Baanx Brings ‘Free’ Secured Lending To Tezos

[Tubelight]

Baanx is bringing a new chapter in Decentralized Finance by bringing "free" secured lending to Tezos, and the wider crypto ecosystem, in June 2021.

Expanding The Appeal Of Lending
Baanx, one of the leading B2B2C crypto asset friendly white-label service providers, brings "free" secured lending to Tezos users through the Tezos Crypto Life App. Users can access free secured lending and a free Tezos crypto-friendly debit card (physical and virtual), by staking various amounts of BXX.  BXX is the Baanx token that powers an increasing number of free services in the growing Baanx ecosystem.

Expanding these services to the users and projects on the Tezos blockchain marks an important milestone. As the Tezos ecosystem expands adoption to an increasing number of projects, many can benefit from this, and other Baanx products and services, already integrated with Tezos, for fast and easy deployment. This includes cards, secured lending, acquiring gateways (fiat on/off ramps), and remittance.

Baanx has already sold over 300,000  debit cards globally through its whitelabel and API solutions. Cards are currently available in over 30 EU countries, with further client roll outs in the USA and Asia happening in 2021. This effort is made possible thanks to the Baanx Group Ltd. and its access to EMI licenses in the UK, EU, a Credit Broking License in the UK, through an expanding network of regulated partners.

An Ongoing Story of Growth For Baanx
For Baanx, the expansion to Tezos is only the latest development in a long and successful story. In addition, the team has a partnership with Akoin, Scalable Solutions, and AlphaPoint to make its alternative financial solutions easily ‘pre integrated’ into top exchanges, for faster roll out. Furthermore, they have raised over £12 million from over 2500 investors, ensuring the project remains well-funded and can scale up operations on-demand quickly.

As is courtesy in the cryptocurrency world, every service provider has a native token. Baanx's token is BXX, of which only 250 million remain after burning the remaining 1 billion. The token will make its way to Uniswap soon and provides access to the free debit card, interest-free secured lending, and additional rewards for those who provide lending liquidity.

Closing Thoughts
Expanding the reach of existing DeFi products and services will prove essential in the quest to gain mainstream adoption. The move by Baanx to cater to the Tezos community is an intriguing development in a space that grows more competitive by the day. However, most public blockchains are suitable for decentralized finance, and it remains essential to look beyond Ethereum. Despite the appeal of that blockchain, it too has drawbacks, including high fees, slow transactions, and an overall lack of scalability, at least until the next big network upgrade goes live.

Focusing on a cross-ecosystem solution is what will eventually drive broader DeFi adoption. The user needs to benefit from a seamless experience rather than wondering if a specific project is available on a particular blockchain. Entering the cryptocurrency space is already difficult enough for most. Removing any unnecessary friction from the equation is mandatory before the mainstream will even begin exploring the available optionssource