What was Bitcoin’s original value proposition? Was it to be bought and HODLed in a Ledger wallet for 20 years? The answer is to be used to buy milk, iPhones, and cars.
While bitcoin can be used to buy these things from many retailers, most would agree that its modern use case lies more in being a store of value—digital gold of sorts. Its network isn’t really built for scalable payments. Luckily, DeFi as an industry has taken on the challenge of producing cryptocurrencies that can be used for scalable payments beyond their own ecosystems.
EQIFi, a leading regulated global DeFi services platform backed by EQIBank, is one of them. Just this month, the platform announced it would integrate its $EQX token with crypto-to-retail bridge Shopping.io, which lets token holders use $EQX to buy goods at some of the world’s top e-commerce platforms, including Amazon, eBay, Walmart, and Home Depot.
“EQX token has been the backbone of our platform, and with this partnership now, it becomes part of something even bigger,” says Brad Yasar, CEO of EQIFi. “We offer our users an opportunity to grow their money through DeFi, and now they can actually spend it at the world’s top retailers, which don’t even officially accept crypto.”
Inflation in the U.S. reached 8.6%, in May 2022—the highest rate since 1982 and according to BBC News, one of the highest rates in the world today. This in turn has forced central banks to hike interest rates, leaving financier’s scratching their heads in their attempt to predict the length of the current recession.
Consumers have felt the brunt of this recession with many now searching for new, innovative ways to make use of their assets to optimize their financial standing and purchasing power.
EQIFi’s partnership with Shopping.io affords users the opportunity to spend their $EQX staking rewards seamlessly while enjoying 7 days of free international shipping and a 2% discount on all orders for 30 days starting August 15. Both ERC-20 and BEP-20 versions of $EQX can be used as forms of payment through Shopping.io’s payment processor, ShoppingPay.
Shopping.io currently fulfills orders from Amazon, eBay, Walmart, and Home Depot, though this merchant list stands to grow with the launch of Shopping.io’s Web Extension. The Web Extension will allow Shopping.io to collaborate with a plethora of new merchants, aiding the expansion of $EQX’s purchasing capabilities to the farthest reaches of the web.
EQIFi makes DeFi as accessible as regular online banking, offering users a convenient platform incorporating the largest array of financial services in the DeFi space. Backed by a licensed bank, the platform grants its clients the certainty and security that comes with the highest level of regulatory compliance. EQIFi’s relationship with EQIBank also cements it as one of the most efficient gateways between DeFi and traditional finance, providing its users with a streamlined crypto/fiat On/Off ramp for greater control over their finances.
“This collaboration with EQIFi brings us closer to our vision of a future where people have the flexibility to buy anything with everything,” says Arbel Arif, Founder and CEO of Shopping.io. “The time has come for the liberation from traditional forms of payment! Consumers deserve the freedom to spend their money however they see fit. Shopping.io is committed to helping them do that
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This post was originally published here.