hold or not - Changex: Bridging Traditional Finance and DeFi with Innovative CeDeFi App

Decentralized finance (DeFi) has revolutionized the financial landscape, offering an array of innovative services challenging traditional finance (TradFi).

However, the main stumbling block to widespread DeFi adoption remains the user experience.

The DeFi sector has long sought an entry point to onboard new users effectively.

A potential solution to this issue lies in the realm of fintech.

By creating a financial technology app that caters to both TradFi and DeFi users, it becomes possible to showcase the advantages of self-custody—where users safeguard their digital assets without relying on intermediaries like banks.

While the self-custody movement gained momentum, the Web3 space introduced hybrid services that merge elements of centralized and decentralized finance.

Changex, an all-in-one mobile wallet, embraces this approach through its CeDeFi model, providing users from traditional services a familiar environment.

Changex’s app facilitates non-custodial crypto trading, empowering users to retain control of their crypto assets.

It supports buying, selling, and transferring crypto, even enabling debit card and bank transfer purchases.

Multiple blockchains, including Ethereum, Polygon, and Binance Smart Chain, are seamlessly integrated into the exchange.

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For DeFi enthusiasts, Changex offers a range of alternative financial practices such as staking, with plans to introduce lending and stablecoin interest features.

The platform’s native token, CHANGE, provides additional APR on staking rewards.

The app is also making strides in bridging the gap between traditional finance and the crypto world.

It plans to issue European Union-regulated IBANs for fiat asset management, facilitating cross-border transactions within the EU.

Moreover, the upcoming Changex Visa Debit Card promises cashback benefits and the ability to spend staked assets without affecting APR.

Changex’s selection by Cointelegraph Accelerator underscores its expertise, boasting a team of over 20 members, a Bulgaria office, and a track record of delivering robust financial solutions.

With an average of 25,000 monthly active users and nearly $3 million in staked assets, the platform has gained strong traction.

The roadmap ahead includes the integration of the Avalanche blockchain, accompanied by Avalanche-based staking pools.

Additionally, Changex plans to introduce a unique leveraged staking feature.

The forthcoming Changex Visa Debit Card and IBAN, scheduled for Q4 2023, represents a major update.

This release aims to provide users complete control over their finances, solidifying Changex as a comprehensive one-stop solution for both crypto and fiat needs.