Renegade: Bridging the Gap Between Traditional Finance and Decentralized Finance
Summary:
Renegade, a Web3-enabled financial services platform, is working to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). It offers a user-friendly mobile app and integrates features of both financial worlds such as payment solutions, IBAN accounts, personal finance management, and crypto exchange services. Key industry players, including crypto exchanges and wallet providers, integrate with Renegade to offer user-friendly financial solutions. The platform also plans to develop a Visa debit card and a payment feature, RenegadePay, to facilitate everyday crypto transactions.
The continual evolution of the cryptocurrency sector has led to its closer integration with classical finance, benefiting customers by providing superior services. Classical finance has gained notoriety for its lengthy processes, high cost, and inefficiency. High fees and lengthy transaction times for international transfers are prime examples of these shortcomings. On the flip side, decentralized finance (DeFi) offers an alternative with services like fund transfers, payments, and storage potentially being swifter and cheaper. Still, user-friendly interfaces and simplicity of fintech applications drive most customers towards classical finance services, while the complexity of DeFi apps restricts their widespread acceptance.
Mainstream customers demand intuitive and straightforward applications as a stepping stone to experience decentralized services before becoming assimilated into the world of cryptocurrency. Likewise, DeFi users desire a conduit to employ their crypto funds in their daily activities, free from the constraints of the traditional finance system.
Renegade, a Web3 capable financial services platform, aims to fill this gap. It offers basic classical finance banking experiences side by side with crypto and DeFi services. It incorporates a user-friendly interface available as a mobile application on iOS and Android.
Beyond typical finance operations including payment processing, personal IBAN accounts, and personal finance management, Renegade brings in non-custodial and custodial wallets and a fiat on-ramp through a Visa debit card. It also includes a crypto exchange which fuses both DeFi and classical finance spaces under a single umbrella.
Various key players like crypto exchanges and wallet providers from the cryptocurrency world integrate within the Renegade platform. This serves to streamline cryptocurrency services in a manner more receptive to traditional finance users. The inclusion of more services into the Renegade system will provide various direct in-app conversions and increase liquidity options.
On the fintech front, Renegade is developing RenegadePay and a Visa debit card. Both promise to enable users to utilize their cryptocurrency for daily purchases. With a collaboration with EMI Intergiro, Renegade users also receive a Swedish IBAN number, opening doors to conventional banking services and an enticing spending rewards scheme.
Through Renegade, users gain access to a Visa debit card that operates on crypto payments. Renegade CEO Daniel A. Strele-Ramonis reveals the company's goal to eradicate barriers between fiat currency and cryptocurrency. This provides a platform for everyone to harness the full potential of all financial services available. “As this progression continues, we hope to take a frontrunner position in combining these elements, guaranteeing financial empowerment that is comprehensive, user-friendly, and devoid of any concessions,” he further adds.
Renegade has been chosen as a part of Cointelegraph Accelerator for its benefits in media exposure and marketing opportunities. Selection was primarily due to the platform's promise of providing a superior user experience for both traditional and decentralized finance users.
Renegade aims to build integrations with premier payment providers like Apple Pay and Google Pay before the close of the year. With the introduction of the mobile app, TradFi users venturing into DeFi can meet their needs whilst gaining access to cryptocurrency and Web3 services, providing a unifying link between the two financial worlds.
Published At
11/2/2023 10:00:00 AM
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