Buenos Aires, November 22nd, 2022 — IOV Labs and Buenbit have partnered to bring the Rootstock and RIF ecosystem to mainstream users. Buenbit users will gain access to Everyday DeFi products and services secured by the Bitcoin network.
Both companies view this as a significant step forward in many ways. Buenbit integrates the Rootstock Blockchain and the RIF Product Suite into its core offerings. As a result, Buenbit’s end-users gain direct access – without leaving their trusted Buenbit app – to highly secure censorship resistant Bitcoin based payments, savings, and borrowing services. A fast and smooth integration is guaranteed by leveraging the RIF Product Suite, Rootstock’s EVM compatibility and IOV Labs’ white glove support. As a result, this comprehensive partnership will allow both companies to better serve their end users in Latin America.
RIF technology makes Everyday DeFi a reality. In practice, Everyday DeFi is the action of seamless payments for small businesses; inflation-proof savings; remittances that allow capital movement easily and at low cost, and loans that give access to finance for fundamental economic growth. All denominated in stablecoins and available through user-friendly interfaces.
As part of the integration, all Rootstock native tokens will be made available through the Buenbit platform, including RBTC, RIF token, and RDOC.
IOV Labs President and COO Daniel Fogg adds:
“In these challenging economic times, people in countries like Argentina, Peru, and Colombia want to use crypto to pay their bills, receive their salary, send money overseas, and lend/borrow at fair rates in a safe, secure way, all using real stablecoins. This is the era of Everyday DeFi. We believe RIF Technology running on Rootstock is the best way to build for Everyday use cases due its interoperability, low cost, and inherent security. We are expanding the types of products Buenbit can offer and helping Buenbit do what they do best – Everyday DeFi. We are thrilled to enter this strategic partnership with Buenbit.”
Federico Ogue, CEO of Benbit, commented “Thanks to the integration with IOV Labs, we will be able to keep working on creating simpler and friendlier solutions so that our users will incorporate more effective ways of handling their finances.”
About IOV Labs
IOV Labs develops the blockchain technologies necessary to create a new global financial ecosystem. This ecosystem, in turn, fosters opportunities, transparency and trust. The company currently develops Rootstock Smart Contract Network, RIF Technology and is one of the safest smart contracts platforms in the world, and it was designed to take advantage of the unprecedented hash rate of Bitcoin while enhancing its capacities at the same time. RIF Technology is a set of open infrastructure and decentralized protocols which allow for a faster, easier and more highly scalable development of distributed apps in a unified environment. Taringa! is the biggest Spanish-speaking social network in Latin America, with 30 million users and 1000 communities of active lines.
Buenbit is a financial platform that facilitates access to digital dollars, cryptocurrency, and commodities since 2018 and that is currently building a comprehensive ecosystem to make the benefits of stablecoins and the DeFi accessible to Latin Americans in their daily finances. Buenbit is an accessible app for anybody who knows how to use home banking which allows users to buy, sell and invest in crypto assets. Besides, it includes a service of collateralized line of credits which is unique in Latin America, and a Mastercard which can be used internationally. Buenbit develops products to facilitate the use of crypto in people’s daily lives, which is why it also focuses on the importance of educational and informative quality content. It currently operates in Argentina, Mexico, and Peru. More information at www.buenbit.com.
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