benbit’s Chief Executive Officer, Federico Ogue, thanked the collaboration with IOV Labs and said that they would continue to focus on producing easier and friendlier options so that their subscribers will adopt more constructive means of regulating their funds.”
Brief on IOV Labs
IOV Labs creates the blockchain technology required to establish a brand-new international financial ecosystem. This environment promotes possibilities, openness, and trust. The firm is now working on Rootstock Smart Contract Network, RIF Technology, which is among the safest smart contracts platforms. It was created to benefit from Bitcoin’s record-breaking hash rate while increasing its capabilities. RIF Technology is a collection of open protocols and infrastructure that makes it possible to create distributed applications in a unifying setting that are more quickly, easily, and scalable. The largest Spanish-speaking social network in Latin America is Taringa!, which has 30 million users and 1,000 active communities.
Buenbit is a finance-related system that has made it easier for people to use digital currencies, cryptocurrencies, and products since 2018. It is now developing an extensive ecosystem to help Latin Americans use stablecoins and the DeFi in routine finances. Anyone familiar with home banking can use the Buenbit app to purchase, invest and sell, and in cryptocurrency. An assurance line of credit facility exclusive to Latin America is also included, as is a Mastercard that may be used abroad. Buenbit strongly emphasizes the value of high-quality educational and informational content since it creates products to make it easier for individuals to use cryptocurrency in their daily lives. Currently, it runs in Mexico, Peru, and Argentina. Find out more at www.buenbit.com.