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The new eFIN ecosystem works under the Swiss-based Dextech AG parent company which creates cryptocurrency trading software for decentralized exchanges, particularly eFIN. The fact that German regulated cryptocurrency bank, Ten31, bought a 13% stake in the company, speaks to the potential of eFIN and their robust backbone.
The eFIN project addresses the challenges that the blockchain industry currently faces and aims to promote the adoption of cryptocurrencies. eFIN is currently tackling challenges such as:
Shifting from one blockchain network to another is a complicated process and cannot be done by beginner or amateur users. This discourages many people from engaging in the crypto community and hinders mass adoption. As a result, people have to invest in different networks separately, which results in Siloed Capital that does not generate sufficient profits.
Fiat Ramp Friction
The third major challenge is the difficulty of use. Even if an investor has made significant profits, they can face difficulties using their gains seamlessly for day-to-day transactions. Similarly, people have a hard time converting their Fiat currencies to crypto due to the lack of sophisticated platforms.
eFIN provides linked platforms for trading, purchasing, and selling crypto, and also offers an efficient solution for all pertaining problems. eFIN uses a robust set of solutions which empower the company to bring the revolutionary change the blockchain industry so desperately needs.
eFIN is a native cryptocurrency built on Bitcore codebase and runs on its own blockchain. It enables secure, private, and fast transactions with low gas fees and, additionally, the currency can be used within the ecosystem using eFINSwap and eFIN Mobile Wallet for transaction fees and discounts.
eFIN DEX is a peer-to-peer, non-custodial, secure, and decentralized exchange that ensures the safety of user’s digital assets by storing them on-chain. The user is the only one who can access their wallet using the private key and maintains complete control over any and all activity.eFIN Dex is currently available for Windows OS and MacOS (Linux will be released at a later stage). eFIN DEX will gain access to Binance Smart Chain in the next update being released in a few weeks. It acts as the foundation of the eFIN ecosystem and enables users to conduct safe, secure, and fast transactions.
eFINSwap is a hybrid DEX cryptocurrency aggregator with a user-friendly UI and smart algorithms to find the best price across several leading exchanges, making the swapping and trading process simpler for those new users to the cryptocurrency space. eFINSwap is connected to eFIN DEX as well as the new eFIN Mobile Wallet. eFINSwap also provides the unique aggregator payment method to purchase cryptocurrencies from a variety of providers across the globe using a number of payment options such as credit card, debit card, direct transfer, Apple Pay and Google Pay.
eFIN Bridge is a two-clock solution that will enable users to transfer their capital from a native chain such as eFIN or Bitcoin, to a smart contract such as BSC and Ethereum. It will create a bridge between two blockchains and subsequently facilitate the to-and-fro transfer of digital assets unlocking billions of dollars worth of trading capital and liquidity.
eFIN Mobile Wallet
eFIN Mobile Wallet is a new addition to the eFIN ecosystem and will be launched soon on iOS and Android devices. This wallet will simplify the transfer process of digital assets by enabling the use of a mobile device to do so. It will be connected to eFINSwap and eFIN DEX using a QR code to make crypto trading more convenient.
eFIN Ecosystem Revamped
It is clear that over the past 9 months DexTech AG has put substantial effort and thought into rebuilding and creating these impressive sets of tools. The new eFIN Mobile Wallet will be a promising addition to the ecosystem as it will conjoin multiple different solutions on a single platform. Traders across the world, whether advanced or new, will all benefit from the complete ecosystem of the new eFIN providing security, efficiency and reductions of fees on both trading and fiat onramp purchases.