DeFi wallet introduced by Bitpanda during surge in financial revenues
In a significant move, digital asset platform Bitpanda has unveiled its new offering - the Bitpanda DeFi Wallet. The wallet, designed to simplify and enhance the user experience in decentralized finance (DeFi), has seen a surge in popularity, with operating revenue for the month reaching an impressive $426 million, marking a 162% increase from the previous year.
The Bitpanda DeFi Wallet is a multi-chain, self-custodial cryptocurrency wallet that supports over 5,000 tokens across various major blockchains, including Ethereum, Solana, Polygon, BNB Chain, Avalanche, Optimism, Base, Arbitrum, and more. With plans for further expansion, the wallet aims to provide a comprehensive DeFi experience to its users.
Key features of the Bitpanda DeFi Wallet include one-click token swaps with smart routing technology for optimal on-chain liquidity, sponsored gas fees on select Layer 2 networks, a self-custodial wallet model with an optional Bitpanda Backup system, curated DeFi yield pools, seamless integration with Bitpanda accounts, and a user-friendly, Web2-like interface.
Bitpanda also announced plans to roll out a Web3-native loyalty program powered by their Vision (VSN) token. This program aims to reward users for engaging with the wallet through on-chain actions such as trading, staking, or completing missions, with staked VSN tokens multiplying rewards like airdrops and exclusive perks. This initiative is designed to increase adoption by aligning incentives with platform activity.
In addition to these developments, Bitpanda has secured a MiCA license from Germany's BaFin, allowing operations across all 27 EU member states. The company has also obtained a broker-dealer license in Dubai, marking its first fully licensed expansion outside Europe. These moves reflect Bitpanda's commitment to expanding its global reach and establishing itself as a trusted player in the digital asset industry.
In summary, the Bitpanda DeFi Wallet offers a robust and user-friendly platform for DeFi participation, with a focus on broad blockchain support, easy-to-use custody and recovery options, optimized trading features, and curated earning opportunities. The introduction of a loyalty program and the company's global expansion plans further underscore Bitpanda's commitment to innovation and growth.
