KAVA partners with Simplex! KAVA is a DeFi protocol and builds on Cosmos. It is one of the fastest-growing DeFi protocols with over 250 000 users. Because it uses the Cosmos SDK, it stands for high interoperability and cross-chain compatibility. On Kava, users can create the stablecoin USDX by depositing funds on the platform. So, it works pretty similar to Maker on Ethereum.
Now KAVA partners with Simplex to provide an instant Fiat-to-DeFi gateway for cross-chain assets.
But what does that mean precisely?
Simplex is the largest provider of secure fiat-to-crypto infrastructure. Users can transfer funds from debit and credit cards into the crypto industry nearly instantly.
So, with this collaboration, it will be more convenient for users to deposit assets on KAVA.
In other words: DeFi is becoming more user-friendly!